Malacañang assures JFC vs regulatory risks, no commitment on court orders 02/10/2011

Malacañang assures JFC vs regulatory risks, no commitment on court orders

02/10/2011
Malacañang yesterday declined to give any commitment to potential long-term foreign investors that they will be given immunity from judicial risks when they start doing business under the Aquino administration out of courtesy to the judiciary which is a separate and co-equal branch of government.

Deputy presidential spokesman Abigail Valte issued this statement in response to the appeals made by the Joint Foreign Chambers (JFC) which sought clear assurance from the government that it would be protected against regulatory, judicial and legislative risks.

According to a report, the JFC was also asking the current administration to immediately resolve disputes that marred projects which would have been successful under the previous build-operate-transfer (BOT) system such as the controversial Ninoy Aquino International Airport Terminal 3 (NAIA-3).

Valte explained what they can only guarantee to potential investors is their protection against regulatory risks so that as much as possible the similar issue on the NAIA-3 will not happen under the Aquino administration insofar as its public-private partnership (PPP) program is concerned..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/headlines/20110210hed3.html