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Top Chinese official brings $6-B deals to PH

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Top Chinese official brings $6-B deals to PH

/ 12:44 AM March 18, 2017
The Philippines and China exchanged letters related to the first two feasibility studies of nine China-backed projects. The feasibility studies pertain to the construction of the Panay-Guimaras-Negros Bridges Project and Davao City Expressway Project. Signatories are Finance Secretary Carlos Dominguez (left) and Vice Minister Fu Ziying of China’s Ministry of Commerce. —CONTRIBUTED PHOTO

The Philippines and China exchanged letters related to the first two feasibility studies of nine China-backed projects. The feasibility studies pertain to the construction of the Panay-Guimaras-Negros Bridges Project and Davao City Expressway Project. Signatories are Finance Secretary Carlos Dominguez (left) and Vice Minister Fu Ziying of China’s Ministry of Commerce. —CONTRIBUTED PHOTO

DAVAO CITY—Chinese 3rd Vice Premier Wang Yang is in town with about $6 billion in deals, including agreements for agriculture exports to China, and loans for infrastructure projects such as railways and hydroelectric dams.

Wang, the highest Chinese politburo official to visit President Duterte’s hometown, arrived in the Philippines on Thursday and will spend his four-day visit meeting Mr. Duterte and other top Philippine officials and businessmen.

On Saturday, Wang will visit Sta. Ana Pier, which is part of the proposed Davao Coastline and Port Development project. He will also be briefed on other proposed projects such as the Davao City Expressway and the Mindanao Railway.

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The governments of the Philippines and China have exchanged letters related to the feasibility studies on the construction of the Panay-Guimaras-Negros Bridges Project and Davao City Expressway Project. Finance Secretary Carlos Dominguez and Vice Minister Fu Ziying of the Ministry of Commerce signed the documents.

Wang will also meet with officials on the Davao Airport Project, which aims to upgrade the capability of Francisco Bangoy International Airport. The airport, which currently handles both domestic and international flights, has only one runway.

Aside from the packages, Wang also brought with him unspecified amount of donation for quake-hit Surigao.

Economic Planning Secretary Ernesto Pernia and Fu Ziying, China’s international trade representative, have signed the Six-Year Development Program (SYPD) for trade and economic cooperation between the Philippines and China.

The SYDP aims to steer and promote stable and orderly development of economic cooperation, enlarge the scope and enhance the level of cooperation, and drive sustainable and inclusive socioeconomic development in both countries.

Mr. Duterte has reestablished warm ties with China when he won the presidency last year amid the controversy over Chinese activities on Panatag (Scarborough) Shoal.

Last week, Chinese Minister of Commerce Zhong Shan also made a three-day visit to the Philippines, during which, the suspended Philippines-China Joint Commission on Economic and Trade Cooperation had been restored.

Direct flights between southern China and Manila and Cebu could also open this year. —ALLAN NAWAL

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TAGS: China-Philippines relations, Infrastructure projects, loans, Wang Yang
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