Chinese firm commits more investments in PH after Marcos Jr.’s China visit
MANILA, Philippines — A Chinese construction firm has committed more investments through public-private partnership (PPP) after President Ferdinand “Bongbong” Marcos Jr.’s visit to Beijing this month, Malacañang said Monday.
According to the Presidential Communications Office (PCO), officials of the China Communications Construction Co. Ltd. (CCCC) paid a courtesy call to Marcos in Malacañang on Monday
During the meeting, they proposed the construction of the 270-kilometer Laoag City-Rosario City Highway Project and the introduction of China’s Juncao technology to the Philippines.
“The CCCC proposed to build a Juncao Technology Demonstration Center and a Juncao Industrial Park for Juncao grass cultivation and processing,” the PCO said in a statement.
Juncao is a hybrid of the Giant Napier Grass developed by the Fujian Agriculture and Forest University from eight different grasses through tissue culture.
The proposed Juncao technology project, once approved, will be funded through Chinese foreign aid, the PCO said.
Aside from this proposal, the CCCC officials also provided the President with an update on its ongoing infrastructure projects in the Philippines.
This included the Samal Island-Davao City Connector (SIDC) Project and North & South Harbor Bridge, among others.
For his part, Marcos said the central part of his administration’s economic policy is the establishment, endorsement, and promotion of PPPs, in which the CCCC could participate.
He said the government has changed the regulations and rules for the establishment of PPPs to make it “more attractive for private corporations to come into the Philippines and work with the government.”
The President, however, added that the administration will not limit these partnerships to just PPPs.
“It can be of any nature – commercial venture or joint venture with a local partner. Of course, the PPP, where you have partnership with government, even G2G — government-to-government arrangements — are also something that we have been doing for a long time and again that we wish to further,” he said, quoted by the PCO.
The Philippines has also relaxed the rules to allow foreign contractors to bring in their own professionals with the aim of encouraging technology transfer, Marcos said.
He also said he hopes the CCCC could assist the Philippines in carrying out projects that ensure environmental sustainability in the midst of the threats posed by climate change.
According to the PCO, the CCCC is a Chinese state-owned enterprise mainly engaged in transportation infrastructure projects such as roads, bridges and railways.
Currently, it has more than 60 wholly owned subsidiaries and has operated in more than 150 countries and regions.
Aside from government projects, the CCCC is also involved in ongoing private-led reclamation projects in Metro Manila, such as the Pasay Harbor City Reclamation Project and Manila Waterfront City Development Project.
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