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Wednesday, August 31, 2005
Investments pour in as Oro readies for trade mission
PROSPECTS are high that Cagayan de Oro City's trade delegation to China next month will bring in huge investments worth billions of pesos here and in Northern Mindanao.
Mayor Vicente Y. Emano expressed this optimism after getting the president's go-signal to lead a trade mission in key cities of China in June this year.
President Gloria Macapagal-Arroyo, who made a surprise visit here, also authorized the mayor to represent the Philippine government in holding "exploratory talks" with a group of businessmen from Beijing, China interested to put up a US$ 300M glass factory here in the country.
With the go-signal from the president, Mayor Emano said he would convince the Chinese investors to establish the glass factory at the Phividic industrial estate in Villanueva, Misamis Oriental.
The city mayor, together with a group of trade officials and local businessmen, has reportedly been invited to a global trade fair in Harbin, China.
There, the mayor will also formalize the economic and trade ties with Harbin as a sister city of Cagayan de Oro during a dinner to be hosted by the host government.
The city's trade delegation will then proceed to Shenyang where the city mayor is expected to discuss the US$ 200M proposal of another group of Chinese investors offering to finance the construction of the international airport in Laguindingan, Misamis Oriental and the Panguil Bay bridge in Misamis Occidental.
Expected to join in the business trip are officials from the Department of Trade and Industry (DTI) and Cagayan de Oro Chamber of Commerce and Industry (Oro Chamber), some city officials, and local businessmen. (CIO)
(August 31, 2005 issue)
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