- Market News
China’s Handi Group expresses interest in investing in Philippines
A Chinese firm has expressed interest in investing in a fuel facility in the Philippines, according to the Department of Trade and Industry (DTI).
Trade and Industry Secretary Ramon Lopez recently met with China’s Handi Group President Wu Hanling to discuss the possibility of the company investing in an oil refining and petrochemical plant in the Philippines. Lopez opened the discussion of putting up the facility in Mindanao, in the southern Philippines, “which will be suitable for the company’s power, land and accessibility requirements.”
“We welcome business intentions to strengthen our petrochemical industry, which the government actively supports,” Lopez said.
Based in Hainan province, the Handi Group, through its subsidiaries, which include base oil producer Hainan Handi Sunshine Petrochemical Co. Ltd. (HDS), is involved in oil refining, chemicals, trading, investment and finance.
Wu also conveyed the need of the Handi Group for Filipino engineers, while Lopez noted the availability of engineering talents in Mindanao.
“There are a lot of universities in Mindanao that produce quality graduates and professionals in the field of engineering. We have good universities in all parts of the Philippines,” Lopez said.