Duterte invites Russia’s leading energy company to invest in PH

Credit to Author: Tempo Desk| Date: Thu, 03 Oct 2019 10:14:20 +0000

MOSCOW, Russia – President Duterte last Wednesday invited Rosneft Oil Co. to invest in the Philippines and assured them that their investments are safe as corruption is not tolerated by his government.

Presidential spokesman Salvador Panelo made the statement following Rosneft Oil Co. Chief Executive Officer  Igor Sechin’s courtesy call on Duterte here.

Panelo said that during the closed-door meeting, Duterte stressed that any agreement resulting from the meeting will follow Philippine laws.

“The President invited Rosneft, the leader in the Russian oil sector, to invest in the Philippines, particularly with regards to oil and gas development, and assured its officials that their investments are safe in the Philippines and that he would not tolerate corruption in the bureaucracy,” he said yesterday.

“We wish to add that the Chief Executive underscored that any agreement that will be executed or performed for such purpose shall undergo the proper domestic processes and comply with applicable laws and pertinent rules and regulations so as not to leave a
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