SINGAPORE – China is searching vast tracts of land in the Philippines to develop into industrial lands, Trade Secretary Ramon Lopez has revealed on the sidelines of the 33rd Association of Southeast Asian Nations (Asean) Summit here.
In an ambush interview with reporters, Lopez said the Philippines and China might sign a memorandum of understanding to develop industrial lands in the country.
The trade chief said the MOU could be signed during the visit of Chinese Presdient Xi Jinping in Manila on November 21.
“I know there’s a deal on industrial parks. Some companies are interested, there’s still one more interested, possibly on iron and steel manufacturing,” he said Thursday.
“But it’s not yet cleared with the Chinese side. So it appears there’s still an ongoing consultation. But what I know for sure is an MOU on industrial parks,” he added.
China is now looking for locations of land for township, he also said.
“They are now looking for locations on where they can build these industrial parks. It’s open to the entire country,” he said.
Instead of the usual 200 hectares for manufacturing requirements, Lopez said, China may require more than 1,000 hectares.
“That’s where it’s taking a little time. Which places here can offer that big an area that is near the port, or where they can develop a port at least?” he said.
A Chinese property developer, Country Garden, already has a small team in the country which has been conducting market, feasibility, and location studies, according to Lopez.
“They are serious in developing property development projects in our country,” he said. /kga