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| 27 JANUARY 2008 | . | |
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| 27 JANUARY 2008 | . | |
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| RP takes lead in efforts to protect Coral Triangle's marine diversity |
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DAVOS, Switzerland (via PLDT) - The Philippines is taking the lead in
protecting the Coral Triangle, the world's richest source of marine
biological diversity, from environmental destruction. The Philippines, the eighth largest fish producer in the world, lies in the center of the Coral Triangle bordered by Indonesia, Malaysia, Papua New Guinea, Timor-Leste, and the Solomon islands. During coffee with the Philippine media, the President said administration will host a forum to save the Coral Triangle during the Association of Southeast Asian Nations (Asean) Senior Official's Meeting (SOM) in May this year. The Coral Triangle holds not only the richest source of marine biological diversity, but also directly sustains more than 120 million people living within the area, and supports the livelihood and food security of millions worldwide. Marine experts have warned that unsound practices such as over-fishing and illegal fishing methods, pollution, development and tourism-related activities, and the burgeoning seafood markets have placed the Coral Triangle in peril. The President said the Coral Triangle is a tuna spawning ground that supplies the big demand of top consumer countries such as Japan, China, United States, European Union and Australia. During the high-level plenary session of the World Economic Forum on the role of Asean in an emerging Asia in Davos, Switzerland, the President said the world must be more conscious in protecting the Coral Triangle because it is "the world's epicenter of marine life abundance." Last November, the Philippines proposed the creation of a high-level council composed of leaders from the Southeast Asian nations and states bordered by the Coral Triangle to save it from further ecological degradation. The first formal planning meeting of the Coral Triangle initiative was held in Bali last December. |
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| PGMA arrives in Dubai from Switzerland |
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DUBAI (via PLDT) -- President Gloria Macapagal-Arroyo arrived here at 10
p.m. Saturday (Manila time), two hours ahead of schedule, at the end of a
successful four-day visit to Switzerland highlighted by her participation in
the 2008 World Economic Forum (WEF) in Davos. Speaking to reporters on the eve of her departure from Switzerland, the President described her meetings with the world's business and political leaders as a very beneficial experience, particularly with the current uncertainties roiling the global economy. "This week's global economic uncertainties underscore that business and government leaders around the world must all collaborate more closely. Once again, being in Davos with world business, economic and political leaders at this critical juncture has been a very helpful experience," she said. In her meetings in Davos, the President underscored the good news that investors are now taking note of investment potentials in the Philippines which has achieved 27 consecutive quarters of economic growth, topped off by over 7 percent growth in 2007. "Our stock market is up, seven million jobs have been created in seven years, and our currency is one of the strongest in Asia. Investments are surging and many new companies are investing in us -- we are one of the best values in Asia right now," she pointed out. The Philippines’ booming economy, the President said, would help cushion the effect of any economic uncertainty and raise more opportunities that would help close the income inequality in the country. "I am cautiously optimistic that we have worked to manage our economy so that we weather any storm in the near term and am bullish about our long term economic prognosis," the President said. The President’s visit here is an extension of her Davos trip to bring in more investments to the Philippines. |
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| Statement of Secretary Ignacio R. Bunye: WEF, Dubai wrap up |
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The Philippine economy benefits significantly from the active role our
nation and our people play in the global economy. In addition, our security
interests are well-served by the engagement we have with governments in our
region and around the world during the World Economic Forum sessions and in
informal dialogues outside those meetings. The investment made by the President's participation in the World Economic Forum will deliver benefits in terms of new trade and investment opportunities, increased development assistance and increased role for our country in international economic and political affairs and that is also why she is in Dubai meeting with government and business leaders and our overseas Filipino workers (OFWs). Global engagement is a fact of life for the Philippines and our goal is to make certain we maximize the benefits of that process. |
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| Statement of the President: On the demise of former Indonesian President |
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The Government of the Philippines and the Filipino people join me in
offering deepest sympathies and condolences on the demise of former
President Soeharto. Generations of Filipinos and Southeast Asians will remember President Soeharto for his key role in regional community building and for his contributions to consolidating the gains of peacebuilding in Mindanao. As one of the founding fathers of ASEAN, President Soeharto was among those who had the pioneering vision of establishing a more peaceful, progressive and prosperous Southeast Asian region founded on respect and understanding. With ASEAN taking the historic step towards full integration with the signing of the ASEAN Charter, we remember those - especially former President Soeharto - who have helped lay the firm ground upon which ASEAN is built on. The Philippines is likewise grateful to former President Soeharto for his commitment to achieving just and lasting peace in Mindanao. With the assistance of President Soeharto, stakeholders were drawn together to conclude the historic peace pact between the Government of the Philippines and the Moro National Liberation Front. To this day, we are working to further deepen the roots of peace in the Southern Philippines as we continue to reap the benefits of peace-building’s fruits. For these enduring legacies, President Soeharto will never be forgotten. |
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| Speech of President Gloria Macapagal-Arroyo before Dubai business leaders |
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*I WANT TO THANK EACH OF YOU FOR TAKING TIME OUT OF YOUR
VERY BUSY SCHEDULES TO JOIN US. * AN AGGRESSIVE FOREIGN POLICY IS ESSENTIAL TO THE LIFEBLOOD OF THE PHILIPPINES. I AM HERE TO MEET WITH INVESTORS WHO HAVE EXPRESSED WILLINGNESS IN INVESTING IN THE PHILIPPINES. *THIS WEEK’S GLOBAL ECONOMIC UNCERTAINTIES UNDERSCORE THAT BUSINESS AND GOVERNMENT LEADERS AROUND THE WORLD MUST ALL COLLABORATE MORE CLOSELY. BEING IN DUBAI WITH THE BUSINESS, ECONOMIC AND POLITICAL LEADERS AT THIS CRITICAL JUNCTURE IS VERY HELPFUL, GIVEN YOUR RAPID RISE IN THE WORLD OF FINANCE AND ECONOMICS. * YOUR SKYSCRAPERS AND GLEAMING OFFICE BLOCKS ATTEST THAT YOUR DEVELOPMENT HAS BEEN WELL MANAGED, DEMONSTRATING THAT THE WEALTH OF A NATION, IF WELL HANDLED AND CHANNELED CAN CHANGE LANDSCAPES FOR BEST. * THE WORLD’S TALLEST BUILDINGS, THE WORLD’S LARGEST MAN-MADE ISLANDS, THE WORLD’S MOST LUXURIOUS HOTELS, SHOPPING MALLS AND ‘THE WORLD’ ARE BUT A FEW OF THESE AS EXAMPLES. * EMIRATES IS FEARLESS OF THE GLOBAL ECONOMY. * FURTHER ECONOMIC INTEGRATION AMONG ASIAN NATIONS IS IMPERATIVE IF WE, AS A REGION, ARE TO TAKE ADVANTAGE OF THE EXPANDING GLOBAL TRADE AND ECONOMIC OPPORTUNITIES AND FACE THE CHALLENGES OF THE GLOBAL ECONOMY. * THE PHILIPPINES IMPORTS FROM THE UAE PETROLEUM OILS, BUTANE, PROPANE, ALUMINUM ALLOYS AND UREA. *WE ENCOURAGE THE EMIRATES TO CONSIDER PURCHASING FROM THE PHILIPPINES GARMENTS, CONSUMER ELECTRONICS, FOOTWEAR, BEAUTY OR MAKE-UP ACCESSORIES, AUTOMOTIVE PARTS AND ACCESSORIES, AIR-CONDITIONING MACHINES AS WELL AS FURNITURE. * THE PHILIPPINE ECONOMY HAS REACHED A NEW LEVEL OF MATURITY AND STABILITY WITH SOME OF THE STRONGEST MACRO-ECONOMIC FUNDAMENTALS IN A GENERATION. WE HAVE AIMED HIGH AND WE HAVE MET THE CHALLENGE: SEVEN YEARS AGO, NO ONE THOUGHT WE COULD GET MORE REVENUES, CRACK DOWN ON TAX CHEATS AND SMUGGLERS, STRENGTHEN THE PESO AND MOVE THE STOCK MARKET. AND NO ONE THOUGHT WE COULD BRING OUR BUDGET CLOSE TO BALANCE, LOWER OUR NATIONAL DEBT AND RAISE EMPLOYMENT, BUT WE HAVE. * THE SINGLE BIGGEST ACT THAT LED TO THE SURGE IN OUR ECONOMY WAS THE PASSAGE OF OUR VALUE ADDED TAX WHICH IN ONE BOLD STROKE, RAISED ENORMOUS AMOUNTS OF NEW REVENUE. THAT ACT ALSO SENT AN UNMISTAKABLE SIGNAL THAT WE ARE SERIOUS ABOUT MOVING THE NATION FORWARD. THAT ISN’T ALL, THOUGH. OUR COMPLETE FOCUS ON THE ECONOMY, FISCAL DISCIPLINE, A BALANCED BUDGET AND THE NEED FOR LONG OVERDUE HUMAN AND PHYSICAL INFRASTRUCTURE IMPROVEMENTS HELP ROUND OUT OUR ECONOMIC GAINS. * OUR EFFORTS ARE PAYING OFF. * TODAY THE PHILIPPINES IS ON A PATH TO PERMANENT GROWTH AND STABILITY. INVESTMENTS ARE POURING IN, THE PESO IS STRONG, OUR STOCK MARKET HAS REACHED HISTORIC HEIGHTS, AND WE HAVE CREATED SEVEN MILLION JOBS IN SEVEN YEARS. * THE PESO HAS HELPED OFFSET THE IMPACT OF THE RISING COST OF OIL AND HAS CONTRIBUTED TO LOWERING THE PRICE OF IMPORTS AND IN THE PROCESS, INFLATION. * OUR UNEMPLOYMENT RATE AND POVERTY RATE ARE THE LOWEST IN A GENERATION. * BY CONTINUING ON OUR PATH OF ECONOMIC REFORM, WE WILL BE ABLE TO SUSTAIN THIS MOMENTUM. * THE PHILIPPINES OFFERS ONE OF THE BEST VALUES IN ASIA FOR DOMESTIC AND FOREIGN INVESTORS TODAY. * WE OFFER A STRATEGIC LOCATION IN A FAST-GROWING REGION, OUR WORKFORCE IS WELL EDUCATED, PRODUCTIVE AND ENGLISH SPEAKING. WE ARE CUTTING RED TAPE TO SIMPLIFY THE INVESTMENTS FOR INVESTING IN THE PHILIPPINES. * WE OFFER EXCELLENT OPPORTUNITIES IN A RANGE OF SECTORS, PARTICULARLY MINING, TECHNOLOGY, ENERGY, VARIOUS FORMS OF TOURISM INCLUDING MEDICAL AND ECO-TOURISM, BIO FUELS, INFRASTRUCTURE, AND BUSINESS PROCESS OUTSOURCING. * THE PHILIPPINES IS RANKED AMONG THE MOST ATTRACTIVE OFF-SHORING DESTINATIONS IN THE WORLD BECAUSE OF COST-COMPETITIVENESS AND MORE IMPORTANTLY THE COUNTRY’S HIGHLY TRAINABLE, ENGLISH-PROFICIENT, IT-ENABLED QUALITY MANPOWER. * WE ARE CERTAINLY A LEADER IN THE OUTSOURCING SPACE, BUT WE CANNOT UNDERESTIMATE THE CONTRIBUTION OF OTHER HIGH GROWTH SECTORS TO OUR ECONOMY, FOR INSTANCE MANUFACTURING, TECHNOLOGY, MINING, ENERGY, TOURISM AND INFRASTRUCTURE. * OUR REFORMS ARE SUCCEEDING IN ATTRACTING MORE FOREIGN INVESTMENT. THESE INDUSTRIES WILL CONTINUE TO GROW AS DRIVERS OF THE ECONOMY. BILLION DOLLAR PLUS INVESTMENTS BY VARIOUS INTERNATIONAL COMPANIES INCLUDING TEXAS INSTRUMENTS, HANJIN, MARUBENI AND MITTAL GLOBAL ARE VALIDATIONS THAT OUR STRATEGY IS WORKING. * TEXAS INSTRUMENTS CHOICE OF THE PHILIPPINES OVER OTHER DESTINATIONS INCLUDING CHINA FOR ITS $1.6 BILLION WAFER FABRICATION. THE SURGE IN INVESTMENTS HAS ALSO BEEN ANCHORED BY THE TWO NEW SHIPYARDS OF KOREA’S HANJIN COSTING $3.7 BILLION AND MAKING US THE FOURTH BIGGEST SHIPBUILDER IN THE WORLD; MARUBENI, TOKYO ELECTRIC AND AMERICA’S AES HAVE ALSO INVESTED IN THE POWER SECTOR IN THE PHILIPPINES FOR SOME $6 BILLION; AND GLOBAL MITTAL HAS ANNOUNCED PLANS TO PUT UP A $1.6 BILLION INTEGRATED STEEL MILL IN MINDANAO. * OUR EFFORTS TO RAISE INVESTOR CONFIDENCE THROUGH REFORMS AND INVESTMENTS IN INFRASTRUCTURE TO IMPROVE THE BUSINESS ENVIRONMENT ARE BEARING FRUIT. BUSINESS CONFIDENCE IN THE PHILIPPINES HAS BEEN BOLSTERED ACCORDING TO A RECENT SURVEY CONDUCTED BY THE GLOBAL AUDIT AND ACCOUNTING FIRM GRANT THORNTON INTERNATIONAL, WHICH SHOWED THE PHILIPPINE BUSINESSES WERE THE MOST OPTIMISTIC AND BULLISH ABOUT THEIR PROSPECTS IN 2008. * WE HAVE HAD PLENTY OF INTEREST AND INVESTMENT IN THE MINING BUSINESS. MINING IS A KEY DRIVER OF OUR ECONOMY AND AN IMPORTANT SECTOR THAT IS BRINGING IN SIGNIFICANT LEVELS OF INVESTMENT, CREATING JOBS FOR THE PEOPLE AND SPURRING EXPORTS. IN 2007 ALONE, INVESTMENTS GREW MORE THAN IN THE PREVIOUS THREE YEARS COMBINED. * OUT STRONGEST COMPETITIVE ADVANTAGE – OUR PEOPLE – IS ALSO OPENING DOORS FOR US IN MEDICAL TOURISM. THE PHILIPPINES IS RECOGNIZED INTERNATIONALLY FOR THE UNIQUELY FILIPINO BRAND OF HOSPITALITY, CARE AND COMPASSION THAT MAKES US A COMPETITIVE PLAYER IN THIS SECTOR. * THE GLOBAL ECONOMIC SITUATION IS CLEARLY A PRIME ISSUE FOR US BECAUSE THE MORE INTERCONNECTED WE BECOME, THE MORE WE NEED TO MANAGE THROUGH THE UPS AND DOWNS OF OTHER NATION’S ECONOMIC BUBBLES. THIS IS CERTAINLY TRUE SHOULD THE U.S. ECONOMY EXPERIENCE MORE VOLATILITY. * CLEARLY THERE WILL BE SOME IMPACT OF THE U.S. UNCERTAINTY ON ALL COUNTRIES BECAUSE OF THE GLOBAL SIGNIFICANCE FOR THE U.S. ECONOMY. HOWEVER, WHILE A SLOWDOWN IN THE U.S. ECONOMY COULD DAMPEN THE GROWTH OF EMERGING MARKETS, WE ARE CONFIDENT THAT THE PHILIPPINES WILL WITHSTAND MOST OF THE ADVERSE ASPECTS OF SUCH A DEVELOPMENT LARGELY BECAUSE OF OUR IMPROVING ECONOMIC FUNDAMENTALS. * MOODY’S UPGRADED THE PHILIPPINES TO POSITIVE THIS WEEK FOR VERY GOOD REASONS: WE HAVE THE FASTEST GROWTH IN A GENERATION - 7% FOR 2007. IT WAS ALSO A FASTER GROWTH THAN OUR NEIGHBORS. * THE GOOD NEWS FOR THE PHILIPPINES IS THAT WE HAVE MATURED AND DIVERSIFIED OUR ECONOMY SO MUCH THE LAST FEW YEARS THAT WE ARE CONFIDENT THAT OUR ECONOMIC TURNAROUND IS PERMANENT AND OUR ECONOMY RESILIENT TO MAJOR ECONOMIC DISRUPTIONS. * WE HAVE ONE OF THE BEST CENTRAL BANKS IN THE WORLD. IT HAS ABLY NAVIGATED OUR MONETARY POLICY AND IT HAS BEEN A HUGE ASSET TO OUR ECONOMIC REFORM AGENDA. WE TRUST THE CENTRAL BANK TEAM, WHO OPERATE INDEPENDENTLY, TO CONTINUE TO MANAGE OUR MACRO-ECONOMIC FUNDAMENTALS DURING A TIME OF HIGH OIL PRICES AND CONTINUED ECONOMIC VOLATILITY. * THE SHORT ANSWER TO CONTINUING THE ECONOMIC GROWTH IS SUMMED IN THREE WORDS: INVEST, INVEST, INVEST. WE MUST FOLLOW UP THE PAIN OF TAX RAISING MEASURES WITH THE GAIN THAT ONLY COMES FROM SIGNIFICANT INVESTMENT IN PEOPLE AND PROJECTS. ONLY THEN WILL WE TRULY ENSURE THAT PROGRESS CANNOT BE REVERSED. * OUR AIM IN THE REMAINDER OF MY TERM AS PRESIDENT IS TO MAKE OUR ECONOMIC REFORMS PERMANENT SO THAT OUR NATION IS ON A SUSTAINED PATH OF ECONOMIC GROWTH AND STABILITY. WE HAVE TURNED THE ECONOMY AROUND. FOR THE FIRST TIME IN A GENERATION, WE ARE INVESTING HUNDREDS OF BILLIONS IN HUMAN AND PHYSICAL INFRASTRUCTURE. ROADS, BRIDGES AND AIRPORTS AS WELL AS NEW SCHOOLS AND SCHOLARSHIPS ARE THE CENTRAL BUILDING BLOCKS THAT ARE NECESSARY FOR THE LONG TERM PROSPECTS OF OUR CITIZENS. * BUT OF COURSE I AM MOST INTERESTED IN YOUR INVESTING IN THE PHILIPPINES. WE ARE A GOOD BUSINESS ENVIRONMENT GETTING EVEN BETTER. THANK YOU. |
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| PGMA invites Dubai businessmen to invest in RP |
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DUBAI -- President Gloria Macapagal-Arroyo invited Sunday
(Manila time) international businessmen to invest in the Philippines which,
she said, offers one of the best values in Asia for domestic and foreign
investments. The President made the pitch during the joint luncheon forum hosted by the Dubai Chamber of Commerce and the Philippine Business delegation headed by Ayala Corporation, International Container Terminal Services Inc. and Aboitiz Power Corporation. "Today, I am interested in getting your investment to the Philippines. The Philippines offers one of the best values for investment in Asia," she said. The President told the Dubai businessmen of the IT-proficient, English-speaking Filipino workforce and the Philippines' strategic location as an ideal hub for international business operations in Southeast Asia. She said the Philippines offers numerous opportunities for products such as garments, furniture, fashion accessories, and dried fruit products, among others. The President said that marketing the Philippines comes more important at this time of current global economic uncertainties. |
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| Dubai World to hike investments in RP |
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DUBAI -- President Gloria Macapagal-Arroyo announced
Sunday (Manila time) that Dubai World, one of the biggest business
conglomerates in the world, will invest in a resort facility in the
Philippines to take advantage of the country’s booming tourism industry. Dubai World’s subsidiary, DP World, will also open up another port operation in Cebu on top of its current operations in Manila. "Dubai World has come to the Philippines. They are coming to our ports. It is one of the biggest taxpayers in Manila," she said. Dubai World's hotel and leisure arm, Kerzner, will be joining soon other international resort and tourism investors operating in the Philippines like Marriot, Banyan Tree, Hyatt, Raffles of Singapore. DP World, the terminal and port handling subsidiary of Dubai World, is already operating in Manila and is one of the city’s biggest taxpayers. Trade and Industry Secretary Peter Favila said DP World will be sending its team to the country soon. |
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| Another Dubai World subsidiary sets investment in Zambales |
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DUBAI - JAFRA International, a wholly owned subsidiary of
Dubai World, will development a 42-hectare property in the Subic Bay
Metropolitan Authority (SBMA) area in Zambales. President Gloria Macapagal-Arroyo was presented a copy of the Memorandum of Understanding (MOU) between JAFZA and SBMA during her tour of the JAFZA offices here. During her visit to JAFRA’s headquarters, the President was briefed about the business profile of Dubai World by vice chair Jamal Majid Bin Thaniah. Out of the company’s 30,000 workforce, 6,000 are Filipinos. Press Secretary Ignacio R. Bunye said the MOU will further enhance trade, investments and other commercial relations of the Philippines with other countries through the JAFZA network. JAFZA Executive Vice President Noel W. Gulliver said the MOU calls for a comprehensive planning and development of the 42-hectare property inside the SBMA free zone. He added that JAFZA will help inject new ideas and provide impetus to fuel expansion in the Subic free trade zone. "We will also help out in the marketing and promote to locators the setting up of shops inside the SBMA," said Gulliver. Bunye said the MOU was signed Sunday in time for the President’s tour of the Jebel Ali Free Trade Zone. |
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