Trade Secretary Ramon Lopez (File photo by GRIG C. MONTEGRANDE / Philippine Daily Inquirer)
SINGAPORE—China is in search of vast tracts of land in the Philippines that they can develop into industrial parks, according to Trade Secretary Ramon Lopez.
Lopez said the Philippines and China might sign a memorandum of understanding (MOU) on the development of industrial parks during Chinese President Xi Jinping’s visit next week.
“I know there’s [a deal] on industrial parks. Some companies are interested, there’s still one more interested, possibly [in] iron and steel manufacturing,” he said on the sidelines of the 33rd Association on Southeast Asian Nations Summit, which ended here on Thursday.
Ongoing consultation
“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.
Lopez did not disclose details about the supposed deal to develop industrial parks in the country.
“They are now looking for locations where they can build these industrial parks,” the trade secretary said.
1,000-hectare townships
China, he said, wants to develop land into townships, which means that instead of the usual 200 hectares for manufacturing, it may require more than 1,000 ha.
“That’s where it’s taking a little time. Which places [in the Philippines] can offer that big an area that is near the port, or where they can develop a port at least?” he said.
Lopez said a Chinese property developer, Country Garden, had already sent a team to the country to conduct market, feasibility and location studies.
“They are serious in property development projects in our country,” he said.