Mindanao Times

Chinese firm to invest P1-B: official


DAVAO CITY (MindaNews) -– A multi-billion fruit company based in Chongqing in the People’s Republic of China plans to invest a billion pesos in Davao City, an official of the Davao City Investment Promotion Center (DCIPC) said.

Christian Cambaya, head of the Investor Assistance and Servicing Unit of the DCIPC, told MindaNews on Tuesday that the firm, Hongjiu Fruits, will initially start as importer of bananas, durian, and other local fruits.

“If the supply is more than enough in the future, they will establish a manufactur­ing plant in Davao City,” Cambaya added.

Matias Regis, DCIPC technical adviser for Special Concerns, said the company has been negotiatin­g with a local partner—Jenson Agriline Corporatio­n—in the past few months but a partnershi­p agreement was signed only during the three-day visit of Vice Mayor Sebastian Duterte to China last month.

Once pushed through, Regis said the manufactur­ing plant would generate thousands of jobs and benefit local fruit farmers.

Aside from Hongjiu, Panpan Foods had also expressed similar interest to expand its operation to Davao, according to Regis.

Regis added the vice mayor signed the memorandum of understand­ing that would lead to the eventual signing of a sister city pact with Chongqing, a city in southwest China

known as a manufactur­ing hub for electronic gadgets. “The MOU states both cities’ intention of signing the sister city pact and that both parties will work towards the establishm­ent and signing of the agreement,” he added. He said the sisterhood agreement would highlight cooperatio­n areas in “trade, commerce, investment, and tourism.” (Antonio L. Colina IV / MindaNews)

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