Chinese hotel chain, Filipino-Chinese firm to build economy hotels in Metro Manila
SHANGHAI–Officials of a chain of Chinese hotels and a Filipino-Chinese food manufacturer have informed President Aquino of its plan to extend budget hotel operations in the Philippines.
Jinjiang International Hotel Investment Company CEO and Zurong Xu and Liwayway Marketing Chairman Carlos Chan paid a courtesy call on the President at the Shangri-la Hotel on Friday.
The President, together with Department of Trade and Industry Secretary Gregory Domingo and other Cabinet secretaries, witnessed the brand licensing contract signing which states that Jinjiang and Liwayway will be investing US$850-million to construct economy hotels in key areas of Metro Manila.
Jinjiang is one of the leading budget hotel conglomerates in China while Liwayway, a company known for its snack products, expanded their business into real estate.
President Aquino also witnessed the simultaneous signing of two Memoranda of Understanding, a Memorandum of Agreement, a Memorandum of Cooperation and a Letter of Intent between Philippine and Chinese businesses after keynoting the Philippine-East China Business Forum.
The Chief Executive witnessed the signing of an MOU between the Philippines and China’s Jiangsu Huaihai Construction Group “to establish and expand construction and real estate development facilities in the Philippines.”
Article continues after this advertisementThere was also the MOU entered into by China’s Huawei International Pte. Ltd., Next Mobile, Inc. and Information Capital Technology Ventures Inc., “to propose an information technology program for government use.”
Signings of a MOA between Subic Bay Metropolitan Authority and HydroChina International Engineering Co. Ltd., a Memorandum of Cooperation between Cagayan Ironsand Corporation and Heibei Iron and Steel Group and a Letter of Intent of Tan Holdings expressing its intent to expand its operations in the country were also witnessed by the President.
