China National Heavy Machinery Corp. (CHMC), one of the leading construction engineering companies in China, has tapped local investment house First Metro Investments Corp. to help it look for opportunities in the Philippine infrastructure space.
CHMC is keen on power, transportation, water supply and sewage, metallurgy, and cement sectors, First Metro said in a statement.
Represented by CHMC president Xiao Ping, the Chinese firm signed an agreement with First Metro president Rabboni Francis Arjonillo mandating the latter to be its exclusive consultant in the Philippines.
First Metro will provide advisory services in relation to project developers, potential partners and other relevant information that can assist CHMC in its business development activities in the country.
The local investment house is expected to create linkage with local government authorities to get infrastructure plan and policy and render general advice regarding local business landscape, laws, commercial issues and regulations. It is also expected to provide assistance in referring technical specialists and advisors on legal, taxation, insurance, accounting, regulatory and strategic matters concerning the projects chosen by CHMC.
This is in line with First Metro’s thrust to create business partnerships, spearheaded by its newly established international desk.
“We see a lot of potential projects where we can work together and bring about the innovation and development needed in boosting our country’s growth,” said First Metro international desk head Charles Ian Salvador.
The international desk was set up to spot opportunities, forge alliances, and create business linkages with other countries, with the support of its parent bank, Metropolitan Bank & Trust Co.
The Duterte administration has rekindled diplomatic ties with China as it pursues a plan to lead the Philippines to the “golden age of infrastructure.”—DORIS DUMLAO-ABADILLA