BY IRMA ISIP [ Malaya.com.ph ] June 22, 2011
A Beijing-based group is looking for site on which to build a $500 million industrial estate that will house Chinese manufacturers, Cristino Panilio, managing head of the Board of Investments, said yesterday.
Panlilio said officials of the China New Rural Construction and Development Council, led by Chen Wai Keung, expressed their interest in putting up an industrial estate during a recent meeting.
He said the meeting was arranged by Patrick Caoile, executive vice president of Vulcan Industrial of the Alfredo Ramos Group.
Panlilio said the group is looking for a 500- to 1,000-hectare site in Central or Northern Luzon which can host light industries such as garments, energy, water, utilities, information technology and other light industries.
He said the group inquired about incentives as well as requirements.
The BOI head said he has offered the Ilocos region, Pangasinan and Zambales as well as Subic and Poro Point to take advantage of the ports in these locations.
The Chinese group’s expression of interest in the Philippines came just weeks after a trade conference for Chinese investors hosted by the Philippine Chamber of Commerce and Industry.
The Manila Guangzhou Trade and Investment Conference and Cantonese Product Promotion in Asean held Monday was attended by a 146-member delegation from Guangzhou, the capital city of China’s Guangdong province.
During the conference, Trade Secretary Gregory Domingo noted how a tiger economy like China continues to help boost the growth of Philippine exports.
While the natural disasters in Japan and sluggish recovery in the United States slowed down exports, Philippine trade with China climbed steadily.
"In 2009, China was the Philippines’ fifth largest trading partner. In the first quarter of this year, China was our country’s third largest trading partner with exports increasing by 58 percent," Domingo said.
The event also launched the Manila-Guangzhou Business Council, which aims to promote trade relations and cooperation between Manila and Guangzhou.
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