Chinese firm on plans to use local materials, workers too
Bacolod City – After the momentous signing of the two memoranda for the plans of Chinese investors to build not just one but two ethanol plants in this province, good news doesn’t stop pouring when these Chinese investors are firm to use local materials as well as tap local workers to do the project.
5th District Representative Ignacio Arroyo Jr. who was also present during the signing of the MOA confirmed this in a press statement.
The solon further said that China CAMC Engineering Limited and B.M. SB Integrated Biofuels Company and Negros Southern Integrated Biofuels Company is set to sign the final contract by the end of this year in time for the expected signing of the Bioethanol Bill by Congress and the Office of the President.
President Gloria Macapagal Arroyo who personally witnessed the signing as part of her state visit in China said that the Southeast Asian nations are looking to China to reduce their trade dependency on Western markets. She also directed the Philippine delegation to strengthen the trade relations between the two countries.
China and the Association of Southeast Asian Nations agreed in reaffirming their goal to create a free-trade zone by 2010, Arroyo emphasized the benefits for Southeast Asia of their fast-expanding relationship.
"The ASEAN region represents a market of over half a billion people for Chinese exports. It is a supplier of much-needed resources," said President Arroyo, who is the chair of the 10-nation Southeast Asian grouping.
(PIA/EAD)