The Board of Investments (BoI) reported on Wednesday that a group of toy manufacturers in Hong Kong was interested to invest and expand in the Philippines, offering encouragement to state efforts to make the country competitive and promote it as a worthwhile investment destination.

In a statement, the BoI said that during a recent virtual session, the 250-member Toy Manufacturers’ Association of Hong Kong, led by President Samson Ko, said it was seriously considering to relocate to and expand their operations in the country on account of rising production costs.