• Aquino sees $2.3-billion investments from Europe

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    President Benigno Aquino 3rd said his trip to Europe has been successful partly because of the additional investment inflows to the Philippines.

    In a briefing with Filipino journalists in Berlin, Germany, which was aired over state radio station Radio ng Bayan on Saturday, Aquino said he and other members of his delegation met with representatives of 19 European companies who expressed interest in investing in the Philippines.

    He said the country can expect some $2.3 billion in investments in manufacturing, energy, information technology, infrastructure and transportation sectors.

    Of this figure, some $908 million worth of investment have been committed while prospective investments amounts to about $1.47 billion, he said.

    Aquino said these investments are seen to provide job opportunities to some 55,500 Filipinos.

    The President noted that European investors now understand why the Philippines had to bring it territorial dispute with China before the United Nations.

    In March this year, the Philippine government submitted a 4,000-page memorial before the United Nations Convention on the Law of the Sea arbitral tribunal to explain its side and ownership on some islands in the West Philippine Sea (South China Sea).

    China is claiming several islands in the WPS, even those within the Philippines exclusive economic zone based on its nine-dash-line policy.

    PNA

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    8 Comments

    1. Thailand, which is stagnating under military rule, had $6.77 billion in foreign investments — as in, actual money that showed up in the country and changed hands, and not “commitments” or “expressions of interest” — in the first six months of this year.

      Just saying.

      • rommell madronio on

        yes because Thailand has already established itself as one of the most stable manufacturing sites in the region. The Philippines, on the other hand, due to political instability in the recent past, must provide proof to foreign investors that its current economic stride is for good and would further be advanced from hereon.

    2. Mr Clean is fond and in the habit of giving speech and story telling a lie
      about his myth of achievments like giving ALAMAT where in, he
      is always the bida and before ending his story blaming his past predecessor/s
      about his failure to perform in the last 4 years plus. He is also fond of giving
      false hope to his boss on the results of his trips. For example, that< "we don't
      know who whispered to his ear" Phil. peso will soon be like a dollar, yen,
      sterling pound, that under his remaining term it will become a global currency
      worthy to be accepted in global transactions, wow what a worthy achievement
      for him. Again, as in his past trip abroad, he is claiming that businessmen from
      europe will bring in huge investments (.$2.3billion). This is because european
      government and businessmen believed in his reforms on anti-corruption,
      economics and infrastructure emplacement because of the use of DAP.
      Ang galing talaga ni mr P'noy ibig sabihing hindi nasayang ang pera at ang
      kauubo niya dahil daw sa "Kulam at hindi sa YOSI", habang binobola ang mga
      TANGA PAKINIG niya. Hindi niya binigyang pansin kahit katiting ang "its more
      fun in the Phils" i.e: tren na bukas ang pinto habang tumatakbo, at minsa kahit
      wala na sa riles tumatakbo pa rin, kilo-kilo metrong pila sa train station ng mga
      mananakay umulan at umaraw nagpapakita ng pasensiya ng mga Pilipino
      sa mga kaABNOYAN, oras, oras na sira ng tren dahil sa corruption sa
      pagholDAP ng pondo ng MRT, at kapalpakan ng MAINTENANCE provider.
      biniyayaan ng kontrata kahit walang kaalaman kahit kunti, sa pagkumpuni.
      Ang mataas ng presyo ng koryente at malaking kakulangan sa mga darating
      na taon, na hindi binigyang pansin ni mr Patilla. Ang napakagaling na
      pamumuno ni Gen. Alan de palpak de madrid PULISAMA na sa loob ng halos
      3 taon niyang pamumuno ang KAPULISAN na transform at naging KATULISAN,
      paalalahanan sana ni mr Clean yung mga negosyanteng sinasabi niya
      na…

    3. BS Aquino says his trip to the EU was successful because of committed and prospective investments. Is this spin supposed to be a joke? This trip is just a tour and I wish the BS would stop until he returns. Give us a break.

    4. On the one hand he says investors have “expressed interest” and on the other he claims $900 plus are “committed”. Even his statements to the press are inconsistent and delusional because how can it be committed investments when the supposed investors have merely expressed interest. This is nothing more than a junket for a lameduck whose days are numbered.

    5. It’s only aquino’s eyes who sees investments from EU. On the side of the guests countries sees it differently. First aquino should settle the cases filed by the Belgian and German investors. The Philippine government should pay the damage incurred by those contractors when their contract was cancelled simply because it was done by the past administration. Personal vindictiveness comes first than the benefits that these investors brought at that time to create jobs for the Filipino people. And it was aquino’s top priority.

    6. Since the Abnoy is legend when it comes to lying, we must not be inclined to believe everything he says. I bet he has been lying again. So the best thing is to follow what advantage the country has derived from this junket. For all we know, the Abnoy just wasted a lot of our hard=earned money.