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DTI FACILITATES MOU SIGNING BETWEEN TOON CITY AND SENECA COLLEGE
On the Forum on Trade & Investment Opportunities in the Philippines, co-organized by the Trade Office, Philippine Consulate General-Toronto and the Canadian Chamber of Commerce of the Philippines held on October 23, 2017, at the Ontario Investment and Trade Centre, the Memorandum of Understanding (MOU) between Toon City Academy and Seneca College was signed. The MOU confirms the cooperation between the two institutions which seeks to widen the career opportunities of animators and create possibilities for professional exchange of staff expertise. In photo: (Seated, L-R) Mr. David Agnew, President, Seneca College, Toronto, Ontario, Canada and Mr. Rene de Guzman, VP, Resources Development, Tooncity Academy, Philippines. Witnessing the signing are: (Standing, L-R) Undersecretary for Trade and Investment Promotion Group, Ms. Nora K. Terrado, Department of Trade and Industry, Philippines and The Honourable Minister Michael Chan, Ministry of International Trade,... read moreForeign investors remain confident on PH as investment destination
The Philippines (PH) under the Duterte Administration continues to enjoy the confidence of foreign direct investors with the Department of Trade and Industry (DTI), through the Board of Investments (BOI), welcoming the investment intentions of Chinese firms Huili Investment Fund Management Co., Ltd. and Yi Ding Tai International Corporation. The investments, focusing on iron and steel manufacturing and shipbuilding, are worth USD 4.5 billion with 8,000 employment opportunities. “This is one of several investment proposals we have received on the steel industry that will allow us pursue President Duterte’s vision of having a globally competitive iron and steel industry, to support the growing economy, to alleviate poverty, and to create jobs for every Filipino,” said DTI Secretary Ramon Lopez. A private equity firm based in Beijing, China, Huili Fund expressed its intention to partner with PH and private sector entities through a letter of intent signed earlier this year and endorsed by China’s Ministry of Commerce. The company plans to implement a two-phased project of a world-class integrated steel manufacturing facility that will employ 6,000 people by 2022. In a recent courtesy call on Sec. Lopez on 5 October, Huili Investment Fund Management Co., Ltd. Chairman Dr. Meng Xiaosu presented the plan for the facility where the first phase will include production of billets, long, and flat products. The chain will be completed on the second phase through iron ore. Currently, a feasibility study is being conducted that includes the possible location to set up the facility, where the availability of port and low electricity cost are considered. “Producing the steel here... read more