GUANXI, China and the Philippines have signed new projects to expand economic and trade cooperation, enhance connectivity and match competitive industries.
“The projects signed includes port cooperation, hydropower engineering contracting, Nanning-Manila direct tourist charter flights as well as tourism strategic cooperation,” Peng Qinghua, Secretary of Communist Party of China said during the China-Philippines Business Matching Seminar for Entrepreneurs on Wednesday.
This will lead to expand economic and trade cooperation, enhance connectivity and match competitive industries, deepen exchanges in tourism and personal and cultural exchanges, so that we can achieve new prosperity in cooperation between Guangxi and the Philippines, he added.
One of the projects signed involved the Philippine Kibungan Badeo 500-megawatt Pumped Storage Hydropower Project in Kibungan City, Benguet. The total investment by China Energy Engineering Group Guangxi Hydroelectric Construction Bureau Co. Ltd. is $550 million.
Peng hopes that Guangxi and the Philippines seize the chance and draw on each other’s strengths to achieve mutual benefit and deliver a brighter future for both sides.
The seminar is expected to strengthen mutual understanding and build closer ties between enterprises, while improving levels of cooperation and expanding new fields of cooperation, and usher in a new era of economic and trade cooperation between Guangxi and the Philippines.