Chinese carmaker may invest $1 bln in Philippines
A Chinese car manufacturer is considering investing $1 billion in an assembly plant in the country, the Philippine Star reported on its Web site Wednesday, citing Francis Chua, special envoy for Chinese investment and trade.
"We are already in serious negotiations with the manufacturer. They have expressed genuine interest in putting money here," Chua told the newspaper in an interview.
The slowdown in the global economy hasn't damped the investment behavior of the firm, the Web site reported Chua as saying, and the investment is being seriously considered in spite of moves by car manufacturers to lower sales expectations as a result of the slowdown in world demand.
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