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| 29 JANUARY 2008 | . | |
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| 29 JANUARY 2008 | . | |
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| PGMA back from Switzerland and Dubai mission |
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President Gloria Macapagal-Arroyo returned this morning from her successful
seven-day mission in Zurich and Davos, Switzerland, and Dubai in the United
Arab Emirates (UAE) in the Middle East. The President left for Davos via Zurich on Jan. 22 to attend the annual World Economic Forum (WEF) of top business and political leaders; and then passed by the UAE in the Middle East to meet with business leaders and overseas Filipino workers (OFWs) whom she congratulated for being the favored group of contract workers in that oil-rich Middle East country. The Philippines and Dubai had earlier inked in April 2007 a labor agreement which now serves as a “bilateral institutional mechanism” for tackling the concerns of UAE-based OFWs, the President enthused. In her first stop in Zurich, the President addressed the Swiss Chamber of Commerce (SCC) whose members she briefed on the attractive business climate prevailing in the Philippines. She also met with world political and economic leaders, including members of the Philippine International Board of Advisors (IBA) before motoring the following day to the ski capital of Davos to attend the WEF. The Philippine Airlines (PAL) flight PR001 bearing the President and her party taxied to Bay 47 of the Ninoy Aquino International Airport (NAIA) in Pasay City at 8:20 a.m. Dressed in a light brown pantsuit, the President came down the 25-step stairway at 8:25 a.m. to the accompaniment of a marching tune by the Philippine Air Force (PAF) band. The President was met at the bottom of the plane stairway by Armed Forces of the Philippines (AFP) chief of staff Gen. Hermogenes Esperon Jr. whose term of office had just been extended by the President by three months until May 9, 2008. Next to Esperon on the tarmac were officials of the Manila International Airport (MIA) complex; the AFP service commanders, and Philippine National Police (PNP) head Avelino Razon. Together with the AFP chief of staff, the President then passed the colors before going through the 20-member PAF honor guards beyond whom waited Executive Secretary Eduardo Ermita, Justice Secretary Raul Gonzalez and Defense Secretary Gilbert Teodoro, who told media that regardless of birthdate, the Constitution provides that the military chief of staff could serve his term up to a maximum period of three years. Esperon was appointed AFP chief of staff in July 2006, and therefore could serve up to July 2009 at the pleasure of the President, Teodoro explained. |
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| Davos, Dubai trips yielded benefits for RP–PGMA |
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Stressing that global engagement remains a cornerstone of her
administration, President Gloria Macapagal-Arroyo said today her seven-day
trip to Europe and the Middle East was fruitful as it yielded more trade and
investments for the Philippines, boosted the country’s relations with its
development partners as well as ensured the welfare and security of
Filipinos working abroad. The President arrived at 8:30 this morning from Dubai in the Middle East, where she held a series of meetings with top businessmen and interacted with members of the Filipino community in the area to discuss their concerns and brief them on the action being taken by the government to protect their welfare. ''Global engagement remains a cornerstone of our administration in order to ensure our security, advance our economy and promote our social advancement,'' the President said in her opening statement in today's National Economic and Development (NEDA)-Cabinet group meeting at the Aguinaldo State Dining Room in Malacanang. She explained that ''we made progress” in those three goals in her trips abroad. ''The trip has yielded benefits in terms of new trade and investment opportunities, strengthened relations with multilateral agencies and donor agencies who support our development program, better working conditions for our overseas Filipinos, and increased levels of cooperation with countries around the world,'' the President said. She said that her Davos and Dubai trips were important parts of her administration’s policy on global engagement. The President said her attendance at the World Economic Forum (WEF), where she held meetings with businessmen and development partners, boosted her confidence that the world is taking cognizance of the Philippines’ economic turnaround. ''It is clear that the world is taking notice of the success our country has achieved in turning our economy around and in generating some of the highest economic growth levels in a generation,'' the President said. She cited Citicorp, Hong Kong and Shanghai Bank, Credit Suisse, United Bank of Switzerland, Dubai Investment Bank, Dubai World, Dubai Holdings, Abu Dhabi Investment Authority and Qatar Investment Authority as among the financial and business groups that have taken notice of the Philippines’ historic economic growth. The President said because of this international recognition of the Philippines' economic gains, investors now operating in the country have signified their intention to expand their businesses while a number of new business groups have committed to invest in the country. The President also said that her brief visit to Dubai yielded positive results in terms of new investments in the Philippines beginning this year. Among these are the Dubai Ports which has expressed its intention to expand its operations in Manila, Subic in Olongapo and Cebu. The Dubai visit also gave the President the opportunity to look into the welfare of some 300,000 Filipinos working in the United Arab Emirates (UAE) including Dubai. In her meeting with the Filipino community in Dubai, the President said she announced ''measures that are designed to ease the impact of the strong peso on our OFWs no matter where in the world they may be working.'' These measures include a new deposit instrument of the Development Bank of the Philippines (DBP) which is designed to ease the impact of fluctuations in currency rates on OFWs remittances. The Land Bank Card, on the other hand, allows the OFWs to remit money to their families in the Philippines through cellphone at a minimal cost. Another project launched in Dubai was the Tindahang Pinoy that allows OFWs to become entrepreneurs on the side to augment their income. |
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| Moody’s upgrade confirms RP’s sound economic fundamentals, says PGMA |
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President Gloria Macapagal-Arroyo said today Moody’s Investors Service’s
raising of the Philippine credit rating to positive from stable only
confirms what the government had been saying all along that the Philippines
has some of the best economic fundamentals in Asia and that the country
offers the best values in the region for foreign investors. In her opening statement at the National Economic and Development Authority-Cabinet Group meeting this morning in Malacanang, the President said she was informed of the good news while she was in Davos, Switzerland attending the World Economic Forum (WEF). In Davos, the President regaled international business leaders with the progress being made by the Philippine economy, which has turned around for the first time in years. “The fact that the international rating agency Moody’s announced its upgrade of its sovereign credit outlook on the Philippines from stable to positive … only served to confirm what we had already been telling the attendees …that the Philippines has some of the best economic fundamentals in Asia,“ she said. With the international recognition of the strong economic rebound of the Philippines, many investors have confirmed their intention to expand their operations here, while new ones have expressed eagerness to look into the investment possibilities in the country. Moody's Investors Service, in raising its outlook on the Philippine credit rating to positive from stable, cited the government's “easing dependence on external financing, economic conditions and fiscal performance are mutually reinforcing each other." The ratings include long-term government foreign and local-currency ratings, foreign-currency bank deposit ceiling and foreign currency country ceiling. Tom Byrne, Moody’s senior vice president, said in a statement that a stronger Philippine peso and lower domestic interest rates have significantly lowered debt service payments, "freeing budgetary resources for much-needed infrastructure spending, which is helping to resuscitate the long-languishing levels of investment in the country's economy." He said smaller budget deficits and the country's improved external payments position have allowed the government to prepay external public sector debt and to shift budgetary financing to depend less on foreign funding. |
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President Gloria
Macapagal-Arroyo’s
Arrival Statement
on Her
Visits to Switzerland
and the Middle East (Read by the President at the joint National Economic and Development Authority-Cabinet Group Meeting at Malacanang’s Aguinaldo State Dining Room, January 29, 2008) |
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Magandang umaga, mga kababayan, nagagalak akong makabalik at makasama
kayong muli. Global engagement remains a cornerstone of our Administration in order to ensure our security, advance our economy and promote our social advancement. In each area we made progress on our trip to Europe and the Middle East this past week. The trip has yielded benefits in terms of new trade and investment opportunities, strengthened relations with multilateral agencies and donor agencies who support our development program, better working conditions for our overseas Filipinos, and increased levels of cooperation with countries around the world. This trip was an important part of that engagement process. Pinapalakpakan ng mundo ang pagsulong ng ating ekonomiya na pinagpaguran natin. Sabi ng pinuno ng Citicorp, ang pinakamalaking bangko sa Amerika: “Everyone is positive about the Philippines.” Ganoon din ang sabi ng mga pinuno ng Hongkong and Shanghai Bank, Credit Swisse, United Bank of Switzerland, Dubai Investment Authority, Dubai World, Dubai Holdings, Abu Dhabi Investment Authority at Qatar Investment Authority. It is clear that the world is taking notice of the success our country has achieved in turning our economy around and in generating some of the highest economic growth levels in a generation. It is because of that international recognition that a number of current foreign investors told us of their plans to expand their operations in the Philippines and new investors confirmed their intentions to establish operations here. These investment commitments came during our meetings in Switzerland at the World Economic Forum in Davos and at a meeting with members of our International Board of Advisors in Zurich as well as in meetings in Dubai. The fact that the international rating agency Moody’s announced its upgrade of its sovereign credit outlook on the Philippines from stable to positive during our attendance at the World Economic Forum only served to confirm what we had already been telling the attendees at the important event: that the Philippines has some of the best economic fundamentals in Asia and we have created a new business environment that offers one of the best investment destinations in the world. Marami ring bunga ang maikling dalaw natin sa Dubai. In meetings with senior government officials, including the UAE Prime Minister and Ruler of Dubai, Sheikh Mohammad bin Rashed al-Maktoum and leaders in that nation’s business community, we carried our message that no location offers better value for foreign investment than the Philippines. The message was received and there will be new investments from Dubai entering into the Philippines beginning this year. For one, we are happy that Dubai Ports World, which already has a big operation in Manila, expressed its intention to invest in Subic and Cebu as well as in tourism. Isa pang mahalagang layunin ng pagdalaw natin sa Dubai ang paghahatid ng biyaya sa ating mga overseas Filipinos. Mga tatlong daang libo ang Pilipinong nagtatrabaho sa pitong kaharian ng United Arab Emirates, kabilang ang Dubai. We used that session to announce measures that are designed to ease the impact of a strong peso on our overseas Filipinos no matter where in the world they may be working. This includes a new deposit instrument of the Development Bank of the Philippines designed to ease the impact of fluctuations in currency rates on the remittances of overseas Filipinos. Dahil sa paglakas ng piso, iniutos natin na gumawa ng paraang mabawasan ang gastos sa remittance. Inilunsad ang Land Bank Card upang makapag-remit sa cellphone, sa mababang singil. At upang maproteksyonan ang kita ng ating masisipag na overseas Filipinos, may ipinaliwanag ang Land Bank na OFW Bonds na ilulunsad sa Marso. Sa Dubai din inilunsad natin ang Tindahang Pinoy ng Department of Trade and Industry, upang magkaroon ng karagdagang kita ang mga overseas Filipinos. That project will enable overseas Filipinos to earn extra income as franchise holders in the sale of quality Filipino products under the One Town, One Product program in their host countries. Bahagi rin ito ng programa ng Overseas Workers Welfare Administration upang maturuan ang mga overseas Filipinos sa pagne-negosyo bago sila bumalik sa Pilipinas. In conclusion, it was clear that everyone who knows our country agrees that we are in a better position today than ever before to withstand and be resilient when confronted with international economic uncertainty. While we are confident and optimistic about the long term prospects of our economy, we are also cautious about the current state of the world economy. As such, we assured everyone we met abroad, and we say to our people here at home: we are not complacent. We remain vigilant in pursuing economic reform and maintaining our fiscal discipline just as we are working hard at home to mitigate the impact of any economic slowdown on our people. At bagaman pinakamababa sa buong kasaysayan ang bilang ng Pilipinong nagsasabing mahirap sila sa kanilang kinakain, walang tigil pa rin ang ating mga programa kontra sa gutom at kahirapan. Ito ang bahagi ng pagpupulungan ngayon sa Kabinete. Sa ibayong dagat man o dito sa ating bayan, walang tigil ang pagsisikap natin para sa magandang buhay at kinabukasan ng buong sambayanan. Maraming salamat. |
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| PGMA okays proposal to lighten impact on Flipinos of U.S. economic slowdown |
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President Gloria Macapagal-Arroyo has approved the proposal of Albay Gov.
Joey Salceda for government to come up with an economic package that would
prevent the country from losing its growth momentum as well as mitigate the
impact on the people of the imminent slowing down of the US economy In his message to the President, Salceda said: ”With storm signals already raised, the Philippines cannot just fidget and watch it coming out of fear of backlash from credit markets.” The President thumbed up Salceda’s P75–billion economic stimulus proposal that stands to shield the Philippines from the global fallout during the National Economic and Development Authority (NEDA)-Cabinet Group meeting in Malacanang, held immediately after her arrival this morning from a fruitful seven-day trip to Switzerland and the Middle East. The economic stimulus package, which Salceda described as “a national imperative,” includes income tax relief, discounts on electricity bills, a boost in infrastructure and agriculture spending and enhanced social investments. At the same time, the President ordered agencies concerned to “look for money to fund the package.” “We must implement the economic equivalent of preemptive evacuation which has been proven to achieve a zero casualty during disasters,” said Salceda, the President’s economic adviser and the main architect of the Arroyo administration’s fiscal reform package four years ago. Salceda said the threat posed by the US recession to the Philippines would be “loss of momentum which would negatively impact on our revenue base if we do nothing.” “A short-term, one-shot economic stimulus is critical in defending against the loss of momentum,” he said. Salceda proposed a P16-billion expansion in income tax deductions to benefit the middle-class working families; an P8-billion rebate to households consuming less than 200 kilowatt hours of electricity per month; a P51-billion increase in government spending this year, that includes P15 billion for increased agriculture production, P16 billion for infrastructure spread out as follows: P12 billion for education, P4 billion to increase PhilHealth membership to five million and P4 billion for mass housing. |
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| PGMA: Gov’t will remain vigilant in face of uncertainties in global economy |
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President Gloria Macapagal-Arroyo said today that despite the country’s
economic strides, the government will remain alert and vigilant to the
uncertainties roiling the global economy. Her administration, she added, will not be complacent as it girds to soften the impact of adverse global developments on the country’s economy. In her opening statement at the National Economic and Development Authority (NEDA)-Cabinet Group meeting this morning in Malacanang, the President underscored the urgency of sustaining the country’s economic growth. The President convened the meeting barely an hour after her arrival at the Ninoy Aquino International Airport (NAIA) at past 8 o’clock this morning from Dubai, where she wooed international business leaders to take advantage of the bright investment possibilities in the Philippines. "It's clear that everyone who knows our country agrees that we are in a better position today than ever to withstand and be resilient when confronted with international economic uncertainty," she said. While expressing confidence and optimism about the long-term progress of the Philippine economy, the President said, "We are also cautious about the current state of the world economy." "As such, we assured everyone we met abroad and we say to our people here at home, we are not complacent. We remain vigilant in pursuing economic reforms and maintaining our fiscal discipline just as we're working hard at home to mitigate the impact of any economic slowdown on our people," she said. The President said the first business upon her arrival was to convene the Cabinet to discuss priority programs, notably the government’s anti-poverty and anti-hunger programs. The anti-poverty and anti-hunger programs have won a measure of success based on a survey which showed a downtrend in the number of people who rated themselves as poor. “Be it overseas or here at home, we will not stop our efforts to uplift the lives of the people, especially the poor,” the President said. |
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| PGMA orders development of DMIA as RP’s premier airport |
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President Gloria Macapagal–Arroyo ordered today the development of the
Diosdado Macapagal International Airport (DMIA) at the Clark Freeport Zone
in Pampanga as the country’s premier airport and the eventual closing down
of the Ninoy Aquino International Airport I. The President issued the directive to concerned agencies led by the Department of Transportation and Communications during the National Economic and Development Authority (NEDA)-Cabinet Group meeting this morning in Malacanang. The President gave a timeframe of six months up to one year to turn the DMIA into the country’s premier airport. The move would further support the President’s vision of Clark and Subic as the country’s logistics hub in the Asia-Pacific region and the new international gateways of the country. The DMIA is one of the biggest aviation complexes in Asia with its two 3.2-kilometer parallel runways that will be extended to four kilometers to accommodate new generation wide-bodied aircraft. The DMIA is certified by the International Civil Aviation Organization (ICAO) with ratings of Category I for Precision Approach Runway and Category IX for the Emergency Services. It is well equipped with Instrument Landing System, Navigational Aids, Meteorological Equipment, and Complete Airfield Lighting System. |
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| PGMA moves to intensify programs to alleviate hunger even as poverty rate has declined by 10% |
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President Gloria Macapagal-Arroyo committed today her administration’s
relentless quest for programs that would further alleviate hunger and
poverty in the country even as the least number of Filipinos have rated
themselves as food-poor in the latest survey of the Social Weather Stations
(SWS). In her statement before the start of the regular Tuesday Cabinet meeting which she presided immediately upon her arrival from her seven-day diplomatic mission and investment roadshow in Switzerland and Dubai, United Arab Emirates, President Arroyo stressed, thus: "Bagaman pinakamababa sa buong kasaysayan ang bilang ng Pilipinong nagsasabing mahirap sila sa kanilang kinakain, walang tigil pa rin ang ating mga programa kontra sa gutom at kahirapan.” “Ito ang bahagi ng pagpupulungan ngayon sa Kabinete. Sa ibayong dagat man o dito sa ating bayan, walang tigil ang pagsisikap natin para sa magandang buhay at kinabukasan ng buong sambayanan,” added the Chief Executive. The SWS’s Fourth Quarter 2007 survey which was fielded over a five-day period from Nov. 30 to Dec. 3 found that only 34 percent or about 6.1 million Filipino families consider themselves “mahirap” or poor in terms of food. The latest figure is lower than the September 2007 results with 7.5 million or 43 percent of Filipino households who claimed that they are poor based on the food they eat. “The latest score of 34 percent is a record low since (the) 35 percent (recorded) in June 2004,” revealed the SWS which has been conducting SWS Self-Rated Food Poverty since 1988. The said SWS surveys “have been asking household heads to rate their families based on the type of food they eat by pointing to a card with the words MAHIRAP or POOR on one side, DI-MAHIRAP or NOT POOR on the opposite side, and a line in between.” “The December 2007 survey found that 32 percent of Filipino families put themselves on the Food Borderline, and 34 percent consider themselves as Not Food-Poor,” added the SWS which revealed that “Self-Rated Food Poverty has been on a downward trend since June 2006, reaching 37 percent in June 2007…” The record decline was “due to the 20-point decrease in Mindanao, from 59 percent in September to 39 percent in December,” the SWS said. “Self-Rated Poverty also declined in Balance Luzon, from 41 percent to 35 percent; and in Metro Manila, from 33 percent to 28 percent,” added the SWS. The latest SWS survey used face-to-face interviews with 1,200 adults divided into random samples of 300 each in Metro Manila, the Balance of Luzon, Visayas, and Mindanao, with the area estimates weighed by the National Statistics Office (NSO) medium-population projections for 2007 to obtain the national estimates, according to the SWS. The SWS stressed that such surveys are “non-commissioned and are always included in SWS’s own initiative and released as a public service.” |
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