HONG KONG – President Gloria Macapagal-Arroyo said on
Wednesday that the Philippines has "very good prospects" of attracting huge
investments from mainland China’s corporate giants, and getting significant official
development assistance from Beijing.
Assessing the outcome of her five-day,
five-province trip to the mainland to co-chair the 15th Association of
Southeast Asian Nations (Asean) + China Summit in Nanning with Chinese Premier Wen Jiabao,
the President said among the top Chinese investors interested in expanding its investment
in the Philippines is Bau Steel, the No. 1 steel company in China and No. 5 in the world.
Bau Steel and China Development Bank are investing
$1 billion in the Nonoc nickel mine in Surigao.
The President said the Philippines and China have
been working on the Chinese investment in Nonoc since 2005 and "I would really like
to see the investments on the ground already because the people of Surigao certainly can
benefit from that."
Surigao is one of the 10 poorest provinces of the
Philippines.(full story) released 02 Nov
2006
