22 December 2004 (Press Statement)-- As Chairman of the Philippines-US Business Council,
I congratulate President Gloria Macapagal Arroyo and DTI Secretary Cesar Purisima on their decision to institute expropriation proceedings over Terminal 3 of the Ninoy Aquino International Airport. Our hope is that by accelerating government's takeover of the facility, the expropriation move will pave the way for Terminal 3 to be operational in the near future, so that it can begin to serve the needs of Filipino travelers and foreign visitors without further delay. We are equally pleased that the expropriation proceedings come with the assurance from Government that it will pay fair and just compensation for the facility.

At the most recent meeting of the RP-US Business Council with the US-ASEAN Business Council last September, the early opening of NAIA 3 was identified as one of the key infrastructure projects that would help stimulate renewed investor interest in the Philippines. This recommendation was forwarded to the economic managers led by Sec. Purisima, and to Pres. GMA herself. It is most gratifying that concrete action has now been taken on this key recommendation.

RAMON R. DEL ROSARIO, JR.
Chairman
Philippines-United States Business Council