MANILA, Philippines - The Board of Investments (BOI) expects $1.3 billion worth of investments from Chinese businessmen this year.
BOI managing head Cristino L. Panlilio said the biggest investment that is set to come within the year is the $500 million from Shandong Sanli Tires. Panlilio said they are offering Subic as a possible site.
Another investment that was signed during Aquino’s visit to China and is expected to come in this year is the $300 million project of Energy World Group Hong Kong.
Likewise, Panlilio said the China Asean Fund will invest $300 million in Clark Development Corp. and another $200 million for a Geothermal Plant in Biliran, Samar Industrial Park.
Panlilio said they expect big projects including the mining project of Jin Chuan Group, China’s biggest mining group, to invest in the Philippines. This firm is partnering with the Zamora family who also has a big investment in the local nickel industry. He said the plan is to build a fero nickel plant which will enable the firm to go into the processing of nickel ore.
Another firm that is almost certain to invest is the Tianin Xinhe Shipbuilding which partnered with Win Ace Holdings.
Also, Hydro China Corp will build wind power inside Clark. Panlilio said this firm would have to compete for Feed in Tariff (FIT) but he said regardless of the FIT they will infuse the $450 million investment here.
Meanwhile, Shandong High Speed Train expressed keen interest in investing P2 billion. “They want to join the PPP (Public Private Partnership). They want to bid for the PPP,” Panlilio said.
Jin Jiang, the biggest hotel chain in China, will partner with Carlos Chan of the Oishi Group to build a boutique hotel in Pasay Road, Makati. Jin Jiang also operates the five biggest tourist agency in China and they committed to bring two million tourists by 2016.
The China Trend Investments will also invest $1 billion in industrial estates in Ilocos Norte.