Bulacan eyes investment from sister province of Hunan
CITY OF MALOLOS, Bulacan — For the purpose of promoting mutual understanding and friendship between the Chinese and Filipino people, the leaders of Bulacan and Hunan province of China signed earlier this week an interim agreement that will pave the way for P50 billion worth of investments and jobs for 100,000 Bulakeños.
The sisterhood agreement and document, titled “Letter of Intent on the Establishment of the Friendship Relationships between Hunan Province, P.R. China and Bulacan Province, Philippines,” was signed Tuesday night by Governors Wilhelmino M. Sy-Alvarado of Bulacan and Xu Dashe of the People’s Government of Hunan at Sofitel Hotel, Pasay City.
Both parties agreed to make concerted effort on the basis of equality and mutual benefit to promote people to people friendly context and economic and trade inter flow and actively carry out exchanges and cooperation in the field of economy, trade, science and technology, culture, sports, health, education, youth, administration, and the likes.
“I like to take this chance to express my wish in the future that we have more communication, and have more platforms in order to push for the economic, trade and development with the Philippine partner. I also would like more cooperation on transportation, agriculture, machinery and equipment manufacturing for the benefit of both the Chinese and the Filipino,” said Xu, whose province of Hunan is the hometown of Chinese President Xi Jinping.
Xi is scheduled to visit the Philippines in November for a state visit.
Vice Governor Daniel R. Fernando said this agreement signed by Gov. Alvarado will yield R50 billion worth of fresh investment from Hunan and will produce 100,000 job opportunities for Bulakeños.