Bulacan draws P13.9B investments from Chinese traders

Bulacan Provincial Capitol (Photo by Carmela Reyes-Estrope)

CITY OF MALOLOS, Bulacan- Chinese businessmen have invested nearly P14 billion (US$254 million)  in housing, aquatic materials, vehicles and heavy equipment ventures in Bulacan.

Gov. Daniel R. Fernando and officials of Changsha County, Hunan Province in China led by Wu Guiying, Communist Party secretary of the Changsha Municipal Committee, signed a business partnership on Sunday at the Capitol.

The business ventures include the Broad Group Philippines Government Affordable Housing Project worth $18 million; the importation of Philippine aquatic products worth $40 million; the sales and local assembly of Foton Philippines vehicles in 2024 worth $180 million; and the sales contract for excavator equipment worth $16.82 million, or equivalent to P13.9 billion.

Local Chinese businessmen, such as those from the Hunan Chamber of Commerce, Sunward Philippines Inc., Zhongxin Guotai Construction Corporation, Zoomlion Heavy Industry Philippines Inc., Hon-Kwang Electric Philippines Inc., and Sany Philippines Inc., also donated food and non-food items including 435 boxes of medicines, 165 boxes of diapers, 140 boxes of canned goods, 100 sacks of rice, and 250 assistive devices, to the province.

The donations will be distributed to 29 orphanages and homes for the elderly in the province through the Provincial Social Welfare and Development Office.

According to Fernando, he is humbled and elated by the potential that the partnership holds.

“Let us seize this opportunity to work together, building bridges that connect our regions and creating new avenues for development. Together, we will write a chapter of success and cooperation that will be remembered for generations to come,” the governor said.