President Gloria Macapagal-Arroyo witnessed the signing today of a land lease agreement between Hanjin Heavy Industries and Construction Co., Ltd. (HHICC) and the Subic Bay Metropolitan Authority (SBMA) for the Korean company to construct and operate a shipyard at the Subic Bay Freeport Zone (SBFZ) in Zambales.

The signing ceremony was held at Malacanang’s Rizal Hall.

Hanjin will invest about $1 billion over the next 10 years in a steel structure fabrication yard in the 230-hectare land covered by the lease agreement.

The shipyard is expected to be finished by 2016.

Once operational, the shipyard will build liquefied natural gas (LNG) carriers and very large container carriers (VLCC) for customers around the world.

HHICC is represented in the country by its local corporation, HHICC-Philippines, Inc.

The Korean investment is also expected to boost economic activity at the country’s premiere freeport zone and generate 30,000 to 40,000 jobs.

Trade and Industry Secretary Peter Favila said the Korean investment shows that foreign investors’ confidence in the country remains despite the destabilization plots against the government.

He said investors, particularly officers of HHICC, were impressed by the President’s handling of attempts by the political opposition and other critics of the administration to destabilize the government.

"HHICC Chairman Mr. Nam Ho Cho congratulated the President for being able to take stock of the situation over the past days. They have decided to put in $1 billion in new investments at a time when all these events are taking place. Clearly, this is positive sign that the confidence in this government remains," Favila said.

Among those who witnessed the signing of the agreement were Public Works and Highways Secretary Hermogenes Ebdane Jr., Labor Secretary Patricia Sto. Tomas, Transportation and Communications Secretary Leandro Mendoza and Finance Secretary Margarito Teves.

There is a crackdown on anarchy and disorder, not on freedoms.

Proclamation 1017 is not a tool for oppression but a shield of the state and the people against mob rule and the seditious use of the tools for public information to foment civil unrest.

The President commends the PNP and the Prosecutor’s Office for the speedy filing of criminal charges against those who tried but failed to bring down the government.

If the plotters had succeeded, the country could have been in flames by now as the factions of the extreme left, the misguided elements of the military and the political opportunists fight among themselves for supremacy.

With their setback, the plotters also failed to derail our economic gains.

Confidence in the economy remains high and this is a tribute to the decisive actions taken by President Gloria Macapagal-Arroyo to restore political stability.

Three more giant corporations pitched in their share in the government’s rescue and relief operations in landslide-hit Southern Leyte, donating a total of P4 million that brought the fund drive to over P100 million.

President Gloria Macapagal-Arroyo received three checks during simple turnover rites held before the joint National Disaster Coordinating Council (NDCC) and National Anti-Poverty Commission (NAPC) Cabinet Group meeting this afternoon at the Aguinaldo State Dining Room of Malacaņang.

The latest donors to the victims of the massive landslide were Toyota Motor Philippines which gave P2 million; Toyota Auto Parts Philippines, P1 million; and Metrobank Card Corp., P1 million.

The checks were presented to President Arroyo by Anne Young, Metrobank Card Corp. president; Yasuhiro Takeuchi, Toyota Auto Parts Phils. president; and Hiroshi Ito, Toyota Motor Phils. president.

The President thanked the executives for their donations which she turned over to the Department of Social Welfare and Development (DSWD).

Assistance and donations in cash and in kind for the landslide victims have been pouring in from foreign and local donors.

The NDCC has estimated the damage to agriculture and infrastructure in Barangay Guinsaugon in St. Bernard, Southern Leyte at P11 million.

Malacanang said today that the government will never use Proclamation 1017 as a tool for oppression or to suppress people’s freedoms under the Constitution.

In a statement, Press Secretary and Presidential Spokesman Ignacio R. Bunye said that on the contrary, President Gloria Macapagal-Arroyo issued Proclamation 1017 precisely to protect the "state and the people against mob rule and the seditious use of the tools for public information to foment civil unrest."

He added that there is no crackdown on freedoms, only on anarchy and disorder.

Bunye said that had the plot to overthrow the government succeeded, the country could be in flames by now as the plotters composed of a disparate group from the "extreme left, the misguided elements of the military and political opportunists fight among themselves for supremacy."

Earlier, Bunye stressed that the declaration of a State of National Emergency was borne out of necessity. "The objective is to preserve the Constitution, defend the rule of law, prevent violence and disorder."

The President has commended the Philippine National Police (PNP) and the prosecutor’s office for acting swiftly and filing the appropriate criminal charges against those involved in the attempt to overthrow the government.

Bunye said confidence in the economy remains high despite the events of the past few days and "this is a tribute to the decisive actions taken by the President to restore political stability."