P-Noy to meet executives of top 4 firms in Brunei

Brunei, Darussalam – Aside from enhancing bilateral ties, President Aquino will be meeting with top executives of the four biggest companies here, in an effort to entice foreign investors to pour investments in the Philippines through Public- Private Partnerships.

The 53-man official delegation will be welcomed by Amb. Nestor Ochoa when they arrive here today, where the President is expected to sign agreements on tourism, agriculture, shipping and ports and sports.

The President, who will be meeting Sultan Hassanal Bolkiah during his two-day state visit here, will be having business meetings with Brunei Economic Development Board, QAF Brunei SdnBhd (Co. Ltd.), Brunei Investment Agency and MASHHOR Group of Companies.

There will also be a tour of Royal Regalia and a tour of the Jame’ Asr Hassanil Bolkiah Mosque at Jame’AsrHassanilBolkiah Mosque. The business meetings will be held at Istana Edinburgh.

Sultan Bolkiah will be hosting a state banquet for members of the Philippine delegation tonight.

President Aquino will have an audience with the Sultan at Cheradi Laila Kenchana, Istana Nurul Isman as soon as he arrives here today.

The President is also expected to visit the New Muara Container Terminal Services at Jabatan Pelabuhan, New Muara Container Terminal Sdn Bhd, which is being managed by Filipino business tycoon Enrique Razon of the International Container Terminal Services Inc.

Mr. Aquino will end his official visit tomorrow at 5 p.m., where he will be at the Bandar Seri Begawan International Airport. He will be using the Presidential Plane F-28 and is expected to be at the Villamor Air Base two hours later.

The President said he will be meeting with the Sultan and their foreign minister, where they will discuss Philippines’ importation of oil and petroleum products, and they will also be inviting Brunei investors who can help in exploiting natural gas in the country.

The President hopes to reduce the transport sector’s dependence on diesel, and rely more on either liquefied petroleum gas or natural gas – which is available locally – for purposes of insulating domestic supply from the fluctuating prices of crude oil in the world market.