Philippines' Davao City eyes more Chinese investments in agriculture, manufacturing-Xinhua

Philippines' Davao City eyes more Chinese investments in agriculture, manufacturing

Source: Xinhua| 2022-06-28 11:43:28|Editor: huaxia

MANILA, June 28 (Xinhua) -- The Philippines' Davao City wants Chinese investors to take advantage of the bright business climate and the myriad business opportunities offered by the city, especially in the agriculture and manufacturing sectors.

To attract more Chinese investors, April Marie Dayap, director of the Davao City Investment Promotion Center, told Xinhua that the southern Philippine city has offered preferential policies for investors to do business in sectors such as agriculture and food processing, manufacturing, and tourism.

Dayap said China is the largest investment partner of Davao City. "We export a lot of agricultural products to China, and many Chinese businesses are being established in Davao City," she added.

Under the incoming administration, Dayap said Davao City would like to focus more on investment promotion targeting the Chinese market. "We would like to invite more Chinese people to come here to discover what we can offer and what they can do," she told Xinhua.

Dayap said the area's abundant supply of agricultural products, availability of raw materials, and low labor cost make investments in agribusiness, food production, and other agri-industrial processing viable.

In recent years, Davao City and the Chinese side have achieved fruitful cooperation in the fields of people-to-people and cultural exchanges, agricultural cooperation, infrastructure investment, fighting COVID-19, and aboriginal poverty alleviation, bringing tangible benefits to the people of both sides.

According to Li Lin, the Chinese Consul General in Davao City, the young coconuts, avocados, and tuna products from Davao City have already been on the table of the Chinese people, and durian is also expected to be exported to China this year.

"We are also helping locals grow bananas locally, providing them with start-up capital, banana seedlings, fertilizers, pesticides, and technical guidance. Moreover, we are supporting aboriginal women to learn and improve the production skills of ethnic costumes and characteristic handicrafts to increase their income and pass on their culture," said Li.

On June 13, the Philippines and China exchanged the agreements to finance the cross-sea bridge connecting Davao City and Samal Island in the southern Philippines.

Once completed, the bridge will provide a resilient and reliable transportation link between Davao City and Samal Island, improving transportation efficiency, promoting internal mobility, and stimulating tourism potential. In addition, the project will create thousands of jobs, contributing to local economic recovery and people's livelihood.

Sebastian Duterte, who took oath to become Davao City's new mayor on Monday, earlier thanked China for its "generous support" to Davao during the COVID-19 pandemic and expressed his optimism about the future of Davao's deepening cooperation with China.

Noting that Davao City has abundant and highly skilled workers, he said, "The two sides can increase cooperation in agriculture, manufacturing, and other fields in the future."