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PNoy brought home $2.4-billion investment to create more jobs for Filipinos

By on Sep 29, 2010 in World Comments

President Noynoy Aquino or PNoy, is now back home with a ‘pasalubong’ of $2.4-billion investment to create more jobs for Filipinos, as reported in GMA News.

Pnoy arrived at the Ninoy Aquino International Airport (NAIA) on Tuesday around 3 am, after a US visit and attended the 65th UN General Assembly in New York.

“It’s good to be home,” told by Aquino. “In the last week during our visit to the United States, we were able to send our message across: the Philippines is open for business.”

“We were able to secure a commitment of at least 43,650 new jobs in the next three years, including some 4,500 in construction related jobs. And because of the multiplier effect, we estimate 200,000 more jobs to benefit our countrymen.” The president said.

PNoy was also proud to share that US-based power firm AES Corporation will have a project of $1 billion in the country, to expand the capacity of its Masinloc coal-fired power plant by up to 660 megawatts.

The said project will create 1,500 jobs for its construction which may last three to four years, while more jobs will be created for its plant operations, President Aquino said.

In addition, PNoy also reported that Coca-Cola will also invest $1 billion in the Philippines for the “upgrading and replacement of equipment and creation of new products and processes.”

Meanwhile, the president also met other companies which were expected to invest a collective total of $400 million.

These companies include Pfizer, Hewlett-Packard (HP), JPMorgan Chase, and General Electric (GE).



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