TWENTY-NINE business delegates from China arrived in Davao City on Wednesday night to conduct exploratory mission in the city and spot possible investment potentials.
At the sidelines of the Philippine Statistics Authority (PSA)-Davao press conference for the 2016 Davao Region economic performance at The Royal Mandaya Hotel on Thursday, May 4, National Economic Development Authority (Neda)-Davao regional director Maria Lourdes Lim told reporters that the Chinese group will be staying in the city until Friday, May 5.
The delegation, led by the Chinese government's Ministry of Commerce, is composed of various China-based state corporation including China Development Bank.
"They (Chinese delegation) already expressed interest for various big ticket projects in the city. The mission is aimed at looking for a possible project that they can submit for offer," she said.
These projects include P24.5-billion Davao City Expressway, seaport, airport and monorail projects, among others.
But among these projects, Lim said, the Chinese delegation already committed to conduct a feasibility study (FS) for the Expressway project within this year. The Philippine government strongly supports the plan.
Last March, Finance Secretary Carlos Dominguez III and China Commerce Vice Minister Fu Ziying, who is also China's International Trade Representative, agreed on the conduct of preliminary FS for the proposed Davao City Expressway and the Panay-Guimaras-Negros Island Bridges Project.
The Expressway project is 23.3-km long that will be constructed above ground. It will be implemented in three phases.
Davao City Planning and Development head Ivan Cortez, in an earlier interview said initially, the first phase will cover Carlos P. Garcia National Highway, Ma-a, Talomo, and Sta. Ana Pier; second phase will include Carlos P. Garcia National Highway, Maa, Talomo, Panacan; and third phase, Carlos P. Garcia National Highway, Maa, Talomo, Bangkal.
The infrastructure project will decongest traffic within Davao City by connecting its port to the outer part of the city.
"The mission was a commitment made by Yang last March during his visit here," Lim said.
She added that President Rodrigo Duterte is scheduled to attend a big summit in China within this month. The summit, initiated by China, she said, is about the "One Belt, One Road" initiative of the giant country.
"Hopefully some offers would be mentioned or discussed when President Duterte attends the summit in China," she said.
