MANILA, Philippines – More than 200,000 jobs will be created from April to June as construction for resorts, hotels and restaurants in the PAGCOR (Philippine Amusement and Gaming Corp.) City will be in full swing during the second quarter.
In an interview, PAGCOR chairman and CEO Ephraim C. Genuino said construction will begin in the second quarter and employment created by investments in the PAGCOR City is estimated to exceed 200,000.
At the same time, Genuino announced that they are negotiating with three multinational firms that will bring in a minimum of $3 billion worth of new investments in the Las Vegas type city before the end of the year.
Genuino said he doesn’t know exactly how much these firms will put in the country but the minimum investment in the PAGCOR City is $1 billion. This means that the investment would be more than $3 billion.
He added that the new investments will bring in more jobs to the country.
Genuino refused to divulge who the new investors are saying only that they are from Europe, the United States and Korea. “These firms have global personalities,” he noted.
He said PAGCOR is in the process of reviewing the investment proposals. He said the study is expected to be completed within two to three months and the investment will hopefully come in before 2010.
He said investments for the PAGCOR City has deviated from amusement and has instead shifted to tourist attractions the entire family can enjoy. “Only three percent of the entire investments are geared towards gaming. Majority are tourist attractions.”
The Genting group of Malaysia and the Azure group, the Japanese partner of casino mogul Steve Wynn, each of which would be spending at least $3 billion, are the first two investors in the PAGCOR City.
The other is the investment of mall tycoon Henry Sy’s SM Investment Corp. The company is in talks with a US-based casino operator and is considering developing a one -1.2 hectare casino facility at an estimated cost of P2 billion to be rented to casino operators.
Earlier, Genuino said $20 billion would be spent in putting up the Entertainment City. The complex will be built in three phases on an 800 hectares of reclaimed land. The first phase will host a hotel-resort and theme park. The next two phases will have retirement villages and entertainment centers.–Ma. Elisa P. Osorio, Philippine Star
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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