March 19, 2012 - 12:06 AMT
Armenian, Russian businessmen mull investments in Philippines

Philippines’ Foreign Secretary Albert del Rosario has invited rich Russian businessmen to invest in the government’s Public-Private Partnerships (PPP) Program. He also encouraged all Russians to enjoy summer in the Philippines amid the winter chills in Europe, Business Mirror reported.

Speaking before a gathering of Russian government officials, key Russian and Armenian businessmen, del Rosario said the Philippines has improved its investment environment by easing business requirements. The country also has a sound economic policy and rich human resources, he informed his audience.

He said Russian businessmen could invest in the Philippines’s priority sectors such as infrastructure, agribusiness, business-process outsourcing, mining, tourism, creative industries, and medical travel.

The chief diplomat met with Russian Foreign Minister Sergey Lavrov in the Russian capital, Moscow from March 12 to 14 during the commemoration of the 35th anniversary of the establishment of diplomatic relations between the Philippines and Russia, according to a press release of the foreign office.

During their meeting, del Rosario and Lavrov discussed measures to deepen and strengthen Philippine-Russian relations in various fields.