President Benigno Aquino, lll. AP file photo
MANILA, Philippines—President Benigno Aquino arrived in Manila early Saturday evening from China, trumpeting nearly $13 billion worth of actual and planned Chinese investments in the Philippines.
Aquino said he had 36 meetings with Chinese businessmen that resulted in pledges of $1.282 billion in new investments, $3.8 billion in “almost certain” investments, and another $7.9 billion worth of possible investments from corporations that showed interest in the country.
The President and his delegation, which included many of the Philippines’ leading businessman, touched down at around 6:40 p.m. at the Ninoy Aquino International Airport.
“We succeeded in putting across the message we want to bring: the door of the Philippines is open to investments from China,”.Aquino said in a speech at the Naia Terminal II.
“With our economic managers, we showed them the business opportunities in the Philippines. In agriculture, infrastructure, energy, tourism, the two governments saw the good results of Chinese continuing to look for investment opportunities,” he added.