Angeles told reporters that talks are ongoing with AsiaKonstrukt and the National Development Corp. (NDC), developers of Expo Pilipino, for its conversion into a "different theme park."
Former President Joseph Estrada ordered the 60-hectare Expo Pilipino shut down after it incurred heavy losses.
The Expo Pilipino was built at a cost of some P3.2 billion as the centerpiece of the independence centennial celebration during the former Ramos administration.
It has a large, teflon-roofed amphitheater — the so-called "Freedom Ring" — which is now deteriorating. It also has edifices built from donations of foreign countries, which are similarly in sorry state.
Angeles said he has proposed that the Expo Pilipino be converted into a multipurpose park that will accommodate a museum, a sports area and skills training center, among other features.
Angeles said the CDC plans to launch a contest for the renaming of Expo Pilipino.
"It has to be functioning by Feb. 14, Valentine’s Day, next year," he said, adding that he wants the private sector to operate it.
Meanwhile, Angeles also wants two other major projects finished as soon as possible, possibly under the build-operate-transfer (BOT) scheme.
They are the long-delayed Clark-Metro Manila modern railway system and a new international passenger terminal for the Diosdado Macapagal International Airport (DMIA) here.
"We are eyeing Japan’s Obuchi fund for the railway. If we get this, we will probably have the Japanese do the project itself," he said.
Angeles said several foreign firms are interested in building the new passenger terminal. "We are carefully studying the proposals and make sure that we choose one which does not only have the expertise, but also the funds," he said.
Angeles reported that Cebu Pacific started its thrice-a-week regular flights between Clark and Cebu last week, and plans daily flights by next month.
He said the US firm Federal Express is expected to do business here starting this month amid plans of the United Parcels Service (UPS) to set up shop at the DMIA next year.