Chinese business delegation arrive for invest exploration

National Economic Development Authority (NEDA) XI Director Maria Lourdes D. Lim bared on Thursday that a 29-person Chinese delegation is in Davao City for a two-day exploratory mission of the city’s economic prospects.

“This is the result of the commitment of Chinese Vice Premier Wang Yang,” said Lim.

Wang Yang declared on March during his visit to Davao City that representatives of the Chinese government plan to return to the city for the next month for another round of meetings and inspection.

Lim said the group is headed by the Chinese Ministry of Commerce and accompanied by representatives of state corporations.

Lim bared the Chinese delegation has already committed to conduct the feasibility study of the expressway project.

“Hopefully we can expand the loan package,” said the NEDA XI director.

Lim said that the delegation is also eyeing to bid on the PPP for the Davao International Airport as well as five other projects in the pipeline.

Meanwhile, a separate Mindanao railway feasibility study is being scheduled for presentation to the NEDA board investment committee by the third quarter of the year.

During the 2016 Report on the Economic Performance of Davao Region at Royal Mandaya Hotel, Davao CIty, Lim said that at the moment, the coastal road project is being implemented by the DPWH with an initial funding of P2 billion that will be utilized for the purchase of road rights of way.

On March 17, Wang met with President Rodrigo Duterte reaffirming the strong bilateral ties between the Philippines and China.

The next day, Wang inked a six-year development program to work together on trade and investment, part of Duterte’s strategy to engage China as a buyer of local farm and fisheries produce and a builder and financier of its much-needed infrastructure.

This after the vice premier, accompanied by officials from the Davao City government and the National Economic Development Authority, conducted rounds at the Sta. Ana Wharf and other sites such as the Davao City expressway project, coastal road, coastline and port development project, the Mindanao railway project, and the Francisco Bangoy International Airport.