NEWSFLASH

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AMERICANS OPTIMISTIC ABOUT RP

Manila, Dec. 6, 1997 - Former US Ambassador to the Philippines Philip Kaplan said yesterday American firms continue to see brighter business prospects in the Philippines and are undaunted by the financial crisis gripping Southeast Asia.

In a briefing at the Board of Investments, Kaplan said American firms are encouraged by the concrete business deals involving various joint venture projects signed during President Fidel Ramos' visit to San Francisco and New York.

Kaplan is now a lead partner off Patton Boggs, a US-based consultancy and law firm. He is in Manila with six top American firms engaged in transportation, petro-chemical, information technology, geothermal energy and power generation.

One firm, Operations Management International (OMI) of Colorado, has signed a $100-million contract with Cavite Governor Epimaco Velasco for a water facility project in Cavite. Another company, Lexmark International, will pursue prospects of establishing an inkjet printers factory in Subic.

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