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Tuesday, February 18, 2014

PNoy Says: Philippines Sick Man of Asia No More

PNoy speaking at the 3rd Euromoney Philippine Investment Forum. Pres. Aquino on Tuesday said consistent economic growth over the years has moved the Philippines development forward so that it's label "Sick Man of Asia" is now just a distant memory. PNoy speaking at Euromoney Philippines Investment Forum 2014, said the recent investment grade status and increasing economic and financial rankings proved that the world economy is recognizing the full potential of the Philippines as an emerging country. He specifically mentioned a 2013 survey by the Japan External Trade Organization which showed the Philippines as 2nd most profitable among ASEAN-5 countries, next to Thailand. He said this report is impressive considering the country is at dead last in 2010. In the World Economic Forum's Global Competitiveness Rankings the Philippines is now at 59th Place or 26 spots higher since he step into office in 2010 he said. The country has also recorded a marked improvement in the World Bank and International Finance Corporation's Ease of Doing Business Report after it moved 30 places in a single year. But aside from the increasing confidence of investors in the country's economy PNoy noted the increasing morale of Pilipinos in his government. He flaunted that his administration is doing it's job more than what it promised thus resulting in Pilipino's trust on his government and administration. He set the Dept. of Education as an example which he said promises to address the 66,800 classroom shortages at the end of 2013 and was fulfilled and even exceeded their expectations.      
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