Mayor Emano urges Koreans anew to invest in Oro

With the influx of South Korean visitors in Cagayan de Oro, City Mayor Vicente Y. Emano appealed to them not only to visit the city for pleasure but to do business most importantly.

Mayor Emano made the invitation to invest in Cagayan de Oro over the weekend before South Korean guests during the 1st Anniversary of Hotel Koresco, the only four-star hotel in the city which is owned by a South Korean company that brought Koreans to play golf at the world class Pueblo de Oro Golf and Country Club.

Mayor Emano said that Koreans have established a strong bond with the Cagayanons especially with the local business community after a series of trade missions held by the city to South Korea in the past.

Mayor Emano pointed out that the Filipinos especially the Mindanaoans needed foreign support in developing the island and that the presence of foreign visitors is a great help to the economy as they stay in hotels, dine in restaurants, and shop in malls and souvenir stores.

But the city mayor urged them to come not just as tourists but also as investors even as he underscored the viability doing business in Cagayan de Oro as has been proven by the experience of Hotel Koresco which invested a 74-room hotel a year ago.

He assured the Koreans that once they will invest in the city, an equal protection of the law will be accorded to them.

You are in the city of Cagayan de Oro, the fastest growing city and the most peaceful in the whole country today. The city beckons to you (investors) and we will adjust to your needs,? Mayor Emano said.

He considered the foreigners especially the Koreans a vital partner of the government to develop Mindanao and asked the Koresco management especially its chairman Ko Suk Koo to help him in negotiating with the executives of POSCO which are planning to put their $750M plant in South-East Asia.

The mayor plans to go to Korea on the 2nd or 3rd week of December, this year for at least two days to lure the executives of POSCO to invest in the city instead of establishing it in Hanoi, Vietnam.

Having Posco in the island is a very good sign for Mindanao?s economy. Posco is the world?s 5th largest steel maker from South Korea.

Meanwhile, over 60 Koreans played golf during the anniversary and out of their registration they donated the amount to the city government which totaled to P100,000.

Mayor Emano expressed his deepest and sincerest gratitude to the Koreans in helping develop Mindanao especially Cagayan de Oro.
(City Information Office)

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