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PIA Press Release
2009/06/02

PGMA: RP is best value for investment in Asia

Seoul, South Korea (2 June) -- The Philippines is the "Best Value for Investment" in Asia, President Gloria Macapagal Arroyo said on Monday.

"We are among the Best Values for Investment in the Region in areas like mining, energy, bio-fuels, technology, tourism and business process outsourcing," the President told Korean media.

These investment opportunities, the President said, are complemented by a "stable environment, English-speaking, hardworking, and proficient workforce and very investment-friendly government which provides fiscal and non-fiscal incentives for investments."

The President also mentioned Korean businesses such as Hanjin Heavy Industries, Inc. (ship building) and Samsung (distribution logistics center) that have invested in the country.

The Philippine News Agency reported that two Korean electric companies have pledged to invest 200-million dollars in wind power projects in the Philippines.

Korea East West Power Co., Ltd. (EWP) is planning to invest 50 million dollars in Alternergy Philippine Holdings Corporation's wind power projects.

Another Korean firm, Export/Import Bank of Korea (KEXIM), is willing to finance the same wind power projects. (PIA-MMIO) [top]

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