this is going to be sorted in one foul swoop all plans will be drawn up in Chinese problem solved, Chinese are experts at this sort of stuff will have groups that work 24/7. they will set up there own little communes and will not mix with the locals as they won't have a word of English between them (that is the ones at the end of the shovel and hammers) Chinese liquor and cigarettes will be brought in and they will be paid in RMB and most of if not all the materials will be shipped in the only people who will make money from this will be the poly tichians and the Chinese of course and unless its ran by others, other than filipinos on completion it won't last long and the sea will just reclaim it

 

Anyone doing business with the PRC needs to think long and hard if that business is really going to benefit them or the Chinese. They want to build a playground to bring in income for themselves not the hosting country. Too many of Negros' natural resources will be destroyed and local workers will not be employed beyond the construction phase if even for that. The PI has a lot to lose once the PRC gets their foothold on them. This is an invader you can see coming. Get it together and rise up Kuya!

 

Tell the Taliban as the PRC sure as Hell is going in to Afghanistan in a big way.

 

The mayor's timeline is 2 years getting the permits and authorizations and 3 years construction as he stated in last Fridays meeting with stakeholders.

shakey

 

Previously the SEC would only allow a foreign investor to own 10% of the enterprise he was investing in even though he/she was providing 100% of the funds.

President Duterte hoping to boost the Covid economy invited foreign investment directing the SEC to allow 50% ownership.

This Smart City investor will have 49% ownership and the City of Dumaguete 51%. Under rules of accountancy rents,permits or tolls and profits/losses liability would be split.

The City Hall would not move as previously announced but will be replaced by a new building close to the Smart City. The elementary school on the City Hall grounds would be moved to be replaced with a museum.

All of this was discussed at Mayor Remollo's Friday stakeholders meeting.

shakey

 

Actually, previously a foreign investor can hold 40% ownership in a corporation that owns land in the Philippines. A foreign investor can hold 100% of the buildings and businesses if the business complies with the minimum investment on the negative list.

For example if a foreign investor wanted to compete with Lee Plaza they would have to invest 2.5 M USD. Then they could own the business the building the lease of the land and 40% ownership of the sub-corporation that owns the land.

A lot of the rules about land ownership are in the constitution and cannot be readily changed by Duterte.

 

According to Mayor Remollo, Filipinos will be able to work in the building and in the stores as long as they can operate a calculator for hagglers just like shopping in Chinatowns everywhere. The high-end stores will have Asian, American and European recognizable names for quality extracting the best prices. The workers and guards will be Filipino. Local businesses will provide the goods and services needed by Smart City residents and businesses.

Sewage has always been a problem because all septic tanks overflow into canals, rivers and streams to be dumped into the bay. Smart City will have 2 dedicated sewage treatment plants to treat all their effluent.

To build the smart City islands, all rock, sand and cement will be Filipino. The floating cranes and floating pile drivers will be provided by Filipino companies and workers.

The present Dumaguete/Sibulan airport will be jammed with business jets and heavy lift helicopters all owned and operated by Filipino companies.

The berth space at the port is limited so ships will line the coast awaiting their turn to berth at the port.

World class contractors that can build a 34 story hotel and a 1000 bed hospital in a week don't route their materials through middle men like here. Spec materials will arrive here on time and locals will lay it out under supervision.