More Chinese investors want to invest in RP

More Chinese investors are expressing their interest in meeting in the Philippines as businessmen from Chungqing City, Sichuan Province visited the country last week.

In an interview, Philippine Special Investment envoy to China Francis Chua said he has met with more than 300 visiting Chinese investors who are looking at engaging in mining, automotive and shipbuilding activities.

Chua said among the projects that the delegates are looking at is the setting up of a motorcycle manufacturing facilities in the country as an expansion of their facilities in Chungqing, the biggest manufacturing site of generic motorcycles in China.

The 300-man delegation from Chungqing visited the country to discuss with President Arroyo possible investment opportunities in the country. Chua said Mrs. Arroyo was very receptive and even proposed locating the assembly plant project in Sta. Rosa, Laguna where there is already a steady base of support industries servicing the requirements of the existing automotive manufacturers.

The meeting with the President was followed by discussions with other key local business groups and government officials.

Chua disclosed that the visit has paved the way for the creation of the Philippines-Chungqing Business Council to give potential investors access to information on setting up a business in the country as well as networking with other entrepreneurs and companies for possible joint venture activities.

Aside from automotive, Chua said the Chinese businessmen are also considering delving into mining specifically the exploration of nickel and chromite in Palawan. Chua said the investors are open to a joint venture agreement with the local government for this specific project.

“The expert from China is already here and is coordinating with concerned government agencies like the DENR,” he said.

Investment opportunities in other sectors such as tourism and education are likewise being discussed, Chua said.

He said they want to set up some meetings with universities to work out some possible tie-ups. “They also proposed to build ships in the country because they are good in building luxury vessels,” Chua said.