China Ocean Shipping Co. (Cosco), one of the world’s biggest ship operators, is eyeing the Philippines as a regional hub, Malacañang’s special envoy on trade and investments said.
Francis Chua, who is also honorary president of the Federation of Filipino-Chinese Chambers of Commerce and Industry, said top Cosco officials are flying in from Beijing next month to finalize their plans.
Chua however said the shipping company is also considering Hong Kong, Malaysia, Singapore and Thailand for its hub project. Chua said this shipping hub will serve as depot for various products traded in Asia. “They are actually very serious to locate in the Philippines, [which] is a very strategic location,” he said.
Cosco officials said they are targeting a 500 to 100-hectare area and are choosing among Manila, Batangas and Subic, Chua said.
“We told them that the Philippine government is willing to add some sweeteners on this huge investment, so that we could really win this,” he added.
Francis Chua, who is also honorary president of the Federation of Filipino-Chinese Chambers of Commerce and Industry, said top Cosco officials are flying in from Beijing next month to finalize their plans.
Chua however said the shipping company is also considering Hong Kong, Malaysia, Singapore and Thailand for its hub project. Chua said this shipping hub will serve as depot for various products traded in Asia. “They are actually very serious to locate in the Philippines, [which] is a very strategic location,” he said.
Cosco officials said they are targeting a 500 to 100-hectare area and are choosing among Manila, Batangas and Subic, Chua said.
“We told them that the Philippine government is willing to add some sweeteners on this huge investment, so that we could really win this,” he added.