President Benigno S. Aquino III Improves Philippine Economy

President Benigno S. Aquino III remains committed to push the country’s economic growth in a solid upward trajectory by minimizing political risks.

The government has taken significant steps to achieve its goal to further improve the country’s business climate, the Chief Executive told a business forum in Australia Thursday.

“We have taken the necessary steps to ensure that the goal of minimizing political risks does happen,” Aquino said.

“The very first promise I made to our countrymen was to provide jobs. And previously businesses that came into the country were, if you were to use an analogy, they were made to jump through several hoops and a lot of the hoops were very unnecessary,” he said.

To fulfill his promise, the President said that he has to confront the many dimensions of commercial and political risks to entice business entities to come to the Philippines to invest.

“One of the ways by which we can do this is if needed they can go to MIGA — which stands for Multilateral Investment Guarantee — which is a subsidiary of the World Bank,” the President said.

“Now, again, we cannot commit future legislatures to a particular limitation of their powers — because they are a co-equal branch.We don’t expect, or we do suspect that they will be changing policies, because that is the center point of our guide to improve the business conditions in our country, — and that is to provide a stable environment for policy, — clear cut regulations,” he said.

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