The setting up of a liquid steel plant as a result of the agreement recently signed by the Philippines and China will help revive the country’s steel industry, according to Philippine Ambassador to Beijing Jaime FlorCruz.
“Kung titingnan po natin iyong 14 agreements, nakikita po naman natin na mukhang solid naman ang mga proyekto na nasa table ngayon. Halimbawa po, iyong agreement ng Baowu Steel at SteelAsia,” FlorCruz said at a media forum in Quezon City.
(If we check the 14 agreements, we can see some solid projects on the table. One example is the agreement between Baowu Steel and SteelAsia.)
“Ang ini-expect po natin ay magpapasok ng 1.5 to 2 billion dollar investment para magtayo ng unang-unang liquid steel plant,” the envoy added.
(We are expecting this to pour in 1.5 to 2 billion dollars of investment to set up the first liquid steel plant.)
“So ang plano pong ito ay mag-uumpisa iyong ating steel industry. Kasi kung wala tayong steel industry na sarili, iyong manufacturing natin, lalo lagi tayong reliant on imports.”
(So this plan will start our steel industry. Because if we don’t have one, our manufacturing sector will always be reliant on imports.)
He said the project is expected to generate 2,000 to 3,000 jobs.
Fourteen bilateral deals were signed during President Ferdinand “Bongbong” Marcos Jr.’s state visit to China from January 3 to 5, including investment pledges worth $22 billion.
These deals were in the sectors of agriculture, infrastructure, development cooperation, maritime security, and tourism, among others.
FlorCruz said the bilateral deals are aligned with the goals and needs of the government.
“Makikita po aligned ito sa ating pangangailangan dito. Hindi lang po ito dahil gustong magbenta ang China kung hindi dahil po kailangan natin at magbe-benefit tayo sa mga ganitong agreement,” the ambassador said.
(We can see that these agreements are aligned with our needs. These are not just because China wants to sell them; we need them and will benefit from them.)
He said the deals secured by the President would deliver tangible benefits and concrete projects.
“Paano po natin ma-assure na mangyayari ‘yung pinapangako? Hindi po madali. Kasi kailangan ng follow through at ‘yun ang importante. ‘Yung mga pledges po, una, ay ang tingin ko nanggagaling sa taas. Hindi lamang ng mga kumpanya, mga Chinese companies na nag-sign,” FlorCruz said.
(How can we ensure that these pledges will materialize? It is not easy because we need to follow through. The pledges, first of all, came from the higher-ups, so it’s not only the Chinese companies that signed them.)
