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HomeThe NewsNews FlashChina targets Cotabato City for multi-million dollar worth of investments

China targets Cotabato City for multi-million dollar worth of investments

17021424_596909727174375_3828411019688224732_nCotabato City is seemingly one of the cities that benefit from the blossoming relationship between the Philippine government and the People's Republic of China. Recently, Chinese investors have been in constant communication with City Mayor Atty. Frances Cynthia J. Guiani-Sayadi, soliciting information regarding the development thrusts of the city.

And just last February, 3 companies from China went to the city to erect samples of solar and wind powered street lamps. In adherence to the city government's aim to make Cotabato City an eco-friendly city, an estimated 4000 these environment-friendly streetlamps will be erected in the main and sub streets of the city. City Mayor Guiani-Sayadi, together with her technical team, is now studying each of the three companies' profile.

Just this week, executives from the Shanghai Construction Group Co., the leading construction company in China, had a meeting with City Mayor Guiani-Sayadi in Manila. The company is interested in investing on low to mid cost housing. They are planning to partner with the city government in establishing houses for resettlement purposes and also for the government employees village, a project of the city LGU. Together with her technical team, City Planning and Development Coordinator Engr. Adela Fiesta, CENRO Engr. Crisanto Saavedra, and Engr. Domingo Guariño, Jr., one of the city government's consultants, the Mayor has presented several other projects including the establishment of the city airport and seaport, and the proposed special economic zone for Cotabato City.

She said SCG is interested in partnering with the city government in all these projects but they are most interested in the housing project. After the meeting, the city's technical immediately formulated a plan of action so that they will be able to finish their proposal the soonest possible time. "Our meeting has ended with the commitment of the Shanghai Construction Group to help the city in implementing these major infrastructure projects and once we finish all of these, and I am positive that we will, then I can say that Cotabato City has truly achieved all its goals", Mayor Guiani-Sayadi said. Within the next few weeks, when the proposal is finished, the Mayor will once again meet with the Chinese investors to "seal the deal".

"We are looking at entering into a private-public partnership or PPP. It will depend on the agreement between the parties the counterpart of each. But I am sure that the city government can comply", the mayor further added.

The Shanghai Construction Group Co. has already built hundreds of various infrastructure projects not just in China but in countries such as Russia, the USA, Egypt, Cambodia and many others. The company is the one that built the Shanghai Tower and the Guangzhou TV Tower, two of the tallest towers in the world. They have also built power plants, airports, recreational facilities, and landmarks. With a history of over 60 years, it is generating up to Chinese RMB 114 billion or more than USD 16 billion every year.

The city mayor was able to engage this company with the help of her family and friends in China, as her roots can be traced in Xiamen, like many of the Chinese descents here in the Philippines.

The better peace and order situation experienced by Cotabato City right now has also brought back the confidence of companies to invest here. Both local and foreign investors are interested in putting up infrastructure and commercial projects in the city within the next two years.

 

Written with: ROHAIMA S. ESMAEL
BaCom 3, NDU
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