RPINDIA ARCHIVE
PGMA
rolls out red carpet to Indian investors
MUMBAI, India-- President Gloria Macapagal-Arroyo has rolled
out the red carpet for Indian businessmen wanting to invest
in the Philippines.
In her meetings Thursday with various business leaders here,
the President cited the investment opportunities the Philippine
has to offer, ranging from, among others, investor-friendly
policies of the government to a highly-reliable, efficient
and productive workforce.
Among the India companies the President invited to invest
or expand their business operations in the Philippines were
Praj Industries Limited, hotel and resort operators, and film
producers.
During her meeting at the Taj Mahal Hotel with executives
of Praj Industries Limited, a pioneering Indian distillery
firm, the President also invited Praj Industries president
and chief executive officer (CEO) Shashank Inamdar to establish
his company’s regional headquarters in the Philippines.
Praj Industries is one of the world’s leading distillery
companies providing innovative solutions in ethanol, bio-diesel
and brewery technology as well as wastewater treatment.
Aside from their Indian home base, Praj Industries also has
plants in Britain, Germany, the United States and Australia.
The President had earlier announced her administration’s
determination to pursue a sustainable alternative energy program
to lift the country from its dependence on expensive imported
fossil fuel and at the same time help minimize greenhouse
gas emissions that lead to global warming.
The President is also pushing for the massive propagation
in the Philippines of jatropha that could be used as a diesel
substitute.
Jatropha seeds could be exported to India for processing.
The President also invited India’s hotel and resort
owners to invest in the Philippines, particularly in the Central
Philippines beltway, to promote tourism.
The Philippines, she pointed out, has a lot to offer to tourists
such as pristine waters, scenic spots and white sand beaches.
“We invite tourist and tourism investors to come over.
We invite Indian hotel chains, such as the Tata Group and
the Oberoi Group to look at, and consider the Philippines
as a destination for your next projects,” she said.
She also told Rajiv Gujral, chief executive officer (CEO)
of Taj Mahal Hotel Resorts and Palace, to take advantage of
the increasing tourists traffic in the Philippines.
Ecotourism has become extremely popular and a growth sector
in the Philippine economy, she said.
The President also regaled Indian filmmakers with the captivating
location sites in the Philippines for making movies, the Filipinos’
creative talents, post production houses and other technical
and logistical requirements.
“This is an advantage not only for investments but
also as a film location site for the largest movie industry
in the world, Bollywood,” she said in her address before
the Confederation of Indian Industries at the Taj Mahal Hotel.
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