<

U.$. Troops Spell $ for Philippines
Tueday, March 5, 2002
Singapore Press

The presence of American troops in Zamboanga is a cause of cheer for this Filipino woman, who took part in a recent rally.
Image Credit: France-Presse (AFP).

Some $110 million in grants and investments have poured into Mindanao alone, says envoy to US

ZAMBOANGA CITY
The arrival of the United States forces for joint military training exercises has attracted more than US$60 million (S$110 million) in foreign funds, officials here said.

Mr Alberto del Rosario, the Philippine ambassador to the US, said some US$60 million in grants and investments had poured into the Mindanao island alone. And more fund commitments were coming, he added.

Zamboanga city, located on the eastern tip of the Mindanao island, had attracted firm investment proposals of more than 100 million pesos (S$3.6 million), said the marketing chief of the Zamboanga Ecozone, Ms Maria Socorro Cipriano.

In contrast, she said, not a single letter of intent was made last year.
(More: The Straits Times Interactive News Source)
2002 © Singapore Press.

Dan