MANILA – President Ferdinand R. Marcos Jr. on Monday met with business leaders from China and the United States to discuss investments and other partnerships.
In a news release, the Presidential Communications Office (PCO) said officials of China Communications Construction Co. Ltd (CCCC), a Chinese state-owned enterprise, paid courtesy call on Marcos at Malacañan Palace and committed to more investments following the President’s state visit earlier this month.
“…Officials of the China Communications Construction Co. Ltd proposed the construction of the 270-km Laoag City-Rosario City Highway Project and the introduction of China’s Juncao technology to the Philippines,” the PCO said.
The CCCC proposed to build a Juncao Technology Demonstration Center and a Juncao Industrial Park for Juncao grass cultivation and processing.
Juncao is a hybrid of the Giant Napier Grass developed by the Fujian Agriculture and Forest University from eight different types of grass through tissue culture.
The proposed Juncao technology project, once approved, will be funded through Chinese foreign aid.
CCCC officials also updated Marcos on their ongoing infrastructure projects in the Philippines, including the Samal Island-Davao City Connector Project and North & South Harbor Bridge, among others.
Marcos, meanwhile, reiterated the importance of public-private partnerships (PPPs) as a “central part” of his government’s economic policy.
“It can be of any nature – commercial venture or joint venture with a local partner. Of course, the PPP, where you have partnership with government, even G2G -- government-to-government arrangements -- are also something that we have been doing for a long time and again that we wish to further,” he said.
He said the government has changed the regulations and rules for the establishment of PPPs to make it more attractive for private, but added that his administration will not limit these partnerships to just PPPs.
He also hoped the CCCC could help the Philippines in carrying out projects that ensure environmental sustainability amid threats posed by climate change.
The CCCC is a Chinese state-owned enterprise mainly engaged in transportation infrastructure projects such as roads, bridges and railways.
To date, the CCCC has more than 60 wholly owned subsidiaries and has operated in more than 150 countries and regions.
Aside from government projects, the CCCC is also involved in ongoing private-led reclamation projects in Metro Manila, such as the Pasay Harbor City Reclamation Project and Manila Waterfront City Development Project.
Stronger PH-US ties
Meanwhile, Marcos also welcomed at the Palace members of the US-Philippines Society, a non-profit organization that aims build on historical ties between the two nations.
During their meeting, the President underscored the importance of forging strong ties with the country’s friends and partners in the US, Southeast Asia and the entire Asia Pacific amid present geopolitical challenges.
“And that is when we once again look to our friends and partners in the United States to be our treaty partner, and of course, our neighbors in ASEAN (Association of Southeast Asian Nations) and the entire Asia Pacific extending up to the Indo-Pacific,” Marcos said.
“These partnerships have become as important as they have ever been in our entire joint history. And that is why I am very happy to see that the US-Philippines Society is so active, '' he added.
He also welcomed the growing US-Philippines relationship and thanked the organization for strengthening the ties that he described as an “evolving relationship” amid the current changes.
The US-Philippines Society is a private sector initiative organized to broaden and expand interaction and understanding through basic research and/or applied research in the areas of security, trade, investments, tourism, the environment, history, education and culture between the US and the Philippines which would benefit the American public and the people of the Philippines.
Meanwhile, Executive Secretary Lucas Bersamin led the oath-taking of eight new members of the Marawi Compensation Board – Dalomabi Lao Bula, Mustapha Dimaampao, Moslemen Macarambon Sr., Nasser Macapado Tabao, Mabandes Sumndad Diron Jr., Jamaica Lamping Dimaporo, Sittie Aliyyah Lomondot Adiong and Romaisa Lomantong Mamutuk.
Bersamin also swore in Romulo Victoria Arugay as chair of the Commission on Filipinos Overseas. (PNA)