• Aquino back with a multi million dollar ‘surprise’

    6

    PRESIDENT Benigno Aquino 3rd on Monday arrived from his three-day state visit to Canada and a working visit to Chicago in the United States that he described as a huge success, taking home with him a “surprise” deal that would earn the government billions over time.

    In Canada, the President signed the Philippines-Canada Mutual Accountability Framework, which will pour in some 80 million Canadian dollars in investments in the country.

    The President also signed a Memorandum of Understanding on occupational safety and health, and another MOU on human resource deployment and development in the Canadian province of British Columbia.

    “The rationale of this agreement is simple, to safeguard the welfare and interests of our compatriots who are working or are interested in working in Canada.

    “We are also looking forward to the start of exploratory discussions on the possibility of having a free trade agreement with Canada. Once this gets going, I’m sure our trade relations will flourish which will result in more jobs and opportunities for Filipinos,” he said in his arrival speech which he delivered in Filipino.

    In Chicago, Aquino met with members of the US Chamber of Commerce, US-Association of Southeast Asian Nations (Asean) Business Council and National Center for APEC (Asia Pacific Economic Cooperation (Apec) where many businessmen expressed readiness to expand trade in the Philippines.

    He said private companies from both countries were interested in investing in Philippine business, tourism and agricultural sectors..

    The President added that he had a meeting with the leader of a big business enterprise who promised to pump more dollars into the Philippine economy. Aquino did not name the businessmen but hinted that it is an existing firm in the country that is worth P1.3 billion.

    “We have a saying: Save the best for last. In our last business meeting in Vancouver, we met the leader of a big business venture. We’ll not yet name the company so as not to jeopardize plans, but what’s important is we now have a $20 million or P1.3 billion in investment commitment from that company which plans to put up a waste-to-energy facility which is expected to be finished this year,” he said.

    Once completed, the President claimed the government stands to earn P8.5 billion from the investment over 30 years.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    6 Comments

    1. At age 42 siguro medyo naive reply ko dito. Para sa akin… wait and see na lang muna. I know maraming palpak na ang nagawa pero I think it is still better to hope for the best (for the meantime at least), but prepare for the worse. Mahirap kasi mawalan ng hope. Mahirap if every time na may balita for a possible good ay sasalubungin agad natin ng negativity. Let us hope…for now. Baka sakali naman… Although mahirap minsan(o madalas) umasa sa mga sinasabi nila, definitely di mahirap umasa sa tulong ni Lord. Baka sakali nagawan na ng milagro ng Dyos hehe. Peace mga kababayan!

    2. the problem is when the Canadian investors come and see the sub standard infrastructures, power outages, traffic nightmare, high crime, and terrorism in the country side, corruption etc. they will surely change their mind or lower down their investment plans. what is the point of inviting investors when the infrastructures are sub standard, its a waste of time. we need first build a credible infrastructures and maintain it not just a show, to convince investors to come in otherwise they will go elsewhere in ASEAN like Vietnam, Cambodia and Myanmar just to name a few.

    3. Same old promises everytime PNoy returns back to Philippines.

      Some did materialized, but with something worse in return.

    4. Knowing who PNoy is, let us take his statements as a grain of salt. The man is so good in dramatizing all his boast which we will find out later, are simply boladas. As an Asperger Syndrome victim, he makes small things appear so big.

    5. importing canadian trash and exporting filipino labor.!
      interesting exchange rate!

    6. The Aquilini Group will be investing more money into a waste recycling and energy conversion facility in Cebu that will open later in 2015.