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Business

Alliance Global eyes China expansion

Iris Gonzales - The Philippine Star

MANILA, Philippines - Andrew Tan-led conglomerate Alliance Global Group Inc. (AGI) seeks to expand in China, AGI executive director Kevin Tan said.

The Tans are part of the huge business delegation of Filipino-Chinese businessmen who will be joining President Duterte’s state visit to China on Oct. 18 to 21.

The younger Tan said the group is particularly looking at expanding the distribution channel of Emperador Inc., AGI’s wholly owned liquor subsidiary.

“Emperador would like to bring its Philippine-made products and other brands to China. We are looking at expanding our distribution channels for Emperador and its other brands,” Tan said.

Emperador, now the world’s top brandy in terms of volume, is being exported to

40 countries in Asia, North America, Europe, Africa and the Middle East.

In 2015, Emperador posted a profit of P7 billion, up 12.2 percent from P6.2 billion in 2014.

Tan said the conglomerate is also looking into other business opportunities in China, particularly in the areas of tourism.

The 400-strong business delegation includes the country’s top businessmen such as taipan Lucio Tan and his son, Michael, president of the LT Group; San Miguel Corp. president and chief operating officer Ramon Ang; Francis Chua, chairman emeritus of the Philippine Chamber of Commerce and Industry and taipan Carlos Chan, chairman of Oishi maker, Liwayway Group among others.

Chinese Ambassador to the Philippines Zhao Jianhua, for his part, expressed hopes tourist arrivals from China would grow to hit one million a year by 2017 after President Duterte’s state visit to Beijing.

A million tourists can contribute $1 billion to the Philippine economy due to average shopping bill of each Chinese tourist is at least $1,000, he said at the Pandesal Forum of Kamuning Bakery Café in Quezon City.

Apart from encouraging tourism, Zhao said President Duterte’s visit is expected to boost investments, infrastructures, trade, soft loans, joint anti-drug efforts, donations of huge drug rehabilitation centers, fisheries and agriculture cooperation, people-to-people exchanges, freedom of navigation and ecology cooperation in the South China Sea.

Zhao said the Chinese government also looks forward to Philippine participation in the trans-continental “One Belt, One Road” economic blueprint and in the Beijing-based Asian Infrastructure Investment Bank (AIIB).

The “One Belt, One Road” is dubbed as the New Silk Road, which is meant to expand economic cooperation among neighbors in the region including those China is in dispute with such as the Philippines.

Essentially, the New Silk Road aims to create a massive trade loop that will link Asia, Europe and Africa through the construction of massive infrastructure such as railways and ports.

Zhao expressed hopes the Philippines can soon ratify its being one of the 57 founding members of AIIB, which includes Britain, Germany, South Korea, France and Italy.

 

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