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PIA Press Release

RP's vast resources make it vital partner in 'Golden Triangle' growth area – Chua

XIAMEN, China (via PLDT) (28 October) -- The Philippines as a vital component of the "Golden Triangle" growth area envisioned by Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) president Francis Chua to be the next booming economic zone in the Asian region? Why not?

The proposed Golden Triangle economic zone, according to Chua, is the triumvirate of the southern Chinese province of Fujian (which includes Xiamen City), Taiwan and the Philippines.

Chua said Fujian has attracted much investments from Taiwan, especially in Xiamen which is the counterpart of Taiwan's Kaohsiung, and the Philippines' Subic and Clark special economic zones.

He added that the Philippines can play an integral role in the triangle because of its vast resources "such as gold, copper, manganese and chromite and other indigenous energy resources like geothermal and hydro-electricity power."

He noted that the Philippines also has vast supply of the "most precious resource in the whole world," referring to the country’s world-class and highly skilled (Filipino) professionals.

"The Philippines, located south of Taiwan, together with Fujian, results in three strategic areas which form a triangle from a geographic point of view," Chua said.

"In this Golden Triangle, the Philippines offers cooperation in electronics, communications and information technology, agriculture, husbandry, mining and tourism," he added.

Chua described the proposed Golden Triangle growth area as a "triangle of kinship, friendship and partnership."

President Gloria Macapagal-Arroyo, in her speech at the business conference hosted for her by the FFCCCII at the Xianglu Hotel here yesterday, said she believes the establishment of the so-called "golden triangle" economic zone linking the Philippines, Taiwan and China’s Fujian province will stimulate partnerships among the firms and harness the competitive advantages of the three economies.

"I hope to see the day when the Philippines becomes a part of the golden triangle," said the President, who arrived here yesterday for a five-day official visit to China. (PIA) [top]

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