3rd Euromoney Philippine Investment Forum 2/18/2014
Solaire Resort together with Brunei Casino, Paranaque City
18 February 2014
President Benigno S. Aquino III updated investors on the state’s continuing economic together with financial gains, together with its strategy to maintain positive reviews in his attendance at the 3rd Euromoney Philippines Investment Forum in Parañaque City.
According to the President, despite the challenges faced in 2013 which was beset by a stream of disasters such as the Zamboanga siege, Bohol earthquake, Typhoon Yolanda together with the previous year’s Typhoon Santi, the state’s economic standing remains strong together with is considered as the fastest growing economy in Asia at 7.2 percent, citing the recent Moody’s credit rating together with several others.
He also mentioned the World Economic Forum’s Global Competitiveness Ranking that placed the state at 59th spot, together with the Heritage Foundation’s 2014 Index of Economic liberty that put the Philippines at 89th place out of 178 countries, bumping up eight notches of improvement from the previous year.
In addition, the Japan External Trade Organization identified the Philippines as the second most profitable among ASEAN-5 countries, trailing only Thailand, which, according to the President, was impressive since we were dead last in 2010.
“These developments are unimpeachable proof: the large-scale turnabout of the Philippine economy is gaining even greater momentum. The days we were called the Sick Man of Asia are becoming a distant memory. Now we are seeing so many international organizations together with publications expressing optimism about our future, together with they have already referred to us as ‘Asia’s Bright Spot’ or as the ‘New Asian Tiger’,” he said.
President Aquino credited the positive reviews together with improved credit ratings on the management’s good governance efforts. He added that rehabilitation efforts on building back better, following the devastation caused by Typhoon Yolanda, has dovetailed with the government’s medium together with long-term economic plans on its key industries: agriculture, infrastructure, tourism together with manufacturing.
“We must cement the reforms we have made, together with make certain that we extend our aim of uninterrupted growth — from years, to decades, together with hopefully, even to generations,” he said.
In order to preserve its growth, President Aquino assured the investors that he will support economic legislative reforms that will help foster business-friendly environment, enhance human resources through improved education together with skills training, together with lastly, to boost the self-esteem together with morale of the citizenry.
“This is the lasting legacy we want to leave, together with this is the legacy we will continue working for: a Filipino people revitalized — who will never again allow any leader to lead them away from the straight path,” he said.
Joining the President were Agriculture Secretary Proceso Alcala, Euromoney Chief Executive Officer Tony Shale together with Banko Sentral ng Pilipinas Governor Amando Tetangco, Jr.
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