Friday, October 18, 2013

Aquino to Korean businessmen: Invest in PHL and join the ‘rising tide’ October 18, 2013

From the Website of the President


Aquino to Korean businessmen: Invest in PHL and join the ‘rising tide’ October 18, 2013
MANILA — President Benigno Aquino III has enticed Korean investors to join the “rising tide” in the country and take part in the unprecedented economic growth that the Philippines is enjoying.

In a speech delivered at a luncheon with the Korean business community Friday, Aquino boasted of the Philippines as an investment haven — from being called the Sick Man of Asia, to being referred to as the New Asian Tiger, or as Asia’s Bright Spot.

“There is a rising tide in the Philippines, fueled by a growing segment of the population that has the skills to drive businesses, and the spending power to spur profits. Today, we invite you to ride this wave: To invest in the Philippines and become part of our country’s continued success,” Aquino told Korean businessmen, as he highlighted the administration’s sound economic management.

Aquino cited the cases of successful Korean businesses that set up shop in the Philippines, particularly Hanjin Heavy Industries and the SKY-KR Consortium — who helped build the Laguindingan Airport, or Posco Engineering and the Korean Transport Institute, and Diosdado Macapagal International Airport.

“These companies have found success in the Philippines, and can truly say that it’s not just more fun in the Philippines; it is also more profitable. We thank them for their trust and confidence in our country and in our people; and we invite all of you to follow in their footsteps,” Aquino said.

Aquino said these Korean companies can tell how “industrious, talented, and creative” the Filipino workforce is who he noted is one of the major reasons why the Philippines has become the fifth largest shipbuilding country in the world.

Apart from power, shipbuilding, and tourism, there are several sectors ripe for your investments, most prominently in automotive parts manufacturing, infrastructure, electronics, food, agriculture, and the IT-BPM sectors.

He also assured them that the reforms will continue even after his presidency ends in 2016.
“Our country is now benefiting from the new face of government: One that puts the Filipino front and center in its agenda. We are looking for partners to sustain our momentum, and invite all of you to join us as we pursue further growth,” he said.

Aquino is in South Korea for a two-day state visit. (PNA)

Office of the President Website






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