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PIA Press Release
2007/03/22

Commentary: RP as next best foreign investment destination

by T. Villavert

Iloilo City (22 March) -- Optimism for the Philippines as the next best foreign investment destination in Asia can be gleaned through the string of investments being pledged, ongoing construction or entering the final stages of completion, are evidence of renewed investor confidence in the country.

The positive economic trend, according to Press Secretary Ignacio Bunyea can be attributed to President Arroyo’s “strong political will to push for what is right, however unpopular”. The President’s tough economic reform measures have finally paid off with the favorable outlook of foreign investors toward the country.

Optimism for the economy and the country remains on high gear with the public and private sector’s strong cooperation and consistent unity on all fronts, despite critics expressing a lag in investments because of the coming elections.

The positive economic trend cannot be bucked, even by the din of political noise that has largely been bypassed by the investment community.

Only recently, President Arroyo bared a $2-billion fresh foreign investments that would greatly help accelerate the conversion and development of former military bases in the country into economic zones, and make the Philippines “one of the best values for money in Asia for investors”.

With the signing of RA No. 9400 the other day converting the Clark Special Economic Zone in Pampanga into a Freeport zone, the President said that the new Freeport zones will spur further growth, investments, jobs and other socio-economic gains that will benefit all Filipinos. (PIA) [top]

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