Philippine President Benigno Aquino III vowed Thursday that justice will be served to the victims of the botched rescue attempt to free Hong Kong tourists taken hostage by a sacked policeman.

The president made the remarks in his speech at the ground breaking and time-capsule laying ceremonies for the construction of the Teacher Education and Law Center Building of the Rizal Technological University in Mandaluyong City.

"There were shortcomings (in handling of the hostage crisis), but there will be justice," he said.

However, Aquino III said that due process will be maintained and the results of the investigation being conducted by the Department of Justice and the National Bureau of Investigation into the case will be the basis for bringing the perpetrators to justice.

"I assure you, we started to rectify whatever mistakes had been committed Monday evening, and you will be informed of the outcome of the investigation," he said.

An ex-policeman turned gunman hijacked a tour bus carrying 21 Hong Kong tourists Monday morning in Manila. The incident ended with the deaths of eight tourists. The hostage taker was also killed in police assault.