Solons call for swift resolution of NAIA 3 dispute
By Gerry Baldo 03/16/2011The dispute has gone on too long and has prevented foreign investors from plunking their investment money in the Philippines.
House of Representatives members of the committee on transpor-tation yes-terday called for a swift re-solution of the long-standing legal dispute hounding the Ninoy Aquino International Airport Terminal 3 (NAIA 3) to restore foreign investor confidence in the Philippines.
Calling it a “black eye on the administration’s efforts to lure foreign businessmen, particularly those from the European community, San Juan Rep. Joseph Victor Ejercito said it was time for the government to come to terms with the legal problems confronting NAIA 3.
Ejercito said the controversies surrounding the project of Germany’s Fraport AG, a principal investor in the Philippine International Airport Terminal Company Inc. (Piatco) which built the world-class facility, had worried potential investors for many years, owing to the foot-dragging of both the Arroyo and the Aquino governments in paying Piatco what is due the company for governmen’t expropriating the NAIA-3 while ignoring the Supreme Court order banning government from exercising ownership.... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/headlines/20110316hed3.html
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