President Aquino witnesses signing of agreements
for operations of LRT 1
PARIS, France) President Benigno S. Aquino III
on Thursday witnessed the signing of a technical service agreement between RATP
Developpement and the Light Rail Manila Consortium for the operations and
maintenance of Light Rail Transit (LRT) Line 1.
The agreement, signed between RATP Developpement
President Pierre Mongin, and Jose Ma. Lim, President and CEO of the Metro
Pacific Investments Corp., at the Philippines-France Business Forum at
Intercontinental Paris Le Grand Hotel, aims to provide operation and
maintenance service and technical advice and expertise relating to the
operations and maintenance of the Manila LRT 1 Cavite Extension, Operation and
Maintenance Project.
The Light Rail Manila Consortium also signed an
engineering, procurement and construction agreement with Bouygues Travaux
Publics and Alstom Transport on Thursday for the design and construction of the
Manila Light Rail Transit Line 1 Extension Project that will extend Line 1 by
12 kilometers to add eight more stations.
Fernando Zobel de Ayala, president and COO of
Ayala Corporation, and Transportation and Communications Secretary Joseph
Emilio Abaya were also present during the signing of the two agreements. PND
(co)
President Aquino invites French businessmen to
take part in Phl economic 'renaissance'
(PARIS, France) President Benigno S. Aquino III
invited French businessmen to explore investment opportunities in the
Philippines, saying that the “country’s momentum is stronger that it has ever
been in recent memory.”
Speaking before the Philippine Business
Opportunities Forum here, President Aquino told France-based companies that
this is the best time to invest as the Philippine economy continues to grow.
“Indeed, our country’s momentum is stronger than
it has ever been in recent memory, and we will not sit idly by; we will build
on this momentum,” the President told the French business community.
“I am here today to invite all of you to be part
of our story—take a closer look at our country, study your prospects, and
ultimately, take part in the Philippine renaissance that continues to win the
admiration of the world,” he added.
President Aquino, who is on an official two-day
visit to France, trumpeted economic gains and the reforms instituted by his
administration before French businessmen.
“As one would expect, our good governance
efforts have breathed new life into our economy. In 2013, the economy grew by
7.2 percent, making us one of the fastest growing economies in Asia,” he said.
“The business community—both domestic and
international—has also noted the sea change in our country,” he said, adding
that international rating organizations have also noticed the Philippines’
comeback.
President Aquino cited the investment grade
status the country obtained from Moody’s, Fitch, and Standard & Poor’s.
Even the World Economic Forum’s yearly Global
Competitiveness Report has named the Philippines as the most improved country
in terms of competitiveness since 2010, he added.
With the economic reforms put in place by his
administration, President Aquino said that his administration is poised to
sustain the country’s momentum.
“I suppose the point of these recollections is
to emphasize the reality: Yours is a matured, developed country, while ours has
just been recently gaining momentum towards development,” he said.
“There is a natural synergy between our
requirements and aspirations, and your strengths and capabilities. Together,
let us maximize the opportunities before us, for the mutual benefit of our
peoples,” he added. PND (co)
Malacañang suspends work in government offices
Malacañang on Friday suspended work in
government offices in Metro Manila and 15 provinces due to heavy rains and
flooding.
"Work in government offices has been
suspended by Executive Secretary Paquito N. Ochoa Jr. for today (September 19),
except for those agencies whose work involves the delivery of basic and health
services, disaster response and other vital public services," Deputy
Presidential Spokesperson Abigail Valte said in a statement.
The work suspension covers Metro Manila,
Zambales, Bataan, Pampanga, Tarlac, Nueva Ecija, Bulacan, Rizal, Cavite,
Batangas, Laguna, Quezon, including Polillo Island, Mindoro Provinces, Camarines
Norte, Marinduque, and Pangasinan. PND (ag)
