The Board of Investments (BOI) in Manila on Thursday has revealed the Aviation Industry Corporation of China (AVIC) is looking to invest in the Philippines.
Trade Secretary and BOI Chairman Ramon Lopez welcomed the expression of interests of the Chinese businessmen saying the positive gesture is a concrete proof of the continued confidence of foreign investors in the country’s sustained strong macroeconomic fundamentals.
“Together with further building the competitiveness of our local industries and our intensive investment promotion efforts, international investors have gained greater awareness of our strong economy and the country’s competitive advantages,” Secretary Lopez said.
Trade Undersecretary for Industry Development and BOI Managing Head Ceferino Rodolfo received and noted the LOIs of Chinese firms namely Aviation Industry Corporation of China (AVIC) International Aero-development Corporation, Liaoning Bora Enterprise Group Co., Ltd., Huili Investment Fund Management Co., Ltd., Dalian Wanyang Heavy Industries Co., Ltd., and YiDingTai (YDT) International.
AVIC International Aero-development Corp., an ultra large state-owned enterprise in China, focusing on the manufacture and provision of helicopters, aircraft and aviation related products, equipment and services is exploring opportunities in industrial cooperation for aerospace parts manufacturing, aviation maintenance and training.
The company also plans to cooperate with local partners on aerospace parts manufacturing, maintenance-repair-overhaul (MRO) facilities and other industrial sectors.