Sunday August 19, 2018

Chinese groups plan to invest in Misamis Oriental

ANOTHER group of Chinese businessmen are planning to pour investments in Misamis Oriental.

On Tuesday, Zheng Feng Quan, Chen Xiang Ling, Zhang Dong Jian, and Xie Ling Quing of the Fujian San Jia Steel Limited, Xu Wen Jun, and Spencer Wu of Xin Yuan Enterprises Group, and Charlie Wei Co of the Hongkong Cintai (China) Investment sought the economic background of the province.

Stanley Uriarte, chief of the Provincial Planning and Development Office (PPDO), said the meeting with the Chinese groups was positive.

Uriarte showed off the province's booming tourism and power stability.

Uriarte said he also related to the investors Misamis Oriental's different programs on industrial and agricultural sector particularly in the non-food crops, which include Abaca, cacao, coconut, coffee, tea, rubber, and tobacco. He said the province's tobacco production has reached 530,777 metric tons.

"The province is a really good investment area because we have a big land area, stable water and electric supply," he said.

It can be recalled that a Chinese construction firm is also eyeing Tagoloan town, Misamis Oriental as a site for a $3 billion steel mill.

Ansteel Construction Group Corporation Limited, one of the biggest steel firms in China, is looking at three possible sites in the Philippines, namely Misamis Oriental, Subic and Pampanga.