AMBASSADOR TAGO MEETS WITH HRH PRINCE AL-WALEED BIN TALAL

Press Release No. 94/2011, 09 October 2011

Philippine Ambassador to Saudi Arabia Mr. Ezzedin H. Tago was received on 3 October 2011 by HRH Prince Al-Waleed bin Talal bin Abdul Aziz Al-Saud, Chairman of Kingdom Holding Company at the latter’s office in Kingdom Tower in Riyadh.

Ambassador Tago was accompanied during the meeting by Jeddah-based Trade Representative Paisal Abdullah and Third Secretary with the Philippine Embassy in Riyadh Mr. Paulo V. Saret.

Ambassador Tago and HRH Prince Al-Waleed bin Talal discussed various issues of mutual interest to both countries, including the progress of the Fairmont Makati Hotel and Raffles Suites Residences, an investment in the amount of US$ 153 million by Kingdom Hotel Investments (KHC) in Makati, Philippines. The project started in 2007 and is scheduled for completion in 2012.

Under the Philippine President H.E. Benigno S. Aquino III, the Philippine government is encouraging private-public partnerships to finance the construction, operation and maintenance of infrastructure projects normally undertaken by the government. The website of the Public-Private Partnership Center is http://ppp.gov.ph.