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PIA Press Release
2007/09/29

US-ASEAN Business Council commends PGMA's leadership

NEW YORK CITY (via PLDT) (29 September) -- Top American business executives have commended President Gloria Macapagal-Arroyo for her leadership, especially her guidance of the strong Philippine economy "built upon sound and fiscal and monetary policies."

In a press statement, the US-Association of Southeast Asian Nations (ASEAN) Business Council, whose members include the Fortune 1000 companies, noted that the Philippines "has the fastest yearly progress in economy, smallest increase in prices, and the most number of new jobs created in the last 20 years."

President Arroyo had a luncheon meeting with the US-ASEAN Business Council at the Norse Suite on the 18th Floor of the Waldorf Astoria Hotel Thursday (Sept. 27, New York time).

The event was attended by approximately 20 leaders of American companies such as Abbott Laboratories, AES, AIG, Altria, Cocoa-Cola Company, Ford Motor Company, InterGen, Pfizer, and Time Warner.

The US-ASEAN business leaders, led by Matthew Daley, president of the council said their members discussed their business interests and how these would jibe with the Arroyo administration's development plans in the country's super regions.

The Philippines has been divided into five super regions as announced by the President during her 2006 State-of-the-Nation Address (SONA). The super regions are: North Luzon Agribusiness Quadrangle; Luzon Urban Beltway, Central Philippines, Mindanao, and the Cyber Corridor.

Before meeting with the American business group, the President said the Philippines belongs to a "fast-growing region, and we have to stay competitive within the fast-growing region."

She told the Philippine media delegation covering her Sept. 26-28 visit to New York that "I will share with them (the American business executives) the billions of dollars in investments coming in, which is testimony to our competitiveness."

Based in Washington, D.C., the US-ASEAN Business Council and its affiliates "are dedicated to strengthening US-ASEAN bilateral relations, and building strong economic and commercial ties."

"Members of the Council include Fortune 1000 companies in support of promoting trade, investment, and technology cooperation, advancing US-ASEAN relations through strong participation in public-private partnerships, and committing to development and corporate social responsibility," the US-ASEAN Business Council said.

According to the council, its members are "represented in diverse industries, including aerospace, agribusiness, automobiles, computers and information technology, consumer goods, energy exploration and development, express delivery services, financial services, health care and pharmaceuticals, media and entertainment, mining, software, and telecommunications."

The President flew to New York on Tuesday night to attend the 62nd session of the United Nations General Assembly, the Clinton Global Initiative (CGI) Forum, and the Third Meeting of the Women Leaders' Working Group. (OPS) [top]

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