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Thursday, March 28, 2024

Chinese companies eyeing PH projects

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China’s largest construction companies visited the country to explore infrastructure prospects, amid improving outlook on bilateral relations between Manila and Beijing.

China-Asean Business Council executive president Xu Ningning led a 30-man delegation representing 10 Chinese firms for a one-day visit, according to the Trade Department.

The Chinese delegates met with Transportation Secretary Arthur Tugade, Trade Secretary Ramon Lopez and Public Works Secretary Mark Villar.  The Philippine visit is a part of the group’s three-leg mission that also included Myanmar and Vietnam.

The delegation also met with the other government agencies and with top officials of the local construction industry. 

The Chinese group has varied expertise on projects such as flood control, industrial parks, construction materials, engineering and railways.

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Among the projects built by the group are the iconic Birds Nest, the main stadium for the Beijing Olympics and the CCTV building headquarters.  It also built major projects in Southeast Asia and Africa.

The group included officials of Nantong Hua Xin Construction Engineering Group Co. Ltd., China No. 3 Construction Group Co. Ltd., China Qidong Construction Group Co. Ltd., China Zhongxin Construction Group Co. Ltd., China Zhengfang Foundation Project Co. Ltd., China Longxin Construction Group Co. Ltd. Overseas and China Jiangzhong Group Co. Ltd.

Also included were representatives from China Jiangzhong Group Co. Ltd. Overseas Branch, China Hua Xin Construction Engineering Group Co. Ltd., China Tong Zhou Construction General Contracting Group, China Construction Group Co. Ltd., China Chang Qing Construction and Installation Engineering Co. Ltd., China Construction Industry Association and Jiangsu Tongchenghuihuang International Travel Service.

“These private companies have capitalization of $1 billion each. They just want to find construction and investment opportunities especially with the Asean economic integration,”  said Xu.

The group expressed hope that bilateral relations between the Philippines will soon improve under the Duterte administration.  “It is time to take off and for Chinese companies to come here,” said Xu.                         

International Chamber of Commerce of the Philippines founder and Philippine Chamber of Commerce and Industry chairman emeritus Francis Chua said it took a while and several negotiations before the Chinese group decided to come to the Philippines.

“We talked about lots of investments in previous years but all fizzled out, but this one they believe the two countries have better relations. so they are encouraged to invest in the country. They are also looking at partnerships and joint venture deals with Filipino businessmen,” said Chua.

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