Foreign investor confidence in RP remains high -– P-Noy

August 27, 2010 10:58 am 

MANILA, Aug. 26 — Foreign investor confidence in the Philippines remains at an all-time high despite the bungled rescue attempt of Hong Kong tourists held hostage by a disgruntled former Manila policeman, President Benigno S. Aquino III said on Thursday.

In his speech keynoting the groundbreaking ceremonies for the construction of the Rizal Technological University’s Teacher Education and Law Center Building in Mandaluyong City, President Aquino said officials of a multi-national bank based in the United States have already signified their intent to invest in the country.

The President said his forthcoming trip to the U.S. would solidify the prospective investor’s plans which, he noted, would generate jobs for the Filipino people.

“By the end of September, we will be going to America and upon our return, I believe that we will be bringing gifts for the Filipino people in the form of additional jobs,” the President said.

He said Deutsche Bank officials met with him in Malacañang after the Quirino Grandstand hostage-taking incident to express their collective confidence on the country as an investment venue.

“I met with bank officials in Malacañang a day after the Luneta Grandstand hostage-taking incident and they told me that what we are going through right now is only temporary,” the President said.

“Our confidence in the Philippines is still complete, in fact we plan to increase our exposure here over three times because we believe that the Philippines is on the path to progress,” the President quoted the bank officials as saying.

The President said that with the increase in investments, the country’s economy would also grow and with a growing economy, the search of funding sources to bankroll various infrastructure projects would become easier.

He cited the RTU’s dream of finishing the construction of its Teacher Education and Law Center Building and other buildings of learning would certainly be within reach because funds would be readily available to finish construction of such.

“The building that we are going to build will help nurture talent that we need to generate jobs and opportunities,” the President said.

“If jobs are generated, our economy will expand, while our economy is expanding, the state will have the capability to address the needs of the people,” he added.

In closing, the President called on all Filipinos: “If we help each other, if we focus on our responsibility to others, nothing can impede the growth of the Filipino people.” (PNA) scs/OPS/ssc

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