On November 7, 2019, HVAC / R PHILIPPINES, hosted by the Philippines Global-Link Company and strongly supported by the Philippine Building Association, opened in Manila for four days.
Economic growth has been rapid since Duterte became president of the Philippines. And according to the Economic and Commercial Counsellor's Office of the Chinese Embassy in the Philippines, the Philippine Minister of Social and Economic Planning and the Director of the National Economic Development Agency (NEDA) said at the Philippine Economic Journalists Association (EJAP) Forum last week that as public spending doubled, the Philippines' economic growth rate is expected to reach 6.4% in the second half of this year. He revealed that 46 of the 75 infrastructure flagship projects are currently being implemented, costing a total of 2.18 trillion pesos. The Philippines' economic growth slowed to 5.5% in the second quarter, and the average growth rate in the first half of this year was 5.5%. He said that the Philippine economy is expected to resume growth in the medium term, and that the GDP target will accelerate to 6.5% to 7.5% by 2020 and to 7% to 8% by 2021-2022.
China-Philippines relations have continued to improve, mutual political trust has increased, and economic and trade exchanges have become more frequent. China is the Philippines' largest trading partner, largest source of imports, and fourth largest export destination. The bilateral trade volume between the Philippines and China was US $ 23.74 billion, accounting for 15.3% of the total trade volume of the Philippines, an increase of 8.2% year-on-year. With the rapid development of the Philippine construction industry, it will definitely drive the huge market demand for the air-conditioning industry and will also create rare trade opportunities for Chinese refrigeration companies.
More than 150 enterprises participated in this exhibition. Famous enterprises include Daikin, Mitsubishi, Panasonic, Hitachi, Kolin, tosot, Belimo, Bitzer, Gree, Samsung, Honeywell, LG, York and so on. It is the exhibition with the most famous enterprises participating in, in Southeast Asia. It also has the exhibition pavilions organized by Japan and South Korea. The Korean exhibition group includes more than 30 enterprises, which is the largest exhibition group of this year, and 9 Chinese refrigeration enterprises participate in this exhibition.
Korean pavilion
Coowor visiting the exhibitors and buyers
