3 PH firms set sights on Myanmar

NAYPYIDAW – Three Philippine companies are eyeing business opportunities in Myanmar, President Aquino announced here before the weekend.

Philex Mining Corp. is eyeing possible mining projects, Maynilad Water Services Inc. is looking at projects that will minimize wastage in water distribution, and Manila Electric Co. (Meralco) is eyeing electricity distribution.

“Philex is... working with partners or talking with partners already for possible copper (and other mining projects),” the President told reporters Friday night after attending the World Economic Forum on East Asia, the first international event hosted by Myanmar since it opened up in 2010.

Aquino said Myanmar President Thein Sein, whom the Philippine leader met at the Presidential Palace Friday morning, asked the Philippines to help mostly in agriculture and energy.

He also said the National Economic and Development Authority would be inviting their counterparts to undertake trainings in the Philippines to build up a bureaucracy but the “concentration of President Thein Sein was agriculture.”

Aquino said Thein Sein also thanked the Philippines for training students in agricultural institutes.

Aquino, however, admitted he was a bit uncomfortable when he first met Thein Sein and brought up the issue about pro-democracy leader Aung San Suu Kyi.

“We’re not of the same age bracket and I was very new in ASEAN,” Aquino said, noting that no matter how he tried to sound courteous, it still appeared that he was giving advice to an older person.

“In fairness to him, he did not become belligerent at what I said, that what was important was to have an inclusive system (as this would) induce stability,” Aquino said.

“Your (Myanmar) stability is the necessary component for prosperity. Your stability and your prosperity redound to ASEAN’s own increased stability and prosperity,” he added.

The President lauded Myanmar for opening up and holding elections in which the opposition also won seats.

Aquino said the Philippines had also been isolated for some time, and that Myanmar must be engaged and trade sanctions must be lifted so that its economic growth will not be hampered.

“Let us help them see that the route they are taking is for the good not only for them but also for everyone. So to everyone watching, you can’t be just be mere bystanders and onlookers. We should be able to provide help to them so they will continue to take the route they are treading now,” Aquino said.

source: ABS-CBN News
http://www.abs-cbnnews.com/business/06/09/13/3-ph-firms-set-sights-myanmar