Can the Philippines' become China's ‘plus one' amid South China Sea tensions?
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The director general of the Philippine Economic Zone Authority (PEZA), Tereso Panga, said in a social media post on Monday that the Philippines was being eyed as the 'next preferred destination in
Asean with the emerging
China plus one, plus one business strategy,' referring to the country as a viable investment alternative amid the 20 per cent
tariffs imposed on Chinese imports by US President
Donald Trump
PEZA is the agency that administers special economic zones in the Philippines and promotes foreign investments.
Panga added that the China plus-one strategy had 'evolved into C plus two', with the Philippines now the preferred 'plus-one' location in Asean for companies relocating from China.
Vietnam had historically been the first choice for China-based companies for expansion due to its proximity, he said, a sentiment that was made clear during PEZA's meetings in various Chinese cities, including Xiamen, Chongqing Shenzhen , and Dongguan , where officials presented investment opportunities in the Philippines.
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