On November 16th, a delegation led by MCC President and MCC International Group Chairman Zhang Mengxing visited the Philippines and paid an official call to Philippines Transportation Minister Arthur Tugade. Both sides carried out deep communication on MCC's participation in the infrastructure field construction of the Philippines, and reached an agreement.
At the meeting, Zhang Mengxing introduced the basic information of the MCC Group, pointing out that MCC is a huge-scale multi-field transnational enterprise and group, a central enterprise taking general engineering contracting, real estate development, equipment manufacturing and resource development as its main businesses, and the largest global service provider of metallurgical engineering, design, construction and operation, accounting for a 60% market share of the global metallurgy market. In 2016, MCC ranked 290th in the Fortune 500 Enterprises and 8th in the Global Contractor Top 500 released by ENR, and it is listed in both Shanghai and Hong Kong. MCC is currently strongly developing its overseas businesses in 49 countries all over the world, including nearly all the countries of Southeast Asia. The only market it has not yet entered is that of the Philippines. MCC has decided to set up a company in the Philippines to develop such fields as infrastructure and the investment and construction of industrial parks. President Duterte carried out a wide range of meetings during his visit to China in October. MCC was deeply inspired, and is very willing to take part in the forthcoming construction process of the Philippines, pledging to earnestly complete every project in the Philippines as a responsible enterprise.
Philippines Transportation Minister Mr. Arthur Tugade extended a warm welcome to the delegation led by Zhang Mengxing, and he mentioned how pleased he was to meet Zhang Mengxing and have a chance to learn about MCC. Minister Tugade gave his high affirmation to the strength of the Group, then pointed that Sino-Philippines relations have heated up rapidly following President Duterte's visit to China. It is now a 'golden period' for China's enterprises to participate in the infrastructure construction of the Philippines. In 2017, the Philippines' infrastructure investment budget is 800 billion Peso, and its total infrastructure investment budget for the next five years is 8,000 billion Peso. The investment of the former government of the Philippines into infrastructure accounted for 1.5-2.9% of the GDP. In 2017, President Duterte plans to invest 5.3% of the GDP into infrastructure construction, and promote that percentage to 7% during his term of office. MCC can depend on this chance to seek proper projects and confirm its positioning in the Philippines market. Minister Tugade explained that the Clark Special Economic Zone is an economic zone prioritized by the Philippines Government for development. The special zone has an extremely good geographical location and favourable revenue policy, making it an ideal target for investment and construction. He welcomes MCC to develop the market in the Clark Special Economic Zone.
Before paying an official call to Minister Tugade, the delegation led by Zhang Mengxing went to the Embassy of China in the Philippines to meet Ambassador's Commission Agent and Political Counselor Ms. He Xiangqi. Both sides conducted a cordial and friendly discussion and exchanged opinions on matters surrounding MCC's development of the Philippines market. Zhang Mengxing introduced MCC's business scope, technical strength, market ranking and so on, as well as the Group's work plan for establishing a company to develop the Philippines market. Commission Agent He Xiangqi welcomed the delegation led by Chairman Zhang Mengxing and gave her full approval of MCC's strength. She then pointed out that Sino-Philippines relations have greatly improved since the new President came into power. There will be broad cooperation prospects and huge potential for minerals projects, real estate development, infrastructure construction and so on. The Embassy will spare no efforts to complete the coordination in various aspects, and help China's enterprises accelerate the development of the Philippines. She also reminded MCC that China-invested enterprises should strictly obey the local laws and regulations, standardize their operations, strictly control legal risks and build a good corporate image in the process of investing and developing projects in the Philippines.
The delegation led by Zhang Mengxing also visited the project site of Clark Fontana Leisure Parks to conduct an investigation.
The meeting was attended by President Lin Yingle, Vice President Zhang Yuan, MCC Chairman Zhang Jinxian, Deputy General Manager Yin Xin, MCC International Group Deputy General Manager Gu Yuxiang, MCC Philippines Representative Office General Representative Liu Song and others.
President Zhang Mengxing meets Philippines Traffic Minister Arthur Tugade
President Zhang Mengxing meets Commission Agent of Chinese Ambassador to Philippines and Political Counselor He Xiangqi
