Find out where Chinese businessmen are pouring their P50B in Bulacan
CITY OF MALOLOS, Bulacan — A group of Chinese traders from Hunan Province in China will invest around PHP50 billion for various infrastructure projects in this province which are expected to generate employment to some 100,000 Bulakenyos.
This, after a sisterhood agreement was forged between the provinces of Bulacan and Hunan on Tuesday night.
Bulacan officials headed by Governor Wilhelmino Sy-Alvarado and Vice Governor Daniel Fernando, and Governor Xu Dazhe of Hunan Province, China led the signing of the Letter of Intent on the establishment of friendship between the two localities held at the Sofitel Philippine Plaza Hotel in Manila.
Alvarado said a Rome/Italy-inspired commercial center, which will be called “Bulacan Mega City Pandi Economic Zone”, will soon be built that will be funded by the Chinese investors.
The ecozone that will rise in Pandi town will house a Philippine international outlet store, shopping mall, techno hub, factory outlets, industrial factories, warehouses and call centers. Construction will start on the first quarter of 2019.
Alvarado said the future business venture is an initiative of the Bulacan economic team headed by former Pandi Mayor Enrico Roque, Bulakan Mayor Patrick Meneses and former City of San Jose Del Monte Mayor Rey San Pedro.
“The Bulacan economic team has persuaded the governor of Hunan, China for P50-billion private investments which also include the MRT alignment project from San Jose del Monte City to Balagtas, NLEX toll exit for the town of Pandi and Balagtas, and infrastructure projects for the international airport proposed to be set up in Bulakan town, among others,” he said.
Fernando said the future business venture will result in urbanization of the municipalities of Pandi, Balagtas and Bocaue, which will merge as one city, making the province of Bulacan a hub of industrialization and a model of inclusive economic growth.
Roque said the future development “will also connect the MRT 7 Pandi-San Jose Del Monte City-Trinoma Railway that will not only aid in generating jobs but will help in boosting the developing industry in the province through its ease of access and speedy transportation”. (PNA)