Thursday, September 16, 2010

Foreign Investors Renew Interest for the Philippines

Here is an Article from Philippine Star
( Updated September 16, 2010 12:00 AM

MANILA, Philippines (Xinhua) - There is renewed interest among foreign investors in the Philippines, President Benigno Aquino III said yesterday.
"There is renewed interest among foreign businessmen to invest in the Philippines," Aquino told some 120 local business leaders and economic managers in Cebu City, central Philippines.
Aquino said that the reinvigorated confidence of the international financial community and the bullishness of businessmen on the Philippines can be attributed to his determination to get rid of corruption, propel the economic engine to prosperity, and achieve political stability.
He further said that some of the business leaders who were turned off by the corruption and uncertainty in the economy and politics over the last decade have expressed a desire to invest again in the Philippines as evidenced by the recent business trip of his economic managers in the United States.
According to Aquio, one public-private partnership (PPP) project that investors expressed interest is the construction of an expressway from Manila that will pass through Bulacan, Nueva Ecija, Nueva Vizcaya, until Cagayan Valley, which will save the government billions of pesos that can be used to fund needed social services.
Another possible PPP project is the redevelopment and upgrading of the Mactan International Airport, where a new instrument landing system will be installed in the next few months, and eight new air bridges will be bid out in order to finally retire and replace the old ones, he said.
According to the Philippine president, plans are underway for the possible liberalization of the air transport sector to make it easier for people to visit Cebu and other parts of the country.
"You can count on us to do our part," Aquino said.

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