Manila Forum Kicks Off

Curtains were raised for the Korea-Philippines Business Forum on February 18 with key Philippine government figures participating the meeting to express their strong will to broaden economic ties between Korea and the Philippines.

President Gloria Arroyo of the Philippines and her five economic ministerial officials attended the event with Environment and Natural Resources Secretary Jose Atienza and Agriculture Secretary Arthur Yap enthusiastically explaining fundamental resources in the Philippines, such as energy, resources and agriculture, during the Wednesday Welcoming Dinner held at the Manila Hotel.

Approximately 90 Philippine enterprisers also participated in the Forum to search for means to expand the exchange between Korea and the Philippines. Ayala Land Inc. (ALI) CEO Jaime Ayala, state-run National Power Corporation CEO Froilan Tampinco, Rizal Commercial Banking Corporation Chairman Alfonso Yuchengco, Ernst & Young Philippine head David Balangue, who is concurrently the Philippine Chairman for the Korea-Philippines Economic Cooperation Council, were all present.

President Arroyo presented the Philippines’ economic vision in her welcoming speech this day and hoped for increased investments from Korea. The Philippine President set the fight against poverty as her topmost policy.

Meanwhile, Chairman Miguel Varela of the Philippine Chamber of Commerce and Industry disclosed, “This is the first time for such giant-sized business forum to be held in Manila between Korean and Philippine entrepreneurs. I hope this Forum could further widen the economic partnership between Korea and the Philippines.”