A CABINET official and China's envoy to the Philippines are in the initial stage of exploring a development project for the proposed Greater Manila Bay Area.

Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go recently said he welcomes Chinese Ambassador Huang Xilian's proposal to develop a business complex in the Manila Bay, which draws inspiration from China's Greater Bay Area (GBA) economic zone that covers Guangdong, Hong Kong, and Macao.

Huang broached the idea on August 22 at the 12th Manila Forum for China-Philippines Relations.

"I think it's an idea that can be looked on a little deeper," Go told reporters. "There will be another meeting in, I think, two or three months ... to see what steps can be undertaken to develop such a project."

The meetings will involve the head of the Hong Kong Business Group and representatives from the Hong Kong-Macau Business Association, Go said, adding that the proposed concept aligns with the Luzon Economic Corridor and the new rail network that traverses the Manila Bay area.

As to where the funding will come from, Go said it's too early to discuss it. Such a huge project typically starts with a study, followed by a master plan, and then the implementation, he pointed out.

The Federation of Filipino-Chinese Chamber of Commerce and Industry Inc. and Huang agree that the proposed Greater Manila Bay Area can transform into a major economic hub, as seen in similar projects in other cities overseas.

Go said that despite ongoing tensions in the West Philippine Sea, trade relations between China and the Philippines remain strong, noting that Manila is open to investments from legitimate international businesses.

"We welcome investors from anywhere in the world. As long as they're in legitimate businesses, they put in real capital, provide jobs to Filipinos, and help our economy turn and run, we welcome all such investments," Go said.