ASEAN KEY DESTINATIONS
Business opinion buoys Aquino
Presidential Communications Development and Strategic Planning Office Secretary Ramon “Ricky” Carandang verified the “high-level of business confidence in the Aquino administration” after he attended an economic briefing along with Department of Finance Secretary Cesar Purisima, Department of Trade and Industry Secretary Gregory Domin-go, and Department of Energy Secretary Jose Rene Almendras on Wednesday.
Carandang also noted that the government must adopt an “unchanging” policy environment that would allow investors to plan their investments and operations in the country.
He added that business are often discouraged by the economic and fiscal policies that changed too often, making it difficult and sometimes impossible for them to adjust their operations immediately.
“The President himself is inviting investors to come to the Philippines and set up shop here and our message is: ‘we are open for business.’ We want you to invest here. We will make sure that the rules and policies remain the same for as long as we are here,” Carandang said.
The business confidence for the fourth quarter has hit an all-time high amid a “higher than anticipated economic growth, stronger peso, robust overseas remittances, benign inflation, strong export earnings and smooth transition of political power,” earlier reports cited.
The confidence index or net percentage of firms that answered affirmatively (versus the negative responses) showed a more positive outlook as cited by the report from Bangko Sentral ng Pilipinas in its latest business expectation report.
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