Foreign
companies continue to show interest in investing or expanding in the
Philippines as a result of reforms being initiated by the Philippine
government, President Benigno S. Aquino III said.
President
Aquino said many business groups he met in Singapore were excited about the
transformations in the Philippines that encourage them to invest in the
country.
The
groups he met include the Singapore Business Federation and the respective
chambers of commerce of Europe, Great Britain, the United States, Japan, and
India, as well as the Europe-ASEAN Business Alliance, International Enterprise
Singapore, and Philippines-Singapore Business Council.
Keppel
Offshore and Marine Ltd., which is engaged in shipbuilding, wants to put more
money in the Philippines, the President said.
The
Singapore Airlines Engineering Company (SIAEC), with business interests in
aircraft maintenance, repair, and overhaul, also wants to expand its presence
in the Philippines, he noted.
The
company started operating in the Philippines in 2005, and infused $25 million
in 2009 to expand its operations.
According
to the Chief Executive, SIAEC is in the
process of completing its third hangar in the Philippines, worth about $21
million, and is planning to build two more hangars next year.
“Bukod
sa maghahatid ang mga ito ng dagdag na empleyo, pinapatunayan nito na talagang
world class ang manggagawang Pilipino. Ang pagpapatakbo nga sa ganitong mga
pasilidad ay nangangailangan ng natatanging technical expertise para sa
malalaking eroplano, at sa susunod na taon ay kasama na ang
Airbus
330 at Boeing 777 sa maseserbisyuhan ng SIAEC sa ating bansa,” he said.
The
President said he will task the Department of Labor and Employment (DOLE),
Commission on Higher Education (CHED), and the Technical Education and Skills
Development Authority (TESDA) to coordinate with SIAEC to ensure that Filipinos
could seize the opportunity to work with the Singaporean company in this field.
President
Aquino further reported on his meeting on Wednesday with the two biggest
investment fund groups in Singapore -- Temasek and the Government Investment
Corporation (GIC).
Temasek
has interests in different industries in the Philippines and it is expected to
increase its $1 billion investment at the soonest possible time, while GIC has
infused P17.6 billion in the Filipino company, Emperador Inc., he said. (PCOO
News Release)
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