CHINESE investors are lining up to participate in the government’s Build, Build, Build program.
Officials of the Allianz International Machinery and Trading Corp. (Allianz) yesterday said the Duterte infrastructure-centric government has piqued the interest of Chinese investors to increase their investments in the country.
Allianz chairman Jacky Fong said they are cashing in on the construction boom that is going on all over the country, as well as in the massive infrastructure program under the Duterte watch.
“There are so many projects under the Build, Build, Build program of the government that we want to be part of,” said Fong.
Allianz is focused on sales, rental and service of China’s heavy equipment and trading materials in the Philippines. It first opened in Manila in 2007 and later on expanded to Davao City in 2012.
Today, the company is opening its Cebu office on Plaridel St. Barangay Alang-Alang, Mandaue City, marking its presence in the Visayas.
Fong said they want to help the Visayas grow, as it plans to interconnect islands to boost trade and tourism.
“There is so much opportunity to grow in this region,” he said.
Ronald Yang, Allianz general manager, said their continued investment in the Philippines is buoyed by its growing economy and infrastructure boom.
“Having solid infrastructure makes it easier for the country to grow,” said Yang.
Allianz is an authorized dealer in the Philippines for XCMG, Shantui, and Sinotruk. Their main products include concrete machinery, lifting machinery, road machinery, earth moving machinery, foundation machinery, heavy-duty trucks and special vehicles.
Fong announced that as the company cements its position in the country, it plans to set up a heavy equipment assembly plant in Subic next year to cater to the local demand.
The planned three-hectare assembly plant will require some P200 million in capital and would hire at least 100 workers, depending on the demand.
“Currently, the bilateral relationship between the Philippines and China is improving. Investments from China increase greatly. The requirements for infrastructure improvement are strong and urgent. The next five years would be a golden period for the Philippines. Allianz is dedicated to build the window for China heavy equipment and building materials...to serve the Philippines,” said Fong.
Yang noted that the misconception of “China-made products” being low-quality has already changed, as China’s technology has improved and are recognized globally.
“Maybe some six years ago, the thinking is like that. But it’s different now. We are confident pushing these brands because quality is there,” said Yang.