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PIA Press Release

Arroyo pledges ‘political will’ to keep economy on track

Quezon City (6 October) -- PRESIDENT Gloria Macapagal-Arroyo pledged to summon the political will to keep the economy on track and provide a more business-friendly environment as she signed a string of memorandum orders to enhance the country's business competitiveness, including lowering power costs.

"On the part of the government, we pledge the political will to keep our economy on track, our budget on plan, and our government focused on becoming more business-friendly," she said in a speech at the National Competitiveness Summit in Malacañang.

Arroyo also hoped Congress would complement her executive action to improve the business climate in the country by passing needed legislation.

"On the part of the legislature, let's all hope they can pledge the same unwavering support to pass the necessary legislation," she said.

"The private sector creates the jobs; you are the engine of economic growth. Our job in government is to help invest in the people and institutions of government, to give our citizens the tools they need to compete and win in the global economy," Arroyo said.

Arroyo said she signed an executive order creating a task force on Philippine competitiveness to see to it the measures adopted in the summit are implemented and announced the issuance of various memorandum orders to improve quality management, enhance the subjects of Science, Math, and English in schools, and for the Department of Energy to lower electricity costs.

The orders were based on the recommendations passed by the summit.

Ahead of her speech, Trade undersecretary Thomas Aquino presented the recommendations on the six sources of competitiveness -- competitive human resources, effective public and private sector management, efficient access to financing, improved transaction flows and costs, seamless infrastructure network, and energy cost-competitiveness and self sufficiency. (PIA) [top]

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