GERMANS INVEST IN AIRPORT MODERNIZATION
Manila, Nov. 8, 1997 - German investors are keen on upgrading and modernizing the Iloilo, Zamboanga and Laoag airports into world-class air transport facilities.
Hans Spitzner, Bavarian vice minister for economic affairs, transport and technology, said his group will submit a proposal to the Department of Transportation and Communication next week. Included in the package are the scheme to be adopted in undertaking such a plan and the total cost of each project.
With Bavaria's expertise in airport operations, Spitzner is confident that the projects will help improve the country's infrastructure which is a pre-requisite for economic growth.
An 18-man delegation headed by Vice Minister Spitzner was in the Philippines last week, and told President Ramos that the country continues to be one of the investment areas in the region which enjoys much confidence of foreign investors.
As of the first half of the year, trade between the two countries grew by almost 50% from the previous year.
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