FedEx, Ericsson bare plans for RP

Marichu A. Villanueva

Top executives of two multinational companies (MNCs) informed President Arroyo yesterday of their expansion plans in the Philippines.
During their courtesy call on the President at Malacañang yesterday, the officials of Ericsson Philippines and Federal Express (FedEx) bared their new investment plans as an indication of their renewed confidence in the country’s economic prospects.

They were accompanied by Trade and Industry Secretary Manuel Roxas II.

Bert Lina, who is the head man of FedEx Philippines, disclosed the possible expansion of their operations to include the Cebu International Airport.

FedEx, which is engaged in the air cargo transport business, has been using Subic at its base of operations in the Philippines.

Ericsson, on the other hand, is engaged in telecommunications equipment services. Ericsson officials led by its president and chief executive officer, Robert Etteborn, met with the President yesterday.

"All these (courtesy) calls express support to the new administration. And they bared some of their intentions to operate in the Philippines and other investments," Roxas said. "These are just some of the very good news in our country today," he added.

Roxas said President Arroyo impressed upon the business executives of the two MNCs that the new government in the country under her six-week old administration will work hard to restore transparency and confidence of the investment community.

Roxas said the expansion plans of FedEx and Ericsson will provide additional jobs and income for Filipinos.