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PIA Press Release
2006/10/05

Varela hails Arroyo government for good fiscal policy

By Franklin P. Gumapon

Dipolog City (October 5) -- Philippine Chamber of Commerce and Industry (PCCI) chair lawyer Miguel Varela has lauded the Arroyo administration for having implemented sound fiscal policies resulting in the strengthening of Philippine peso.

This was Varela's statement when asked to comment on the record peso strength during the past days against the dollar in a press conference held in Dapitan City last night.

Varela is here for a two-day Mindanao trade, investment and tourism congress slated today and tomorrow.

More than 150 delegates from the different business chambers all over the island are attending the congress.

Varela said the implementation of new tax laws, specifically the expanded value-added tax (EVAT), has helped the government raise revenues for its social services and infrastructure projects.

In a related development, Varela saw a lot of potentials in Zamboanga del Norte including its twin cities of Dipolog and Dapitan in terms of trade and tourism. "This place is a good destination with a lot of good future," Varela stressed.

According to Varela the PCCI is now embarking on the strengthening of business chambers in the country to promote entrepreneurial spirit among businessmen.

Speakers to the first Mindanao trade, investment and tourism congress include Attorney Miguel Varela, PCCI Chair, Rocky Dimaculangan of TVI Resource Development Philippines, DTI Assistant Secretary Merly M. Cruz, National Meat Inspection Commission Executive Director Ma. Elizabeth D. Callanta, Ms. Ellen Ruth Zeister, Senior Trade Commissioner of the Embassy of Canada, Consul Antonius Bali Prasetya Nugroho of Indonesian Consulate, Commissioner Joji Ilagan-Bian of the Cahrter Change Advocacy Commission, Marlon G. Libot of Growth with Equity in Mindanao (GEM), Presidential Adviser on the Peace Process Secretary Jesus G. Dureza and others. (PIA) [top]

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