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PIA Press Release

RP relatively in good shape amid sweeping economic storm -- PGMA

Manila (5 November) -- Many countries may be experiencing the painful economic blow dealt by the global financial storm, but luckily for the Philippines, it is "relatively in good shape," President Gloria Macapagal-Arroyo said.

She said the 1st Laguna Investment and Business Expo is a testament to the country's relatively good position amidst the current global economic turmoil.

The five-day Expo shows off Laguna's potential as an investment haven and a showcase of a "vibrant private-public sector partnership."

"Held amidst the global economic storm, it (Expo) also demonstrates that the Philippines is in a relatively good shape, especially Laguna," the President said.

"This expo makes me optimistic about our future and the hope, optimism and resilience of the people of Laguna," she added.

The President cited the province, a fast-developing industrial zone south of Manila, for "playing such an important role in our country's economy."

"Laguna has carved out a name as the industrial area with perhaps the widest array of investment venues in what we call the Luzon Urban Beltway," she said.

Laguna's economy, especially along the western part of the province, has grown by leaps and bounds in the last decade.

Laguna Gov. Teresita Lazaro said its strategic position in the growth passageway of CALABARZON (Calamba, Laguna, Batangas, Rizal and Quezon) has benefited the Laguna immeasurably in terms of vital infrastructure projects and social services of the national government.

A growing number of light and medium industries have chosen Laguna as their base of operation.

The President noted that aside from being in the Urban Beltway Super Region, Laguna is also a part of the Cyber Corridor Super Region, which is a leading investment area for information and communication technology investments. (PIA-MMIO) [top]

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