PEZA signs MOU with Chinese business group

To further strengthen regional economic integration between the Philippines and China, Philippine Economic Zone Authority (PEZA) Director General Tereso O. Panga and Aoxing Group Chairman Zhao Wenfa signed a Memorandum of Understanding (MOU) on 03 June 2025 at the PEZA Head Office.

This partnership is a direct outcome of PEZA’s investment mission to China last March, during which the evolving China 1 1 strategy—a diversification trend where companies maintain operations in China while expanding to other Asian markets—was identified as a key opportunity for Southeast Asia. The engagement laid the groundwork for closer collaboration with Chinese enterprises seeking resilient, dual-base production and supply chain models in the region.

As PEZA’s latest Investment Promotion Partner (IPP), Mr. Zhao Wenfa—Chairman of Aoxing Group and President of the International Chamber of Commerce—emphasized the importance of leveraging localized business operations as a foundation for sustainable economic collaboration. He also serves as CEO of Dongguan Aoxing Audio Visual Equipment Co., Ltd., a leading OEM based in Dongguan that manufactures projector equipment, projector screens, and audiovisual products for global brands such as HP, Epson, and Skyworth. With extensive experience and a strong global market presence, Mr. Zhao has led the company in exporting AV equipment to markets across the America, Europe, Asia, and the Middle East.

With his strong economic insight and extensive network across the Chamber of Commerce and Chinese communities in mainland China, Hong Kong, Macao, and beyond, Mr. Zhao is well-positioned to promote both local and foreign direct investments into PEZA ecozones.

DG Panga reaffirmed the importance of this commitment stating, “PEZA counts the Chinese investors (including those from Taiwan and Hong Kong) among our best bets for FDI attraction for this year and for succeeding years to come. With the Philippines as the new “plus one” destination for China-based manufacturers wanting to export to the US and EU, our partners will play a major role in our quest to actively engage Chinese enterprises and to promote the Philippines’ competitive edge as the emerging investment hub in the region.”