President Aquino encourages foreign businessmen to invest in RP
President Benigno S. Aquino III on Thursday invited foreign businessmen from around the world to invest in the Philippines, declaring it open for business once again.
In a speech at the Citibank Economic Conference in New York City, President Aquino shared with foreign business stakeholders the realization of several measures in efforts to promote a conducive business atmosphere in the country.
“I was elected to office on the promise to fight corruption and do better for the poor. I recognize that in order to do that, the engines of commerce must be running at full throttle,” said the President.
“Let me be crystal clear, to achieve our social goals, it is imperative that we in the Philippines create a climate for private enterprise to profit and thrive. And this is what we have begun to undertake,” he added.
Trade and Industry Secretary Gregory Domingo and Secretary of Finance Cesar Purisima presented the Aquino administration’s economic and fiscal agenda. They also outlined some of the reforms underway such as simplifying the process of establishing business, improving infrastructure and relaxing regulations on air travel to and from the country.
For his part, the Chief Executive illustrated such measures in two specific examples. One is putting in place the zero-budgeting scheme in the proposed P1.645 trillion national budget for next year. This required review of existing programs, termination of programs that no longer fulfill intended outcomes and a reduction in the funding of programs that needed to be redesigned.
Belt-tightening measures such as restrictions on congressional pork barrel and reduction of wasteful, and possibly corrupt spending practices, which allowed increase in government’s spending on education, healthcare and the much-needed emergency cash subsidies for the poorest of the poor while reducing budget deficit as a proportion of GDP.
The President also pointed out that the Bureau of Internal Revenue’s Run After Tax Evaders program aimed at plugging the leaks in revenue collection, have resulted in seven tax evasion cases in just two months.
The markets he said, seem to be endorsing the government’s actions. According to him the stock market has hit an all-time high on convincing value turnover. The recent Global Peso Bond offering, he added, raised $1 billion for the Philippines, with the issue being 13 times oversubscribed.
With these economic reforms, President Aquino called on the foreign private businessmen to explore the opportunities being opened for investment in the key areas of the economy.
“With these on hand, we invite the private sector to explore opportunities open for investments in key areas of the economy,” he said.
These investments will see dividends in the form of better educated, more productive workforce whose growing income opportunities will in turn spur consumption and grow the pool of skilled workers and the markets for products and services that the private business sector provides.
“I invite you to come see for yourselves what we’re doing to make sure that the Philippines is once again open for business,” the President said. (PCOO)
Aquino vows to use $434-M grant from MCC wisely
President Benigno S. Aquino III on Thursday (Friday in Manila) vowed to the Millennium Challenge Corporation (MCC) that the Aquino Administration will use wisely the $434 million grant it gave to the Philippines.
In his message at the Millennium Challenge Corporation Compact signing ceremony at the Waldorf Astoria hotel in New York, the President stressed that if the American government can commit resources to their friends, the Philippine government, in return must be worthy stewards of what was given them.
“We will do our part to use this grant wisely,” the President pledged, adding that any aid, if stolen or misspent will be meaningless.
To ensure that the grant will be used to fight poverty and corruption, the chief executive said his government will continue the Revenue Integrity Protection Service (RIPS) or “lifestyle checks” program. He will also ensure that the Policy Improvement Process (PIP) Plan of Action will be implemented in parallel with the Compact projects to effectively address performance issues such as Control of Corruption (COC).
He added that his administration is currently refining the indicators for the Performance Governance System (PGS) which was already introduced in six national government agencies--education, health, public works, transportation, internal revenue and the police.
Aquino said the Philippine Development Forum (PDF) will be revived this year so that the Philippines will remain on track when it comes to the 2015 Millennium Development Goals (MDGs) targets, particularly in primary education and health services delivery.
The President likened the Millennium Challenge Corporation Compact to the Philippines’ “Blood Compact…that portrays the first treaty of friendship between a Filipino ruler and the representative of a foreign power.”
“Tonight, on behalf of the Filipino people, I am bearing witness to the formal approval of a $434 million grant to the Philippines to help our fight against poverty and corruption. This is no ordinary aid agreement… we are bearing witness to a modern kind of compact. A solemn agreement, a covenant, that binds two entities in a common objective,” he said.
The Philippine and American governments, according to him share a common objective, a shared aspiration for poverty to be banished, and for development and prosperity to take its place.
The President noted that the key to unlocking the potential for growth and prosperity among nations is good and honest governance.
For this reason, he said, the Philippine Compact proposal had undergone a rigorous development and multi-stakeholder consultative processes from the time the Philippines was introduced into the Millennium Challenge Account (MCA) Threshold Program (TP) by the MCC five years ago, up to the time the country was selected “Compact eligible” from 2008 to 2010.
The three Compact projects each has integrated several key components to combat corruption:
• The Revenue Administration Reform Project or RARP (US$54.3 million) directly targets improvements in governance or “internal integrity” within the Bureau of Internal Revenue (BIR).
• The Kapit-BisigLabansaKahirapan (“Linking Arms Against Poverty”)-Comprehensive and Integrated Delivery of Social Services or Kalahi-CIDSS (US$120 million) is designed to ensure that resources are provided to communities directly where they are needed most, and enforces transparency and accountability for local development investments.
• The Secondary National Roads Project (222 kilometer road segment in Samar/Eastern Samar; US$214.4 million) introduces a number of checks on construction standards and road contractors.
These projects, the President said, demonstrates the Philippines’ “high capacity” as MCC partner.
`MCC Chief Executive Officer Daniel Yohannes and Finance Secretary Cesar Purisima signed the five-year economic development compact.
The President and US Secretary of State Hillary Clinton presided at the signing ceremony.
“The compact we are signing today was created by and for the people of the Philippines,” said Yohannes. “ Reflecting the policies articulated by President Obama in his speech at the Millennium Development Goals Summit, the Philippines compact is a results-focused program promoting sustainable economic growth. This example of country-designed solutions strives to move the poor from poverty to prosperity,” Yohannes added. (PCOO)
Ochoa: President Aquino’s final decision on IIRC report will be fair
President Benigno Aquino III will make his final decision on the recommendations of the Incident Investigation and Review Committee (IIRC) based purely on merits.
Executive Secretary Paquito N. Ochoa Jr. made this assurance in the course of studying the recommendations of the IIRC, which was formed by President Aquino to look into the August 23 hostage-taking incident.
“Everyone has access to the report, but in the end the President will decide on this. Until then, let’s not preempt the President,” Ochoa said.
According to Ochoa, personalities and politics will not influence the Chie Executive’s final decision.
“The President has always been fair and he will decide on the merits of this case, and not on the personalities or politics involved. He will make a decision that will satisfy the demands of justice, not the demands of political expediency,” Ochoa said.
President Aquino has tasked the Executive Secretary and his Chief Presidential Legal Counsel, Eduardo de Mesa, to assist him in the review of the recommendations of the IIRC panel which identified government officials and media men and organizations who should face sanctions.
According to Ochoa, the role of the Palace lawyers is to help the President understand the legal nuances of the IIRC report and recommendations. “It may or may not sit well with everyone, but the President is a man who is more concerned with truly doing the right thing, not the perception of doing the right thing.”
“Our people have entrusted the President with the task of upholding the Constitution and enforcing our laws. His job in this case is to see to it that justice is done, and unjustly sanctioning people left and right to satisfy the public’s desire to see heads roll is as big an injustice as letting those responsible for this tragic incident go scot-free,” he added.(PCOO)
Aquino sees need for global engagement in R.P. development
President Benigno S. Aquino III recognizes the importance of strengthened global engagement in the country’s development.
In his message at the forum organized by the Council on Foreign Relations (CFR) held at the CFR Auditorium in New York on Thursday (Friday in Manila), the President said strong relations with other countries and partnership with the international financial community will help realize his administration’s goals and objectives.
“Our engagements with the rest of the world will always be at the service of our aspiration to build a vibrant nation,” the President said.
At the forum, the President discussed the Philippines’ relations with its neighbors in the ASEAN, the US and development partners and the Pacific Rim and his government’s vision and platform of government, including the creation of an investor-friendly environment and the peace talks.
“Indeed we have high aspirations in our foreign relations,” the President said even as he quoted US President Barack Obama’s observation that “the Philippines punches above its weight in the international arena.”
The CFR is an independent, nonpartisan membership organization, think tank, and publisher dedicated to being a resource for its members, government officials, business executives, journalists, educators and students, civic and religious leaders, and other interested citizens in order to help them better understand the world and the foreign policy choices facing the US and other countries.
Founded in 1921, the Council takes no institutional positions on matters of policy. (PCOO)
RP to seek US support for Trans-Pacific Partnership entry
The Philippines is seeking the support of the United States in its bid to become a member of the Trans-Pacific Partnership, a multilateral free trade agreement formed with the objective of creating a platform for promoting economic integration among nations in the Asia-Pacific region, President Benigno S. Aquino III said Thursday afternoon in New York (Friday morning in Manila).
In his speech at the Council of Foreign Relations at the CFR Auditorium in New York City, President Aquino said the country is “positioning” itself to join the TPP by laying out the tenets that will mark the new Philippines: good governance, employment generation, quality education, improved public health and a home for every family, within safe communities.
President Aquino is in New York for a weeklong visit.
“With keen interest, we note the Obama administration’s focus in negotiating a regional Asia-Pacific trade agreement known as the Trans-Pacific Partnership Agreement,” President Aquino said.
“Envisioned as a platform for economic integration across the region, the TPP countries would be in a best place to become the region’s leading hub for trade, investment and growth,” he added.
President Aquino pointed out that by being a member of the TPP, “The Philippines aims to engage the US in joint trade initiatives that would serve as mutual building blocks.”
“Just like other ASEAN (Association of Southeast Asian Nations) member states, the Philippines is already positioning itself as a viable member of the Trans-Pacific Partnership,” the President said.
“We seek US support for this as we recognize its leadership role as host of the APEC (Asia-Pacific Economic Community) in 2011,” he added.
The TPP aims to eliminate 90 percent of all tariffs among member countries—Australia, Brunei, Chile, New Zealand, Peru, Singapore, United States, and Vietnam, by January 1, 2006 and reduce all trade tariffs to zero by the year 2015.
It is a comprehensive agreement covering all the mainstays of a free trade agreement, including trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, trade in services, intellectual property, government procurement and competition policy. (PCOO)
Aquino assures CFR of RP’s determination to achieve lasting peace in Mindanao
President Benigno S. Aquino III on Thursday (Friday in Manila) assured the United States Council on Foreign Relations (CFR) that his administration will employ all available means to achieve lasting peace and equitable prosperity in Southern Philippines.
In his speech at the CFR forum at the CFR auditorium in New York, the President told America’s most influential foreign-policy think tank that his administration has a compact with the Filipino people who are dreaming of real peace and unity.
“My administration’s compact with the Filipino people will demand no less than the attainment of lasting peace and equitable prosperity. We will employ all the tools at our disposal to achieve this,” he said.
The CFR is an American non-profit non-partisan membership organization, publisher, and think tank specializing in US foreign policy and international affairs.
The President said he had informed the Moro Islamic Liberation Front (MILF) of the government’s strong desire to revive the stalled negotiations with the Moro secessionist group and offered a table to restart the talks.
“I have offered a place at the table for everyone who wants to talk about peace to unite our country and bring the disillusioned and the disenfranchised, (and those) who have chosen the violent path, back into our democratic mainstream,” he said.
While busy strengthening the country’s infrastructure, the President told them that he will also “create the peaceful and stable environment necessary for economic growth.”
In Manila, Presidential Spokesperson Atty. Edwin Lacierda said the President is scheduled to meet Prime Minister Dato Sri MohdNajib bin Tun Abdul Razak of Malaysia at the sidelines of the 65th UN Session of the UN Assembly.
Lacierda said the President is expected to inform the Malaysian Prime Minister of its role as third party facilitator at the resumption of the GRP-MILF peace process. (PCOO)
Aquino to hold talks with Malaysia, Singapore PMs
President Benigno S. Aquino III will hold a bilateral meeting with the Prime Ministers of Malaysia and Singapore, its two biggest trading partners in the Association of South East Asian Nations (ASEAN), before attending the 2nd ASEAN-US Leaders Meeting on Friday morning in New York.
In a media briefing in Malacanang, Presidential Spokesperson Atty. Edwin Lacierda said the President’s first schedule is the bilateral meeting with Malaysian Prime Minister Datuk Seri MohdNajibTun Abdul Razak at the UN headquarters on Friday morning (10:30 p.m. Manila time).
Aside from being an important trading partner, Malaysia is the second main source of foreign investments for the Philippines among the ASEAN member countries.
Lacierda said the meeting will also be an opportunity for the President to formally and personally inform Prime Minister NajibRazak of the Philippine government’s decision to retain Malaysia as third party facilitator in the continuation of formal talks with the Moro Islamic Liberation Front (MILF).
Lacierda said the President will then hold a bilateral meeting with Prime Minister Lee HsienLoong of Singapore, the Philippines’ largest trading partner in the ASEAN.
He said Singapore is also the country’s 14th largest trading partner in the world, with total trade amounting to $11.6 billion in 2009.
Aside from a strong bilateral trade relationship, the Philippines and Singapore have also agreed to improve tourism and security cooperation.
Lacierda said the President will attend the 2nd ASEAN-US Leaders’ Meeting at the Waldorf Astoria Hotel on Friday afternoon (1:00 a.m. Saturday in Manila).
“The Philippines is the country coordinator for the ASEAN-US dialogue relations and we will be the third speaker during the discussions,” Lacierda said.
During the meeting, Lacierda said the leaders are expected to adopt a joint statement and approve the terms of reference of the ASEAN-US Eminent Persons Group which will recommend strategic partnerships between ASEAN member countries and the US in the fields of political security, and economic and socio-cultural cooperation.
During their first meeting in Singapore in November 2009, the ASEAN leaders and US President Barack Obama pledged to deepen cooperation in trade and investment, regional security, disaster management, food and energy security, and climate change.
After the ASEAN-US meeting, Lacierda said the President will meet with UN Secretary General Ban Ki-Moon and address the 65th UN General Assembly at around 6:15 p.m. Friday in New York (6:15 a.m. Saturday in Manila).
At the UN, the President is expected to call for international cooperation in addressing global issues and discuss the Philippines’ commitment to fulfilling the Millennium Development Goals (MDGs) and continued support for UN peacekeeping missions.
At around 8 p.m. on Friday (8 a.m. Saturday in Manila), Lacierda said the President will then board a chartered plane bound for San Jose, California. (PCOO)
President Aquino halts NHA relocation of San Roque residents
President Benigno Aquino III has instructed Executive Secretary Paquito N. Ochoa Jr. to put on hold the relocation of thousands of informal settlers in a property owned by the National Housing Authority (NHA) until the housing agency puts in place a comprehensive and orderly plan.
Ochoa said he has been instructed by President Aquino, who is on official working visit to United States, to order the NHA to suspend the relocation of families living in the government property in Sitio San Roque II in North Triangle, Quezon City to Rodriguez, Rizal.
“The relocation is suspended until the NHA provides a comprehensive plan that will ensure orderliness in the implementation of relocation activities,” Ochoa said.
The suspension does not cover families that have opted to be relocated voluntarily.
At the same time, Ochoa said the President has instructed government authorities to exercise maximum tolerance to avoid any untoward incident.
According to Ochoa, the President was saddened by the turn of events last Thursday and appealed to residents to exercise the right to oppose their transfer in a peaceful manner.
“The President is saddened by the events that transpired yesterday and has ordered the NHA to ensure that any future relocation plan be implemented peacefully,” Ochoa said.
“While the President respects the families’ right to oppose their relocation to Rizal, he nonetheless calls on them to exercise their right to protest in a peaceful manner. He has likewise instructed all authorities to exercise maximum tolerance and is confident that the issue will be resolved by the parties involved,” he added.
Some 6,000 families on the 340-hectare NHA lot are being transferred to a relocation site in Rizal to give way to the housing agency’s plan to develop the North Triangle property into the Quezon City Business District.
So far around 3,500 families have voluntarily moved to the new relocation site where they were provided houses, a relocation allowance of P6,000 and other support services, the housing agency said.
The NHA Interagency Committee composed of the housing agency, the Commissioner on Human Rights, the Department of Social Welfare and Development, the Presidential Commission on the Urban Poor and the Quezon City government, among others, has conducted a series of dialogues with the residents to discuss their transfer to Rizal.
Families who would be displaced by the development project had been informed of the schedule for relocation last April and another notice was sent out this month, according to NHA.(PCOO)
Aquino urges Filipinos in U.S. to support Save Our Industries Act pending in U.S. Congress
President Benigno S. Aquino III asked all Filipinos in the United States to actively support the Save Our Industries Act of 2010 which, once passed by the US Congress, is expected to generate some 200,000 jobs and bail out the dying textile industry in the Philippines.
The President made the pitch during his speech before the Filipino community at the Mason Hall of Baruch College on Thursday night (Friday morning in Manila) in New York.
The President set aside his prepared speech and talked extemporaneously in Tagalog before his delighted countrymen.
During its heyday, the President said the local textile industry is benefiting almost 800,000 Filipinos which at present have dwindled to only about 180,000 due to stiff competition in the world market.
Two proposed bills —House Resolution 3039 and Senate 3170—known as “Save Our Industries Act” or “SAVE Act,” are still pending at the US Congress.
The President said the pending bills will not only save the American textile and fabric industry but also give advantage to the Philippine garment and apparel industries which have suffered declines in sales after the US lifted its import quotas and was eventually swamped with cheaper textile apparel from other countries.
Once passed, the SAVE Act would grant duty-free status to garments and apparels wholly assembled in the Philippines, on condition that these are made of US-made textiles, fabrics, yarn and cotton.
On the other hand, US yarns, textiles and fabrics will also be granted duty-free status when exported to the Philippines.
As election in the US nears, the President urged US-based Filipinos to lobby and even send letters to their American congressmen and senators for its passage.
“Ano ang kapalit ho noon? Tinataya ko sa loob ng dalawang taon, dalawang-daang milyong dolyar na U.S. fabric ang mabebenta at yung amount na ito ay pwede pang lumaking $500 million in five years,” the President said.
Aside from creating some 2,000 jobs in the US, the President said the passage of the bill will create some 200,000 jobs in the Philippines.
“So, kailangan, seryosong-seryosopo, kailangan namin ma-mobilize sa inyong tulong dahil ito lang ho ang paraan para talagang maging batas itong panukalang batas na ito. So, pwede ko ho bang asahan iyan?” the President said. (PCOO)
