$4-Billion Investment to the PI by the Japanese

After Texas Instruments investing $1-Billion in the Philippines, here comes the Japanese investing $4-Billion into the Philippines   

Arroyo: RP economic turnaround, political stability to stay
By Lira Dalangin-Fernandez
INQUIRER.net
Last updated 06:13pm (Mla time) 05/22/2007

MANILA, Philippines — Buoyed by the results of the election, President Gloria Macapagal-Arroyo has said that political stability and economic turnaround were here to stay and rallied all political parties to work with her administration.

Eight days after the election, Arroyo left for Japan in her first foreign trip to attend the 13th Nikkei Conference and meet with investors.

Arroyo left at 2:40 p.m. via Philippine Airlines flight PR432 for Narita.

"On this trip to Japan, we will be meeting with business and financial leaders from around the region to again tell the Philippine story and encourage them that the Philippine turnaround is here to stay. That our politics have stabilities and that we are the best value in Asia," she said in a departure statement issued by her spokesman Ignacio Bunye.

"Philippine democracy has been renewed after a vigorous by-election, Now it is time to come together to forge a common path forward together among all parties and all political leaders here at home," she said.

Foreign relations play a vital role in the vision towards a modern Philippines, she said.

"Our trip to Japan is another step in our quest to further cement our ties and bring more investments, economic growth and peace and stability to our nation," she said.

After the billion-dollar investment of Texas Instruments in the country, Arroyo said Tokyo Electric and Marubeni were also making a $4-billion dollar investment, the largest Japanese investment in Philippine history.

 

"Their investment in the Philippines is no mistake: the world is sitting up and taking notice that the Philippines is back and open for business. Our economy and gains against poverty are proof the plan is working," Arroyo said.

"Japan plays a pivotal role in bringing peace, stability and economic opportunity to the conflict in Mindanao," she added.

In her meeting with Prime Minister Shinzo Abe Arroyo said she would raise the issue of the peace process in Mindanao and thank Japan for its role.

Japan has a representative in the international monitoring team overseeing the implementation of the ceasefire agreement between the government and the Moro Islamic Liberation Front in Mindanao.

"No trip abroad to meet with foreign leaders is complete without continuing vigilance in the pursuit of regional security, stability and peace. The ongoing concerns about North Korea's nuclear capability and the existing danger of global terrorism remain front and center," Arroyo said.

"Finally, we want to send a clear message to our Japanese friends and hosts that relations between the Philippines and Japan have never been stronger. We hope we make advances on closer economic ties and continue to build on the warm ties that bind our relations with Japan not just in the Philippines but in the ASEAN region and the world," Arroyo said.

Source: Inquirer