Published on Thursday, 11 October 2012 14:08
- Written by Mia M. Gonzalez | Reporter
Addressing the 38th
Philippine Business Conference at the Manila Hotel, Mr. Aquino said that
in 2010, he told business groups that good government was his
administration’s “method” to improve the business climate; in 2011, it
was “the guiding principle for the prudent fiscal policies that allowed
us to weather global economic uncertainty.”
“Today, I tell you: we have a winning strategy on our hands,” the President said.
He backed his claim by
the “robust” growth of the Philippine economy this year, in contrast to
the slow growth we continue to see in other parts of the world,” and is
expected to hit the government target of 5 percent to 6 percent.
Different
organizations and analysts had expressed optimism in the country’s
economic future, the latest from business news site MarketWatch that,
Mr. Aquino said, “classified the Philippines as a ‘new tiger,’ a bright
spot in both the Southeast Asian region and the global economy.”
He said the 2012
Report of Knight Frank and Citi Private Bank has also ranked the
Philippines country as the sixth fastest-growing economy in the world,
while the 2012 Grant Thornton International Business Report Philippines
identified the Philippines as having the second most optimistic
community of business leaders in the world.
“These distinctions
are proof positive that our shared efforts are bearing fruit. Let me
emphasize: It has only been a little over two years, and we are not yet
satisfied, because we know we can do even more,” the President said.
Mr. Aquino said the
government is building on the momentum by accelerating infrastructure
development, to improve the ease of business operations in the country.
He said the government
is also continuing to invest in the people through the conditional cash
transfer, among other programs, so that the country would have a
“capable and empowered citizenry that can fill job openings and
contribute to our agenda of inclusive growth.”
On business concerns
about improved education, Mr. Aquino gave his assurance that the
government is matching substantial increases in funding for basic
education and state universities and colleges (SUCs) under the proposed
2013 budget, with increases in quality.”
The President thanked
the business community for its contribution to the country’s “economic
resurgence,” adding that he had received a report that in the first half
of f 2012, almost 72 percent of total approved investments from the 13
Investment Promotion Agencies have come from Filipinos alone.
He cited the continued
growth of the business-process outsourcing (BPO) and improvements in
the manufacturing sector “when we had feared the loss of manufacturing
to neighboring countries in Asia.”
“These are some of the
remarkable and tangible indications of the confidence that both
international and local businessmen have in the Philippines,” the
President said.
Mr. Aquino said he was
most encouraged by the number of signatories to the “integrity pledge”
among private entities, which has more than doubled to 1500 signatories
in mid-September of 2012 from 700 signatories in 2011.
The pledge, a
multisectoral initiative, is a formal expression of commitment by
companies to abide by ethical business practices and to support a
national campaign against corruption.
The President said all these developments proved that “a virtuous cycle has been ignited in the Philippines.”
“Through reforms
founded on good governance, integrity and accountability, the government
has been able to level the playing field, giving rise to increased
investor confidence,” he said.
Investments, in turn,
had allowed the government to spend more on projects that benefit all
such as in infrastructure development, health, education and social
services.
Miguel Varela,
president of the Philippine Chamber of Commerce and Industry (PCCI),
said in his speech that the country’s economic resurgence in the radar
of foreign investors “is a testament to what the government and private
sector can do together as complementary agents of change and brokers of
inclusive growth.”
Antonio Lopa, PBC
chairman, presented to the President the 38th PBC resolutions, or
business recommendations to enhance the economy.
High-level business delegations from Turkey, Oman, Iraq and Russia attended the conference.
During the event, the
PCCI announced the winners of the 2012 Most Business-Friendly Local
Government Unit Awards: Tarlac and Cebu for the Province 1 Level
category, Valenzuela City for City Level 1, Calamba City for City Level
2, and the cities of Laoag and Calapan for City Level 3.
For towns, the winners are San Nicolas in Ilocos Norte for Level 1 category, and San Felipe in Zambales for Level 2 category.
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