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                                                                                                           Ms. Ronadale Zapata




19 October 2005


VICE President Noli ‘Kabayan’ De Castro yesterday lauded business firms that are ‘working silently’ but has contributed significantly to the development of the country’s economy.


De Castro in particular cited the Integrated Global Low Temperature Operation (IGLO) Philippines, Inc that inaugurated its expansion program in Pasig recently.


In his speech during the inauguration of the firm’s third expansion of its multiple temperature controlled facilities at the Manggahan Light Industrial Park in Pasig the other day, De Castro admitted that the country is facing a lot of challenges, some of which were brought by external development, such as the increasing prices of oil and the threat of terrorism.


The Vice President also cited concerns arising from domestic squabbles.


But despite the political noise, De Castro said he is happy that there are businesses like IGLO Phils. Inc. that operate in silence and yet doing its share to help the country rise above its economic woes.


 “I thank you for looking beyond the noise and for seeing the true potential of our country and our people,” De Castro said.


IGLO Phils. Inc. is a joint venture between local partners –Horizons Realty Inc. and Triple Eight Holdings, Inc. owned by the Concepcion Family—and by Malaysia-based IGLO International Ltd. which offers a one-stop comprehensive logistics service using state-of-the-art cold chain facilities for chilled and frozen foods as well as organic products.


Speaking before business executives led by Jose A. Concepcion III, IGLO Phils. Chairman and Raymond De Graff, president of IGLO Phils., De Castro said the firm’s expansion is a manifestation of support for the future of the country.


As a member of the private sector, De Castro said the firm’s decision to invest locally has far reaching implications on the rest of the country, among which are the creation of jobs and employment opportunities for Filipinos, nourishment of the lifeblood of the government through the payment of taxes, and creation of a ripple effect on the economy particularly on related and allied support industries.


De Castro urged IGLO Phils. Inc. to continue trusting the nation’s potential and to remain as an engine of the country’s economic growth. “I hope that IGLO Philippines will continue to be our partner in the development of Philippines. Together, let us build a better future for your businesses and for our people,” he said.


Ref No. VPMEDIA 05-152                                                                                             HOME | back-to-top

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