HK-Shanghai mission urges creation of MM masterplan
A high-level Hong KongShanghai joint investment mission has urged the creation of a masterplan for Metro Manila to be able to plot out opportunities for infrastructure projects.
Sunwah Group chairman and Hong Kong-Shanghai investment co-mission leader Jonathan KS Choi said the delegation has proposed to help the Philippine government create a masterplan for Metro Manila.
“What we are going to do in the coming 10 years, you should have a masterplan for it. We can help them set it up,” Choi said.
“If we have a masterplan and a timetable, we will know what will happen in the future. We can plan ahead,” Choi said, adding this will help the country identify opportunities potential investors can tap.
“Some companies will be interested in the roads, some companies will be interested in the sewage plants. There’s so many public utilities that we can get involved and the masterplan will know what you want – we can chart big projects,” Choi said.
Meanwhile, Choi said that one of the members of the investment mission has already signed a memorandum of understanding (MOU) for Laguna Bay reclamation project.
Based on earlier news reports, Shanghai GeoHarbour Group is eyeing a $3.46 billion land reclamation and development project in Laguna de Bay.
Choi co-led a Hong KongShanghai investment mission in the Philippines from April 22 to 24, which sought to explore opportunities for investment and cooperation in the Philippines, particularly in infrastructure, driven by the growing intraregional cooperation in Asia under the Belt and Road initiative.
The Belt and Road initiative promotes connectivity and economic cooperation among countries along the Belt and Road routes to further market integration in the region.
The delegation was organized by the Hong Kong Trade Development Council (HKTDC) in association with the Shanghai Federation of Industry and Commerce.
Choi affirmed that the Philippine government invited the delegation to invest capital in a number of infrastructure projects under the Build Build Build campaign.
He, however, said everything is still under consideration as the group would like to cherrypick the best project.
In his speech during a delegation luncheon, Choi said they were impressed by the prospects of upcoming projects in the Philippines.
“Apart from capital needs, we also see high demand for total solutions for infrastructure development,” Choi said.
Choi said some of the members in the delegation are from the services sector, who are ready to contribute to their expertise in various planned projects in the country.
Around 40 Hong Kong and Shanghai business leaders from various industries such as consultancy, architecture, energy, waste and water treatment, engineering and construction, legal and accounting transportation and other sectors, took part in the investment mission.
“Our economic, trade and cultural ties are closer than ever with the growing outreach and exchange, such as our mission,” HKTDC chairman Vincent Lo said.
“Offering a combination of capital, professional expertise and production capability from Hong Kong and Shanghai, we hope to collaborate with partners in the Philippines to turn investment opportunities into bankable ventures,” Lo added.