To ensure the implementation of the iron processing plant project signed during the China visit of President Rodrigo Duterte last April, Department of Trade and Industry (DTI) Secretary Ramon Lopez engaged with Chinese investor group to discuss the details of their expansions as well as the menu of incentives provided by the Philippine government.
In his business meeting with Xiamen C&D Inc. executives led by Vice President Dongxu Chen, C&D Logistics Group Co., Ltd. General Manager Yueha Chen, and MinaVida de Mindanao Corporation (MMC) officers headed by Chairman Alex Fu, Lopez relayed that the commencement of signed projects sends a strong signal in the deepening relationship between the Philippines and China.
“President Rodrigo Duterte and his administration are supportive of investment projects that have high impact in improving the lives of Filipinos, providing jobs and opportunities especially those at the bottom of the pyramid. We are optimistic of our stronger relationship with China following the big ticket projects in infrastructure, manufacturing, and energy,” said the trade chief.
“President Rodrigo Duterte and his administration are supportive of investment projects.”
Xiamen C&D has presence in the country’s renewable energy industry through their local partners Pulangi Hydro Power Corporation (PHPC) and Liangan Power Corporation.
Last April, they signed a $50 million-worth of investment on an iron processing plant in Agusan Del Norte together with Fu Properties Inc and their Filipino partner Adnama Mining Resource Inc.
The investment covers construction, operation, marketing, as well as management of the plant.
Xiamen C&D is a renowned supply chain operator in China and has AAA level credit standing enterprise rating. It also ranked 39th among their country’s Top 500. C&D Logistics Group Co. Ltd, China’s top 100 logistics enterprise, handles the marketing and chartering support for the operations of MMC.
“This is the best time to increase your investments in the Philippines. Apart from the strong macroeconomic fundamentals, we have initiated various policy and economic reforms to attract more investors that will partner with us,” the trade head added.
“We have initiated various policy and economic reforms.”
PHPC is the group that recently started the 250-MW Pulangi hydropower plant in Bukidnon.
MMC is involved in a large-scale nickel project with substantial high-grade mineral reserves and integrated metallurgical operations in Languyan, Tawi-Tawi.
Meanwhile, Chen commended the country’s good business environment and expressed their strong confidence in the country’s economy. He likewise committed to start their project immediately.
Fu also relayed their company’s intention to continue doing business in the country and grow their operations in real estate, mining, as well as hydro power.