Aquino to meet with Volkswagen execs in Davos
MANILA, Philippines - Among the business executives President Benigno Aquino III will meet in Davos in Switzerland are key officials of German car manufacturer, Volkswagen.
Meeting the representatives of the carmaker, which has expressed interest in "reestablishing operations" in the Philippines, will be Aquino's first activity when he and his party arrives in the host town of the World Economic Forum.
"They (Volkswagen executives) are interested in reestablishing their operations...," Presidential Communication Development and Strategic Planning Office Secretary Ramon Carandang said during a press conference with Filipino journalists covering the event.
The meeting is part of Aquino's efforts to attract more investments into the Philippines. Aquino once described himself as the salesman-in-chief.
The Volkswagen Group is Europe's biggest automaker and the second biggest in the world. It is headquartered in Wolfsburg, Lower Saxony, Germany. In October 2012, Volkswagen inked an agreement with the Ayala Group to distribute its passenger vehicles in the Philippines.
"About 10 years ago or so, there was a retail operation [in the Philippines] where you could buy their cars, but that closed down," explained Carandang. "Beyond that, we're hoping that this is going to be a first step to what we hope will be more investments in the Philippines by Volkswagen and by other European companies."
Aquino and the some of his 63-member delegation are expected to arrive at the Zurich-Kloten International Airport January 24 (Zurich time) and will immediately proceed to Davos.
His entourage includes Foreign Affairs Secretary Albert del Rosario, Finance Secretary Cesar Purisima, Trade and Industry Secretary Gregory Domingo, Budget and Management Secretary Florencio Abad, Socio-economic Planing Secretary Arsenio Balisacan, and Secretary to the Cabinet Jose Rene Almendras. - Rappler.com