Philippines intends to introduce foreign investors to build a new steel plant

    Philippine Economic Development Agency officials disclosed recently that the Philippines is actively inviting investors, including China, South Korea and Taiwan, to invest in a new steel plant in the Philippines, the Philippine Star reported on January 15.

    The government of Duterte has been devoted to revitalizing the steel industry in support of its planning for the "Dajian Special Construction Project." The Economic Development and Development Department has been actively implementing this idea. In addition to introducing a new steel plant, the UDD will also consider rebuilding National Steel at Iligan.

    The current high debt of the plant, there are also many tax issues, after the operation by the Indian investors to maintain. Many foreign investors, including former Indian investors, are also interested in rebuilding national steel mills. The Economic Development and Development Agency will actively create a good debt environment for investors, including converting the original claims of national steel mills into equities, etc.