President Aquino invites Korean businessmen to invest in PHL

source: manila bulletin
MANILA, Philippines (PNA) — President Benigno S. Aquino III is inviting Korean businessmen to invest in the Philippines through the government’s Private Public Partnership program.

The President issued the invitation to Korean National Assembly Speaker Park Hee Tae, who called on him at Malacañang on Monday.

Joining the President in welcoming Speaker Park were House Speaker Feliciano Belmonte, Deputy House Speakers Lorenzo Tañada III and Maria Isabelle Climaco, and Rep. Al Francis Bichara, who chairs the House Committee on Foreign Affairs.

Speaker Park, on the other hand, was accompanied by members of Korea’s National Assembly namely: Ko Heung Kil, Lee Kong Rae, Chang Yoon Seok, Lee Sun Hun and Park Sun Young.

Korean Ambassador to the Philippines Lee Hye Min was also present during the courtesy call.

In an interview, House Speaker Belmonte said that aside from inviting Korean investors to put up businesses in the country, the President and Park discussed ways to further strengthen relations between the two countries.

“Pinag-usapan yung relations between Korea and the Philippines (and how to strengthen) mutual help (between the two countries) in various areas,” Belmonte said.

“The President (also) discussed the PPP and invited Korean businessmen to take advantage and participate in the PPP programs particularly for infrastructure,” he added.

The PPP is a flagship development program of the Aquino administration that aims to boost infrastructure development in the country through “partnerships” with the private sector which will in turn free up vital government resources for social development programs.

source: manila bulletin