President Benigno S. Aquino III invited Spanish businessmen to invest in the Philippines, saying major achievements of his administration in the economic front and in the fight against corruption have prepared the country to be an investment haven in Asia.
“As the Spanish economy shows encouraging signs of recovery, I believe that this is an opportune time to invite you to invest in a resurgent economy,” President Aquino told the Networking with the Philippine Business Delegation event in Madrid, Spain.
In wooing potential investors, the Chief Executive highlighted the country’s strong economic growth record, noting that from 2010 to 2013, the Philippines registered an average growth of 6.3 percent.
He said the investment grade status from Moody’s, Standard and Poor’s and Fitch Group and the World Economic Forum’s Global Competitiveness Report that cited the Philippines as the most improved country since 2010 are proof enough that the Philippines is a sound investment destination.
Even various publications and reputable organizations have referred to the Philippines as “Asia’s bright spot” or “Asia’s rising tiger.”
The President said anti-corruption efforts to cut red tape would make it easier for businesses to set up shop in the Philippines, while reforms to liberalize industries would open more investment potentials.
“All of this, we have to stress, is only the beginning. Our focus has always been on inclusive growth, which necessarily means prioritizing our greatest resource, the Filipino people,” President Aquino said.
Acknowledging that the Filipino people are the country’s greatest resource, the President said his administration has been focusing on improving the lives of the poorest of the poor.
The President said the government has succeeded in improving the plight of around 2.5 million Filipinos above poverty line. He also said the government is now focusing on pushing the “near poor” away from the poverty line.
“Indeed, we are working to go from strength to strength. Moving forward, we continue to invest in infrastructure, to develop key industries like manufacturing, and to expand the coverage of social services, healthcare, and education—so that more Filipinos can take part and contribute to this economic resurgence,” President Aquino said.
“We are determined to prove to the world an important truth about our country: In the Philippines you will find a place where the government is focused on investing on its greatest resource, its people; a nation where entrepreneurs are viewed as partners, and where everyone works to prove that, for tourists and businesses alike: Es más divertido en las Filipinas,” he said. (PND)