Left with two options
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No matter the rosy investment pledges and figures being announced by Noynoy Aquino, foreign investors are not likely to plunk their money into the country if the Aquino government does not pay off the owners of the Ninoy Aquino International Airport (NAIA) 3 what is due them — more so today, after the owner, Piatco partner, Fraport, won its ICSID case against the Philippine government after the Washington Ad Hoc committee nullified the earlier International Centre for Settlement of Investment Disputes (ICSID) Tribunal’s decision with finality — which means no more appeal.
The truth is, the Philippine government has been getting a free ride for at least three years with its expropriation of NAIA 3 without, however, paying the owners compensation.
Worse, the government — from the Arroyo to the Aquino government — has been exercising ownership, which the Philippine high court has already banned government from exercising..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110104com1.html
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