Intl investors keen on PHL, says President

BACK from the cool climes of Davos, Switzerland, President Aquino confirmed on Sunday the increasing interest of investors to do business and expand investments in the Philippines, prompting him to accept an offer for the country to host the next World Economic Forum (WEF) in East Asia in 2014.

In Davos, he said upon his arrival at the Ninoy Aquino International Airport,  European and other foreign leaders and businessmen  had been eager  to meet with him on how they can do business with the Philippines.

According to the President,  it was clear from talks he had with heads of state and chief executives officers attending the WEF in Davos that the international business community has taken notice that the Philippines is no longer the “Sick Man in Asia” as it was once known.

“Nakarating na po sa kanila ang magagandang balita ukol sa Pilipinas, nakikita na nila ang mga naisasakaturapan nating reporma, ang paglago ng ating ekonomiya, pati na rin ang makatuwiran nating paninindigan sa ugnayang panlabas [The good news has reached them, they see the reforms we have implemented, the growth of the economy and our clear-cut foreign policy],” Mr. Aquino said.

He added that his attendance at the WEF gave him the chance to personally assure international investors of the reforms that have been instituted under his watch.

The President admitted that he had initial hesitation about his going to Davos. But, he said, in the end he decided to fly to Switzerland because he thought he was the best person to answer questions from the international community.

Among the leaders he met was WEF Founder and Prof. Klaus Schwab who,
Mr. Aquino said, praised the reforms that the government pursued when he took over the presidency in 2010.

He added that he also sat down with  Managing Director Christine Lagarde of the International Monetary Fund and personally appraised Lagarde of the new way of doing things in the Philippines under the Aquino administration. The President recalled sitting in a jam-packed meeting with top business leaders from all over the world organized by the Ayala Corp. and where he saw leaders and businessmen who wanted to “cash in” on the Philippines’s economic achievements.

 by: Butch Fernandez / Reporter (business mirror)