Chinoys bullish in investing in Philippines

Filipino-Chinese (Chinoy's) are still bullish in investing in the Philippines despite the travel ban the Chinese government has imposed to the country.
Ryan Ang, local spokesperson of the CityMall Commercial Centers Incorporated (CMCCI), said in a press conference here Thursday that the company is investing P500 million for the new investment. It hopes to employ around 1,000 new jobseekers.
The CMCCI is being partnered by Chinoys namely Egar 'Injap' Sia of Double Dragon and Tony Tan Caktiong, founder of Jolibee Food Corporation.
"The company is actually planning to invest around 100 citymalls around the country by year 2025," said Ang.
The citymalls features environmental awareness on the mall, business center, hotel and transport terminal. It will be using 50 percent solar generated power and 30 percent rainwater .
"Already, we are accepting local businessmen to take advantage of our available stalls for the mall," said Ang who expects it to open by 2015.
He added that the incorporation has chosen Kalibo as one of their areas of operation because of the growing demand of the tourism industry brought by Boracay Island.
"We are envisioning ourselves to be one of the top four malls in the country in the years to come," Ang said.