- China is in search for large areas in the Philippines as site for its industrial parks
- Preferably, the location should be near a port or a place where a port could be developed
- The MOU for industrial parks will be signed during Chinese President Xi Jinping’s state visit here
China is looking for vast tracts of lands in the country where it can build industrial parks.
In an interview on the sidelines of the 33rd Association of Southeast Asian Nations Summit held in Singapore, Department of Trade and Industry Secretary Ramon Lopez revealed that China is in search of large areas in the Philippines as potential locations for industrial parks it plans to develop.
As mentioned in the Manila Bulletin, Sec. Lopez mentioned that a memorandum of understanding (MOU) for the development of industrial parks will be signed during Chinese President Xi Jinping’s state visit to the country scheduled on November 20-21, 2018 which coincides with the 30th anniversary of diplomatic relations between the two nations.
Lopez said China requires more than 1,000 hectares for the planned industrial parks. He said the location can be anywhere in the country, but preferably near a port or in a place where a port could be developed.
Three locations in Luzon and two in Mindanao are being considered as the possible location for the Chinese industrial parks.
Country Garden, a Chinese property developer, already sent a small team to the country to conduct feasibility and market studies, Lopez revealed.
Earlier this year, Chinese Ambassador to the Philippines Zhao Jinhua said Chinese investments for industrial parks in the Philippines means that more jobs would be created for Filipinos while increasing the production capacity of the country.