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The Philippines still looks as a good country to invest in, and proof of these is that three big Chinese companies who are engaged in shipping and ship repair, beverage and real estate developments, are seriously considering going the country for their next investment destination.

Trade and Industry Undersecretary and Board of Investments managing head Elmer C. Hernandez was in China recently for an investments mission and had discussions with the CEOs of different Chinese business conglomerates. Hernandez identified the companies who replied positively to his invitations as Hangzhou Wahaha Group Ltd., Chipolbrok and Shanghai Hodoor Real Estate Development Co., Ltd.

The Wahaha Group, according to Hernandez, is looking to forge a joint venture with a Filipino group or company for a fruit juice processing plant in the Philippines. They would be utilizing the local fruits for puree and juice production for re-exports to China. “They want to produce fruit purees and juices here because they are running out of fruits in China” Hernandez said. He added that they (BOI) are helping the Wahaha Group find a local partner.

The Wahaha Group, whose name signifies “laughing child” originated as a sales department of the Shangcheng District School in Hangzhou in 1987. In 1989 the company “Hangzhou Wahaha Nutritional Foods Factory” was created specifically to tap a niche market which is the “children’s liquid nutrient.”

With its headquarter located in Hangzhou, Zhengjian province, Wahaha has roughly 70 subsidiary companies and 40 manufacturing centers all over China, and the company employs approximately 20,000 workers. Wahaha is 46% owned by Shangcheng District Government.

Meanwhile, the Shanghai Hodoor Real Estate Development Co., Ltd., is interested in putting up hotel and tourist accommodation facilities in the Philippines. Shanghai Hodoor is one of China’s major property developers.