200 Shandong Bizmen Explore Cebu’s Investment Potentials

More than 200 Chinese businessmen on Tuesday explored Cebu province’s investment potentials through a cooperation seminar organized by the People’s Provincial Government of Shandong, China.

Leading the delegation from Shandong is Governor Gong Zheng who addressed the participants, mostly prospective investors, and Filipino-Chinese businessmen based in Cebu during the China (Shandong) – Philippines (Cebu) Cooperation Seminar held at the Marco Polo Hotel in this city.

Gong said Shandong is an “economic powerhouse of China” vigorously undertaking strategic junctions of development and establishing cooperation among other countries, especially the Philippines.

He said his group is determined to bring about “40 companies that will carry out match-making to promote cooperation between Shandong and Cebu”.

The governor of Shandong said he hopes the “two sides will carry out economic trade cooperation” given the two countries’ shipping proximity, and “promote partnership on culture and tourism, information technology, manufacturing, and exploration of third-party markets.”

He said Shandong’s GDP (gross domestic product) of RMB Yuan 7.65 trillion (almost USD 1.14 trillion) accounts as the third largest in China. Shandong’s total number of market entities exceeds nine million, he added.

Consul General Jia Li of the People’s Republic of China in Cebu, in his message, praised Cebu’s cultural, industrial, trade, and tourism positions, stressing the province’s GDP and its fast-economic contribution rate “which is among the best in the country (Philippines)”.

Quoting the Philippine Statistics Authority (PSA) data, Jia said the “trade between two countries amounts to about USD30 billion in 2018 and has increased 18.1 percent year on year.”

“China is the largest trading partner of the Philippines,” he said.

The consul general of China in Cebu said the visit of President Xi Jinping in the Philippines last November has upgraded the relations of the two countries to a comprehensive strategic cooperation that led to the signing of 29 cooperation agreements covering agriculture, trade, infrastructure, construction, education, and other fields.

Both Gong and Jia underscored China’s commitment to support President Rodrigo Duterte’s “Build, Build, Build” program with Cebu as one of beneficiaries.

In his message to delegates, Presidential Assistant for the Visayas Michael Lloyd Dino thanked the provincial government of Shandong for choosing Cebu as its potential trading partner.

“We are here today, to forge new business alliances and create a more strengthened trade relationship that is mutually beneficial for each of our nation’s continued growth and development,” Dino said.

Dino said the Duterte administration is looking to complement the growth with infrastructure projects, citing Cebu’ vital role in our national economy.

“The ‘Build, Build, Build” program of the government will benefit the Visayas (central Philippine region) by the end of 2022. The administration’s major infrastructure plans for the region are already in the pipeline,” said Dino, citing the national government’s plan to build eight major bridges connecting the islands of Leyte, Bohol, Cebu, Negros, Guimaras, and Panay.

“Visayas will really be the Island of Bridges,” Dino quoted Duterte as saying. “These bridges will play a huge role in facilitating trade activities and business partnerships.”

He also told the delegates from China about the advocacy of his office to push for the Metro Cebu Integrated Intermodal Transport System (MC-IITS) which “will help address our mass transportation woes”.

Dino said IITS “is a mix of various transport systems, the backbone of which will be the Cebu Light Rail Transit, supplemented by the High Priority Bus System, a Monorail System, and rounded off by a common station.”

“The President’s vision for this Region and for the Philippines as a whole, which is embodied in this administration’s programs, is to achieve real and tangible development,” he said. “I trust that this partnership will be contributing significantly to our programs and endeavors.” (PNA)