— Five of the six female members of the Senate pose for a souvenir photo in their colorful attire before the opening of the 3rd and last Regular Session of the 16th Congress at the Senate Building in Pasay City on Monday (July 27, 2015). They are (from left) Senators Pia Cayetano, Loren Legarda, Cynthia Villar, Grace Poe and Maria Lourdes Binay. Not in photo is Senator Miriam Defensor Santiago. (MNS photo)
MANILA, July 27 (Mabuhay) – The reforms set by his administration have made companies in the country and abroad more confident in investing in the Philippines, thus moving the economy forward, President Benigno Aquino III said Monday.
“Pinakita nating seryoso tayo sa pagbabago… Ang resulta, kumpiyansa sa ating ekonomiya. Noong una, hindi ko inasahang agad magbabalik ang tiwala ng mundo sa Pilipinas. Ang inisip ko lang noon ay itigil ang kalokohang umiiral sa sistema para huminto ang paglubog ng mga mahihirap,” Aquino said in his sixth State of the Nation Address.
Aquino pointed out that in his five years in office, the Philippines has bounced back in various economic indicators, among them the Global Competitiveness Index of the World Economic Forum, where the Philippines is currently at 52nd place, 33 steps up from 85th place in 2010-2011.
“Sumagi lang ba sa isip ninyo na magtutuluy-tuloy ang ating pag-angat sa Global Competitiveness Ranking at magiging tanyag tayo sa bilis ng pagtaas ng ating ekonomiya? Ngayon, ang Pilipinas ay nabansagan nang ‘Asia’s Rising Tiger,’ ‘Asia’s Rising Star,’ at ‘Asia’s Bright Spot,’” he said.
He added: “Ngayon nga po, sa kauna-unahang pagkakataon, investment grade na tayo ayon sa mga pinakakilalang credit ratings agencies. Malinaw ang sinasabi nito sa mga negosyante: Sulit mamuhunan sa Pilipinas. Nabawasan na ang peligro sa pagnenegosyo dito.”
Citing figures, Aquino said the “direct result” of reforms they launched via “daang matuwid” include an increase in net foreign direct investments to $6.2 billion in 2014 from $1.07 billion in 2010, a record high.
“Ngayon, ang Pilipino, tumataya sa kapwa Pilipino,” he said, adding that domestic investments have leaped to P2.09 trillion from the third quarter of 2014 from P1.24 trillion in 2010.(MNS)