By Antonio Colina IV
DAVAO CITY – A fruit company based in Chongqing, People’s Republic of China plans to infuse an investment worth P1 billion in Davao City, according to Matias Regis, technical adviser for Special Concerns of the Davao City Investment and Promotions Center (DCIPC).
Regis said that the partnership agreement with Chinese firm Hongjiu Fruit was signed by City Vice Mayor Sebastian Duterte during his visit three-day visit to China from November 17 to 20.
He said the Chinese firm had been in the thick of discussion with a local partner the past few months for its possible entry into Davao City, which will generate “thousands of jobs and benefits for local fruit farmers.”
Aside from Hongjiu, another company Panpan Foods, expressed similar interests and was reported to be planning to expand operation in Davao.
During this three-day mission, the vice mayor also signed the memorandum of understanding that would lead to the eventual signing of a sister city pact with Chongqing, a city located in southwest China that is also known as a manufacturing hub for electronic gadgets, according to Regis.
“The MOU states both cities’ intention of signing the sister city pact and that both parties will work towards the establishment and signing of the agreement,” he added.
He said the sisterhood agreement will highlight cooperation areas in “trade, commerce, investment, and tourism.”