The Philippine Finance Secretary has been heard to lament that...

The Philippine Finance Secretary has been heard to lament that the mining industry has always been harping on the ability to increase GDP but come budget time, cant commit actual revenues to add to the annual budget
For the past few years, the promised big investments from foreign companies have never materialized -- Kingking, Philnico, Silangan, Tampakan just to name a few. The stories are the same year-to-year for these big ticket investments. Looking for foreign partners. But the millions and billions of investment promised? Nowhere in sight
While the Mabilo Project has been tabbed as a priority project, along with 50+ other projects in the pipeline, it does not boast of a significant foreign investment from the presentations given
What is does boast about is a large return fro a small initial investment
Nothing in the press releases the Finance Dept has seen so far points to a major foreign investment coming from Region 5. Sad commentary