By Mar S. Arguilles
LEGAZPI CITY, Feb. 12 (PIA) --- The Mamasapano incident in Mindanao should be resolved at the soonest possible time as this might discourage3 future foreign investment in the country, a top official of the United States Embassy in Manila said.
US Ambassador Philip Goldberg said at a recently held Asia Pacific Economic Cooperation (APEC) regional media forum at the US Embassy on February 3 and 4 disclosed that the situation in Mindanao is a concern that should be addressed with urgency as this would affect the confidence of foreign business who desires to invest in the Philippines.
The incident between the Philippine National Police Special Action Force (PNP SAF) and the Moro Islamic Liberation Front and the Bangsamoro Islamic Freedom Fighters (BIFF) in a remote village in Mamasapano town on January 25 this year had left 44 PNP SAF dead would reflect a bad picture specially as the Philippines is playing host at the APEC meeting on November.
Asked on what would be the economic implication of the Mindanao incident, Goldberg said “I support the move of the government to pass the Bangsamoro Basic Law, this will bring peace and development to the area.” Although the peace and development is a complicated process because this situation is like a “chicken and egg” assumption “which comes first peace or development,” Goldberg said.
Goldberg said since the APEC meeting would serve as forum where leaders of 21 countries would meet and pass council resolutions that would of improved trade and investments among member nations of which the Philippine is a member.
He pointed that the APEC would ber a venue in which APEC leaders would come together to promote economic growth among member nation where one of its gains are inclusions of Foreign Direct Investments (FDI) these are “key drivers” to strengthen economic growth.
At the regional media forum the US Ambassador cited the Philippine as among the Asian nation that has fostered an impressive and sustained economic growth rate attaining a 6.9% Gross Domestic Product (GDP) in the 4th Quarter of 2014.
FDI data indicate that the Philippines had receive at least $9.6 Billion in investment due to the improved economic standing of the country. FDIs inflows to the Philippine increased from $1.07 billion in 2010 to $3.66 billion in 2013. For the first three quarters of 2014, foreign direct investment inflows increased further to $4.88 billion. Foreign Investments came in the form of Business Process Outsourcing (BPO), Small and Medium Enterprise (SMES). The Bangko Sentral ng Pilipinas can confirm to this FDI data, the report said.
James McCarthy, US Embassy Commercial Attache told 20 media participants from across the country that aside from the FDIs US trade in the Philippines increased by $8 billion in 2014 with 13 trade mission held while importation posted a $9 billion.
Gloria Steele country director of United States Agency for International Development (USAID) told media participants that the Philippine has improved its economic performance by addressing the binding constraints to growth, these include: weak governance (corruption, inefficient judicial system, poor regulatory quality; constrained public finance, inadequate infrastructure and weak human resources.
Steele said among the gains that the Philippine achieved were: the real GDP growth has averaged 7% per year from 2011-2013. The Philippines’ World Economic Forum Global Competitiveness ranking increased by 28 places from 2011 to 2013. The Philippines advanced 35 places in Transparency International’s Corruption Perception Index. In 2013 the Philippine ranked 94th next to Malaysia (54th) among 177 countries that engage in combating corruption, Thailand (102nd), Indonesia (114th) and Vietnam (116th).
In November 2011, the Philippines and the US government signed an agreement to undertake a new Partnership for Growth (PFG) to address the binding constraints to economic growth and development in the Philippines. The PFG is a “whole-of-government” effort to unlock the growth potential of partner countries to become the next generation of emerging markets. The Philippine is one of just four countries selected to join the PFG aimed to promote and improved trade, investment and private sector growth. The PFG also aims to strengthen rule of law and anti-corruption measures, improving fiscal performance and promoting human capacity development by way of improving education, health and expanding public infrastructure.
Steele at the forum told participants of the gains of the PFG, where in since 2011 the Philippines implemented major policy and institutional changes including strengthening its anti-corruption efforts. As a result, it has achieved remarkable improvements in its economy by way of posting a real GDP growth rate of an averaged 7.0% per year from 2011-2013, USAID report reveal.
Although the PFG is only about 2.5 years old, some early accomplishment were recognize such as policy and institutional compliance to regional and international trade agreements with the ASEAN Economic Community and the WTO Trade Facilitation agreement. The Philippines also has enhanced global competiveness by formulating road map for 15 high-growth industries and facilitating credit to Small and Medium Enterprises in growth hubs.
According to the World Economic Forum the global competitiveness index of the Philippines rankings showed that from 2010 the country ranked 85 and it stepped up to 52nd rank in 2014. As for doing business organization study showed that the Philippines ranking improved form 144th rank in 2009 it went up to 95th ranking in 2014. The country has also improved its infra development by expanding public infra budget currently it has allocated 3.5% of GDP and targeting a 5% of GDP in 2016. (MAL/MSA/PIA5)
- See more at: http://news.pia.gov.ph/article/view/771423728600/mindanao-conflict-resolution-needed-to-attain-economic-growth-goldberg#sthash.F2QlqaEJ.dpuf
LEGAZPI CITY, Feb. 12 (PIA) --- The Mamasapano incident in Mindanao should be resolved at the soonest possible time as this might discourage3 future foreign investment in the country, a top official of the United States Embassy in Manila said.
US Ambassador Philip Goldberg said at a recently held Asia Pacific Economic Cooperation (APEC) regional media forum at the US Embassy on February 3 and 4 disclosed that the situation in Mindanao is a concern that should be addressed with urgency as this would affect the confidence of foreign business who desires to invest in the Philippines.
The incident between the Philippine National Police Special Action Force (PNP SAF) and the Moro Islamic Liberation Front and the Bangsamoro Islamic Freedom Fighters (BIFF) in a remote village in Mamasapano town on January 25 this year had left 44 PNP SAF dead would reflect a bad picture specially as the Philippines is playing host at the APEC meeting on November.
Asked on what would be the economic implication of the Mindanao incident, Goldberg said “I support the move of the government to pass the Bangsamoro Basic Law, this will bring peace and development to the area.” Although the peace and development is a complicated process because this situation is like a “chicken and egg” assumption “which comes first peace or development,” Goldberg said.
Goldberg said since the APEC meeting would serve as forum where leaders of 21 countries would meet and pass council resolutions that would of improved trade and investments among member nations of which the Philippine is a member.
He pointed that the APEC would ber a venue in which APEC leaders would come together to promote economic growth among member nation where one of its gains are inclusions of Foreign Direct Investments (FDI) these are “key drivers” to strengthen economic growth.
At the regional media forum the US Ambassador cited the Philippine as among the Asian nation that has fostered an impressive and sustained economic growth rate attaining a 6.9% Gross Domestic Product (GDP) in the 4th Quarter of 2014.
FDI data indicate that the Philippines had receive at least $9.6 Billion in investment due to the improved economic standing of the country. FDIs inflows to the Philippine increased from $1.07 billion in 2010 to $3.66 billion in 2013. For the first three quarters of 2014, foreign direct investment inflows increased further to $4.88 billion. Foreign Investments came in the form of Business Process Outsourcing (BPO), Small and Medium Enterprise (SMES). The Bangko Sentral ng Pilipinas can confirm to this FDI data, the report said.
James McCarthy, US Embassy Commercial Attache told 20 media participants from across the country that aside from the FDIs US trade in the Philippines increased by $8 billion in 2014 with 13 trade mission held while importation posted a $9 billion.
Gloria Steele country director of United States Agency for International Development (USAID) told media participants that the Philippine has improved its economic performance by addressing the binding constraints to growth, these include: weak governance (corruption, inefficient judicial system, poor regulatory quality; constrained public finance, inadequate infrastructure and weak human resources.
Steele said among the gains that the Philippine achieved were: the real GDP growth has averaged 7% per year from 2011-2013. The Philippines’ World Economic Forum Global Competitiveness ranking increased by 28 places from 2011 to 2013. The Philippines advanced 35 places in Transparency International’s Corruption Perception Index. In 2013 the Philippine ranked 94th next to Malaysia (54th) among 177 countries that engage in combating corruption, Thailand (102nd), Indonesia (114th) and Vietnam (116th).
In November 2011, the Philippines and the US government signed an agreement to undertake a new Partnership for Growth (PFG) to address the binding constraints to economic growth and development in the Philippines. The PFG is a “whole-of-government” effort to unlock the growth potential of partner countries to become the next generation of emerging markets. The Philippine is one of just four countries selected to join the PFG aimed to promote and improved trade, investment and private sector growth. The PFG also aims to strengthen rule of law and anti-corruption measures, improving fiscal performance and promoting human capacity development by way of improving education, health and expanding public infrastructure.
Steele at the forum told participants of the gains of the PFG, where in since 2011 the Philippines implemented major policy and institutional changes including strengthening its anti-corruption efforts. As a result, it has achieved remarkable improvements in its economy by way of posting a real GDP growth rate of an averaged 7.0% per year from 2011-2013, USAID report reveal.
Although the PFG is only about 2.5 years old, some early accomplishment were recognize such as policy and institutional compliance to regional and international trade agreements with the ASEAN Economic Community and the WTO Trade Facilitation agreement. The Philippines also has enhanced global competiveness by formulating road map for 15 high-growth industries and facilitating credit to Small and Medium Enterprises in growth hubs.
According to the World Economic Forum the global competitiveness index of the Philippines rankings showed that from 2010 the country ranked 85 and it stepped up to 52nd rank in 2014. As for doing business organization study showed that the Philippines ranking improved form 144th rank in 2009 it went up to 95th ranking in 2014. The country has also improved its infra development by expanding public infra budget currently it has allocated 3.5% of GDP and targeting a 5% of GDP in 2016. (MAL/MSA/PIA5)
- See more at: http://news.pia.gov.ph/article/view/771423728600/mindanao-conflict-resolution-needed-to-attain-economic-growth-goldberg#sthash.F2QlqaEJ.dpuf
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