1 billion peso price tag for summits 'money well spent'
The series of Asian summits which wound up yesterday cost the Philippine government about 1 billion pesos (HK$160 million) and it was money well spent, a senior official said.
'We have not worked out the final numbers as yet but it should be around 1 billion pesos,' said Marciano Paynor, head of the summits' organising committee.
'What did it buy us? Goodwill and good publicity.'
The estimate covers both a hastily postponed meeting last month and the annual summit of the 10-nation Association of Southeast Asian Nations, its meetings with dialogue partners and the 16-nation East Asia summit held yesterday.
The government of Philippine President Gloria Macapagal-Arroyo came in for criticism for postponing the meetings in the resort of Cebu.
It cited an approaching typhoon, but foreign governments had issued warnings of terror attacks.