RSA eyes partnership with China on ind’l parks

The group of businessman Ramon S. Ang is eyeing a team up with China for the establishment of an industrial park in the country for Chinese companies.

International Chamber of Commerce Philippines chairman Francis Chua said Ang, president of diversified conglomerate San Miguel Corp. (SMC), is offering a 2,000-hectare property in Bulacan and another 1,000-hectare site in Mindanao.

“He is saying that they can choose if they want to be in the south or they want to be in the north,” Chua said.

“That’s the information I got from Department of Trade and Industry’s Fe Reyes,” Chua said.

In an interview in Nanning, China in September last year, Reyes, who serves as assistant secretary for investment promotions of the Board of Investments, said the establishment of a China Industrial Zone in the Philippines is important in enticing large Chinese manufacturers as it would make them feel “safe and at home with their investments.”

SMC has submitted to the government an unsolicited proposal for a P699 billion Airport City Complex Development in Bulacan.

At present, the conglomerate also has an existing 2,000-hectare industrial estate in Davao del Sur which houses some of the group’s power assets.

“They( Chinese) are bringing in the money, they are bringing the know- how, they are bringing the technology. We will not shell out anything except land which they will pay for also,” Chua said.

Chinese Ambassador Zhao Jianhua in a business forum last Friday afternoon said China is keen on developing industrial parks in the country, given that it has already set up eight in other parts of the region.

Such investments are in line with the renewed economic ties between the Philippines and China under the current administration.

Zhao said China would seek to balance investments between the two countries as there are currently more investments coming from the Philippines to China.

For its part, the DTI said economic relationship between the Philippines and China continues to improve as reflected by the upbeat sentiment of Chinese businessmen in doing business in the country.

The agency said China is considered as a vital business partner for the Philippines with significant contributions to the country’s economic growth.

In 2015, China placed 14th in the list of top foreign investing countries in the Philippines, pouring in P1.45 billion worth of investments.