Wednesday, March 21, 2007 Chinese investors eye Cebu
CHINESE investors and government leaders from Changchun City, China have expressed interest in Cebu’s booming business climate as they plan to forge closer relations with the province.
“We chose Cebu because the conclusion of the 12th Asean (Association of Southeast Asian Nations) summit created a good impression,” said Tang Tiesheng, deputy general of Changchun Bureau of Commerce.
Apart from the province’s strategic location, Tang cited “strong com-plementarities” between Cebu and Changchun in terms of “vast economic opportunities” as reasons for the Chinese city’s interest.
The 110-member trade mission from Changchun is studying Cebu’s business environment to determine possible trade and economic cooperation between both areas.
Tang told a press conference last Monday at the City Sports Club that Cebu can take advantage of many of China’s booming sectors, such as ready-to-wear (RTW) garments and textile, auto supply, light industrial products, electronics, Chinese medicine and other pharmaceutical products, school and office supplies, agriculture, machinery, real estate and tourism, among others.
“Many entrepreneurs in Changchun are very interested in Cebu,” he said in Chinese translated to English by interpreters who accompanied the trade mission.
According to Tang, Changchun investors are seeing bright prospects in Cebu’s construction, industrial production and agriculture sectors.
Department of Trade and Industry Cebu Provincial Director Nelia Navarro assured Changchun city officials that they” won’t go home empty handed” as she is optimistic Cebu’s fast growing economy has lots to offer.
Navarro, who described China as an “economic dragon,” said Changchun can benefit from Cebu’s established sectors like footwear, information and communication technology (ICT), garments, mining, food processing, marine products, gifts toys and house ware, tourism, and furniture, to name a few.
“Changchun mirrors the dynamism and entrepreneurial activities in China,” she said, adding that a technology transfer in the area of automotive industry can be helpful for the local automotive industry.
“The automotive industry is machine-intensive. We hope that China will build facilities here that are attuned to Chinese locals,” Navarro said.
Citing official records, Tang said Changchun, which is located in the northern part of China, has a population of more than seven million people.
Meanwhile, in line with this development, the Consulate of the Republic of China, Philippines Huatong Trade and Exhibit Cooperation (PHTEC) and the Province of Changchun will hold the China Changchun Investment and Trade Exhibit on March 23 to 26 at SM City.
The trade show, said Sunny Li of PHTEC, is the first Cebu-direct investment and trade exhibit, which will have 54 booths.
Tiesheng said the exhibit aims to foster closer cooperation and better understanding between Cebu and the Province of Changchun in the areas of economic and trade activities. (MMM)
