Ramos generated $20b FDI

Ramos generated $20b FDI

MANILA (AP): President Fidel Ramos' aggressive worldwide quest
for investments has generated about US$20 billion worth of
business for the Philippines in the last five and a half years,
the government said yesterday.

Ramos is the Philippines' most traveled president, having
journeyed to more than 40 countries in 35 foreign trips since
1992 mainly to scout for foreign investment.

The country's thriving business sector and a sturdy economy
are legacies Ramos would like to leave behind, a government
statement said. Ramos' single six-year term ends on June 30 and
he is constitutionally barred from seeking reelection.

In a recent visit to the United States, Ramos got investment
pledges amounting to $1.4 billion from several American
companies, including Ford Motor Corp., the statement said.

Ramos said a successful international launching of $500
million worth of Philippine bonds in New York early this month
indicated strong investor confidence in the Philippine economy.