China ready to invest in PH infra

8

Nanning, China: China is ready to invest heavily in the Philippines, particularly in infrastructure development, now that President Rodrigo Duterte is showing keen interest in improving the relationship between the two countries, a regional business leader said.

Advertisements

Recalling his visit to Manila three weeks ago, the executive president of the China-Asean Business Council, Xu Ningning, said he observed that quality of infrastructure in the Philippines is still not high enough to attract investments and support a growing economy.

“During my visit to the Philippines I experienced heavy traffic. I thought it was only in Beijing…but it was not just the traffic, it was also the quality of the roads. To me the quality of some of the infrastructure are not high enough,” Xu said.

He was addressing the Philippine delegation during a promotion conference on late Monday, at the 13th China-Asean Expo being held in Nanning, China. He spoke in Mandarin, but it was also translated to English.

The current state of infrastructure in the Philippines, Xu said, presents an opportunity for China and the Philippines to improve the quality of infrastructure of the latter.

Explaining that China-Philippines cooperation “will definitely help the Philippines upgrade its infrastructure,” he stressed that “If you cooperate with America or Japan, you cannot do it.”

China, he pointed out, has cooperated with other Asean countries and their infrastructure has improved. He cited Laos and Cambodia as examples.

“There are so many reasons for us to collaborate with each other,” he added.

In addition, Xu stressed that China pays high attention to the Philippines in all aspects.

“There are a lot of state-owned enterprises, large private enterprises that send us message and e-mail some information about the political environment and also investment opportunities in the Philippines,” he added.

Besides, China, he said, has also recognized the new president’s confidence in building good bilateral trade and economic relations, he added.

“We can see that there is really a good future for us; economic and political. We can all improve together, especially for the political relationships,” he said.

“China’s cooperation is waiting to go in the Philippines. Chinese enterprises are really interested in investment opportunities in the Philippines. We can see the Philippines is really appealing to Chinese companies,” he said.

Xu said the next steps that China and the Philippines need to take is define how they can consolidate and cooperate with each other.

“Firstly, we need to trust each other for cooperation. We need to realize the global economic development is due to China and Asean countries. We should trust our abilities for economic cooperation,” he said.

“I believe China and the Philippines chamber of commerce as a pioneer for the future to establish a brilliant production chain in Philippines. Because if we have a mutual benefit in production chains we can definitely provide economic growth for the Philippines,” he said.

China was ranked as the Philippines’ second major trading partner in 2015. It was the country’s fourth largest export market and one of the top investors, with $294 million worth of investments from 2014 until the first quarter of 2016, according to the Board of Investments.

To recall, China has offered Beijing’s support to the priority projects of the administration in the form of official development assistance for the pipeline projects of the Departments of Public Works and Highways, of Transportation and of Agriculture.

A Chinese company has also expressed its interest to provide funding for the construction of one of the flagship projects of the Duterte administration—the 2,000-kilometer Mindanao Railway System that will connect key cities such as Davao, Zamboanga, Butuan, Surigao, Cagaan de Oro, Iligan, and General Santos.

Share.
loading...
Loading...

Please follow our commenting guidelines.

8 Comments

  1. It will be interesting to see how this relationship develops going forward for the Philippines. We know from experience here in Ukraine, that the bigger brother is not always friendly to the smaller brother.

    Andrew L., Director
    https://UkraineInvestors.com

  2. Anytime you deal with China you will have they will have one hand on your wallet and the
    other hand up your wife’s skirt !
    BEWARE…

  3. Our government should observe caution in dealing with the Chinese in putting up their businesses here in the Philippines. We know pretty well their reputation as businessman, they are not that transparent in their dealings but were instrumental in introducing to our consciousness unpopular business practices that would tantamount to economic sabotage such as hoarding of goods, cartel of goods, putting up dummies to their businesses masking their true identity, smuggling of goods, manpower exploitation, tax evasion, violations of our labor laws and so on. In short, the government should be selective in giving them opportunities to safeguard our own economic interests,

  4. I have little trust with the Chinese foreign policy and investments. There appears to be cases of bribery in any transactions with the Chinese government. Look at all the countries close to China such as Myanmar, Laos, and Cambodia. Are they better off than Philippines? China has poured investments in poor countries especially in African and South America as a strategy for these countries to import Chinese products and become dependent on these products. In return, China takes the minerals of these countries and re-export them as commodities..

  5. PROC needs raw materials like metallic ores and industrial minerals that RP has for example : gold, nickel, silver, copper, platinum, and lead, not to forget gemstones, quarry products as simple as sand and gravel. Any mining company that produces ore for PROC and violates DENR regulations and get closed will be a big headache for the PROC companies . . . . . . Agricultural products too. The PROC mango eaters can make a big stink if their mango and banana supplies from RP dry up. . . . . . . . . . . . . . . . So the RP Wonder Woman and Superman (pivotal and vital ministries against PROC) are DENR Sec Gina Lopez and DepAgri Sec Manuel Pinol. Who woulda thunk . . . . Ah yes . . .Those two Chinese “investors” did not speak for the PROC National Peoples Congress who by the way decides the directions that Li and Xi (Ma lik si) go or take in behalf of the PROC. . . . . . . . . . . . . . . . . . . . . . . . .Canadian Circle for Asian Issues . . . .

  6. If PresRody of RP accepted the PROC offer to develop RP infrastructure projects it would be a WIN-WIN situation for PROC. The PROC sources for semi-precious ores and metals in RP would be secure for years to come and the Chinese would have the freedom to operate and exploit RP as never before, that is if they have not already done it.

    After WWII, older Filipinos told the younger ones that before the war, Japanese “business men” wearing coat and ties, and bottle and rag dealers where in the country prior to the WWII bombing of Manila and Davao. Are there any forward parties of PROC operating now in RP ?

    Canadian Circle for Asian Issues

    • Jean, I have 1 question for you? Where is the Philippines now after all these years kowtowing to the US imperialist? Even when the largest forward US naval and Airforce base are here, we received a pittance compared to Israel, Turkey etc. Are we better than Malaysia or Thailand? These countries where there is no freedom of the press and daily human right violations are far better than us economically, politically and socially. We might as well imitate PM Mahathir on his “Look East Policy”. And by the way, are you Filipinos? because if not, You better not meddle on our internal affairs. If you are canadian, we dont meddle and add fuel to the fire of Quebec Independence drive.

  7. PROC needs raw materials like metallic ores and industrial minerals that RP has for example : gold, nickel, silver, copper, platinum, and lead, not to forget gemstones, quarry products as simple as sand and gravel. Any mining company that produces ore for PROC and violates DENR regulations and get closed will be a big headache for the PROC companies . . . . . . Agricultural products too. The PROC mango eaters can make a big stink if their mango and banana supplies from RP dry up. . . . . . . . . . . . . . . . So the RP Wonder Woman and Superman (pivotal and vital ministries against PROC) are DENR Sec Gina Lopez and DepAgri Sec Manuel Pinol. Who woulda thunk . . . . Ah yes . . .Those two Chinese “investors” did not speak for the PROC National Peoples Congress who by the way decides the directions that Li and Xi (Ma lik si) go or take in behalf of the PROC. . . . . . . . . . . . . . . . . . . . . . . . .Canadian Circle for Asian Issues . . . .