House Speaker Bebot Alvarez recently witnessed the signing of several agreements between Guangxi state-owned companies and local investors.
This transpired during the China (Guangxi)-Philippines Business Matching Seminar for Entrepreneurs held at the Makati Shangri-la Hotel.
Alvarez was among 12 Filipino and Chinese government officials and business leaders who witnessed the signing of the deals.
The forging of agreements was done after the opening rites of the seminar attended by about 150 entrepreneurs from both countries.
The Speaker said that there is an active trade relations between Guangxi and the Philippines, and that there is much room for more investments in the country.
He is optimistic that the business matching forum will contribute to the growth of the economies of both the Philippines and China and will foster more cordial relations of friendship and understanding.
The event was attended by officials of the Autonomous Region of Guangxi led by Peng Qinghua, the Communist Party of China (CPC) chief in south China’s Guangxi Zhuang Autonomous Region: Jin Yuan, Counselor of the Economic and Commercial Counsellor’s Office, Embassy of China in the Philippines; Shi Shenglong; Jiang Liansheng, Director General, Department of Commerce; Gan Lin; and Wie Ran.
The business agreements include port cooperation with the Guangxi Beibu Gulf Port Group Co. Ltd., a large state-owned enterprise directly under the administration of Guangxi government and one of the Top 500 enterprises and Top 100 service enterprises.
The agreement provides for cooperation and communication through port information sharing, technological communication, project investment, personnel training, port security, meetings and mutual visits.
The other agreement with Guangxi Beibu Gulf Port Group Co. Ltd., provides for international logistics network nodesbuilding, lateritic nickel ore procurement and freight routes.
The agreement provides for joint building of international logistics network nodes by playing their respective advantages, and participate in the development, operation and management of Philippine port project through necessary investigations and preliminary feasibility studies.
Another agreement signed was a hydropower station contracting project with China Energy Engineering Group, Guangxi Hydroelectric Construction Bureau Co., Ltd.
The other investment deals are: plywood trade and investment agreement with Liuzhou Steed Wood Industry Co., Ltd.; strategic cooperation on tourism with Guangxi Tourism Development Group; and charter flights between Nanning and Manila which is a project facilitated by Guangxi Development and Reform Research Association and Department of Commerce of Guangxi. Nanning Xi Yangyang International Travel Agency intends to use its own advantages to carry out tourism charter business with tourism enterprises in Philippines.
Among the Philippine government and business leaders who attended the business seminar opening were Rep. Arthur Yap (3rd District, Bohol), chairman of the House Committee on Economic Affairs, and Head of the Phil-China Parliament Friendship Group; representatives of the Department of Trade and Industry (DTI), Philippine Chamber of Commerce and Industry (PCCI), and Philippine Silk Road International Chamber of Commerce.