Aquino invites Korean businessmen to invest in PHL
President Benigno S. Aquino III is inviting Korean businessmen to invest in the Philippines through the government’s Private Public Partnership program.
The President issued the invitation to Korean National Assembly Speaker Park Hee Tae, who called on him at Malacañang on Monday.
Joining the President in welcoming Speaker Park were House Speaker Feliciano Belmonte, Deputy House Speakers Lorenzo Tañada III and Maria Isabelle Climaco, and Rep. Al Francis Bichara, who chairs the House Committee on Foreign Affairs.
Speaker Park, on the other hand, was accompanied by members of Korea’s National Assembly namely: Ko Heung Kil, Lee Kong Rae, Chang Yoon Seok, Lee Sun Hun and Park Sun Young.
Korean Ambassador to the Philippines Lee Hye Min was also present during the courtesy call.
In an interview, House Speaker Belmonte said that aside from inviting Korean investors to put up businesses in the country, the President and Park discussed ways to further strengthen relations between the two countries.
“Pinag-usapan yung relations between Korea and the Philippines (and how to strengthen) mutual help (between the two countries) in various areas,” Belmonte said.
“The President (also) discussed the PPP and invited Korean businessmen to take advantage and participate in the PPP programs particularly for infrastructure,” he added.
The PPP is a flagship development program of the Aquino administration that aims to boost infrastructure development in the country through “partnerships” with the private sector which will in turn free up vital government resources for social development programs. (PCOO)
Government to prepare for global impact on economy of Japan's crisis - Aquino
President Benigno S. Aquino III assured that the government will put in place contingency measures for the country to be able to cope with the global impact of the powerful earthquake and tsunami that hit Japan last week.
In a press briefing on Monday at Malacanang after he formally launched the Public-Private Partnership on Labor Governance at the Heroes Hall, the President said the Japan twin disasters will definitely have an effect on the country’s economy.
He said his economic team is now studying the effects of Japan’s economy falling out on the country.
“I was informed by the economic team that we will be guided (by the study) as to how we will cope with the fall of one of the world’s biggest economies, one of our biggest official development assistance (ODA) source and one of our biggest trading partners,” the President said.
“The directions that we will take after the study will tell us exactly what needs to be done so we can cope with this development that has happened,” he added.
Some of the country’s economists have said that the government should look for other loan and financing alternatives as Japan gears for a massive reconstruction of its economy.
Reports said that reconstruction in Japan may take at least 10 years and a lot of spending.
With this development, economists forsee Japan’s ODA to the Philippines declining and investments in infrastructure development taking a stand still.
At least 33% of the country’s ODA portfolio comes from Japan. (PCOO)
Aquino maintains approval and public trust ratings - Pulse Asia
President Benigno S. Aquino III continued to enjoy approval and trust ratings of the Filipino people despite criticisms of his administration in his nine months in office, according to the latest survey of Pulse Asia released on Monday.
In a nationwide survey conducted from February 24 to March 6, 2011, Pulse Asia revealed that President Aquino registered a performance rating of 74% and public trust of 75%. The survey is based on a sample of 1,200 adult respondents and it has plus minus 3% error margin at the 95% confidence level.
“Nearly three in four Filipinos (74%) approve of the performance of President Benigno S. Aquino II in the past three months,” it stated in the Pulse Asia’s March 2011 Ulat ng Bayan survey.
“No significant changes in the performance and trust ratings of President Aquino occur between October 2010 and March 2011 – at the national level and in all geographic areas and socio-economic groupings,” the survey added.
The Pulse Asia noted that a big majority of Filipinos (75%) trusts the President and gave him a 71% to 78% majority trust ratings in all geographic areas and 69% to 84% from socio-economic classes.
The survey also observed slight changes in the President’s performance and trust ratings decrease by 5% in approval and trust from October 2010 to March 2011.
Out of 11 national issues, the Aquino administration scores majority approval rating in the fight against graft and corruption in government (56%) which is the centerpiece of his campaign during May 2010 presidential election, fighting criminality (54%) and improving the national peace situation (53%).
Other national issues were the following: enforcing the law equally to all (49%); improving/increasing the pay of workers (48%); creation of more jobs (48%); protecting the environment (48%); expanding the source of funds (44%); controlling fast population growth (42%); reducing the poverty of many Filipinos (41%); and controlling inflation. (PCOO)
Aquino cites importance of partnership between labor and management for progressive PHL economy
President Benigno S. Aquino III underscored the importance of partnership between labor and management sectors as the country inches its way towards progress and development.
In addressing the various sectors from the labor and management during the launching of the Public-Private Partnership on Labor Governance on Monday at the Heroes Hall of Malacañang Palace, President Aquino cited the true Filipino trait of “bayanihan” that projects cooperation and unity amongst people. He urged them to employ this spirit and show the world that the Filipino people can arrive at mutually acceptable resolutions on certain issues such as those in the labor sector.
“The idea of partnership is alive in this country…that Public-Private Partnership for example, transcends the typical economic relationship and develop bonds that our both successful and trusting. Let us show the world that we are not easily divided by small concerns. Let us show them that inside us still burns the true Filipino spirit of bayanihan… of cooperation, of trust and of communal responsibility,” President Aquino said.
The Chief Executive said that in performing the best effort for respective duties at work, people tend to experience conflict that consequently results to inefficiency and unproductiveness.
“In our efforts the best we can in our respective jobs, there are times when our interest run counter to those of other parties… these are the things from which conflict arises and conflict consequently begets inefficiency and a derailing of work. Work that is vital to our survival, work that we do to sustain ourselves and our loved ones, and ultimately to live fulfilled, dignified lives.” the President said.
During the PPP launch, the National Tripartite Industrial Peace Councils (NTIPCs) presented six resolutions to the President in support of the Aquino government’s 22-Point Labor and Employment Agenda.
The President said that the six resolutions presented to him will further enhance NTIPC’s ability to maintain peace between the labor and management.
Since 1992, the NTIPC has been doing its work to prevent and resolve conflicts between labor and management. It has enhanced the way the labor sector-management interaction creating an avenue through which management and labor could undergo a dialogue and reach mutually acceptable resolutions on certain issues concerning them.
It has prevented work stoppages, including strikes that crippled the nation’s economy as well as court proceedings that needlessly eat up valuable resources.
The President ensured the livelihood of the Filipinos through the investment on human capital. He said that included in his labor agenda are a number of initiatives that will further empower Filipino workers and businesses to become more competitive in the global milieu.
According to the President works are in progress to put forward priority measures that will benefit the workers. Such initiatives include the amendment of the Bill that prohibits women from working at night.
Various labor and management groups also solidified their support for the Labor and Employment Program of President Aquino. Such groups include the Philippine Chamber of Commerce and Industry, Inc. (PCCI), Federation of Filipino-Chinese Chambers of Commerce and Industry (FFCCCI), Employers Confederation of the Philippines (ECOP), Philippine Retailers Association (PRA), Associated Marine Officers’ and Seamen’s Union of the Philippines (AMOSUP) and members of the Joint Foreign Chambers of Commerce, among others. (PCOO)
