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PIA Press Release
2007/09/25

PGMA graces Iligan business forum

Iligan City (25 September) -- "We celebrate St. Michael's Feast Day with the good news that our economy has reached a new level of maturity and stability with some of the strongest macroeconomic fundamentals in 20 years," said President Gloria Macapagal-Arroyo during the recently concluded Business Forum at the Maria Cristina Hotel in Iligan City.

The President, who spent part of her childhood days in the City, said the country is on a path to permanent economic growth and stability, adding that the world is taking notice that the Philippines is one of the best values in Asia for domestic and foreign investors.

President Arroyo emphasized that her administration is now consolidating long overdue human and physical infrastructure, including the Iligan-Bukidnon road, with a budget of P1-billion, set to be completed by the year 2012.

She said that a P50-million budget was recently released for the project and another P50-million from 2008 budget was allocated to the City for the Iligan Circumferential Road (C-3) which is one of the City's vital road systems projects.

"The Department of Public Works and Highways (DPWH) has already prepared the feasibility study on this project," the Chief executive added.

During the event, a joint resolution on the issues and concerns of the business communities in the area was presented to the President, as well as a joint resolution supporting her economic programs. (PIA-Lanao del Norte) [top]

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