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Davos harvest: ‘We’ve received universal praise’

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DEBUT IN DAVOS President Aquino keynotes the World Economic Forum (WEF) activity, “Partnering Against Corruption Initiative-Private Reception,” in Davos, Switzerland, where he said transparency and a level playing field remain his administration’s priorities. It is Mr. Aquino’s first time at the WEF. Malacañang Photo Bureau

DAVOS—President Aquino on Friday wrapped up his World Economic Forum (WEF) debut performance with a new stream of prospective institutional investors, new projects with existing investors, and a deal for the Philippines to host the WEF’s East Asia summit next year.

Asked whether this would be a long-term collaboration with WEF, Mr. Aquino said the Philippines—with a story to be proud of—was now willing to boost its participation in global events.  “We can participate in the world stage and not feel—how should I put it—like a second-class citizen. Yung parang hindi na nakakadiyahe o nakakahiya na magpapa-participate tayo dito. Meron naman yata tayong puwedeng ipagmalaki na rin (It’s no longer shameful for us to participate because we have something to be proud of,” he said.

In a talk with Filipino reporters on the sidelines of the WEF meeting here, Mr. Aquino announced that he had accepted an offer to host the WEF East Asia Summit 2014, a smaller regional summit in the forum’s network.

Mr. Aquino attended a series of top-level meetings, mostly closed-door sessions, the best of which for him, he said, was a business executive forum hosted by Ayala Corp., whose two top honchos—Jaime Augusto Zobel de Ayala and Fernando Zobel de Ayala—are active members of the WEF and are regular Davos participants.  The forum was attended by the top officials of more than 30 companies.

“I think there’s a universal consensus both by the participants and by the Cabinet members present, our business sector, that it was a very successful meeting,” Mr. Aquino said.

“We were not on the radar’s range of so many entities for the last five years or so, but now we are, so they want to know better.  We’ve received universal praise from so many quarters. [Now] we can put in more substance,” he said.

Mr. Aquino pitched to global investors prospective projects in three major sectors—infrastructure, tourism and agriculture.

The President said one of the prospective investors had indicated plans to send a mission to the Philippines to explore fresh investment possibilities.

Even some companies with existing operations are now looking for ways of expanding their operations in the country, Mr. Aquino said.

Trade Secretary Gregory Domingo said the feedback after the roundtable was “very, very positive.”

He said: “Some firms, including very big hedge funds based in the United States, already indicated that they will be sending a team. Obviously, some of them don’t want to be mentioned, so we cannot really mention [their names].”

Guillermo Luz, cochair of the Philippine National Competitive Council, said of Mr. Aquino’s WEF debut: “I think the trip emphasized the progress we have made to existing investors and, more importantly, opened the eyes of other investors who have not taken a close look at the Philippines.

 

Preferred partner

The President was able to project the reforms and give lots if specific examples to investors who asked questions.”

In hosting next year’s East Asia Summit, Finance Secretary Cesar Purisima said: “It’s a chance to showcase President Aquino’s good governance agenda.”

Burma is hosting this year’s Asian WEF summit, taking over from Thailand, last year’s host.

Deemed by many as the de facto private sector representative of the world, the WEF is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industrial agendas.


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Tags: Benigno Aquino , economy , foreign investments , Philippines , world economic forum

  • Matz Gabi

    Economic conference yun pinuntahan sa Davos, pnoy’s success must be measured by how many companies would invest in the Philippines , from the time umupo say as president ZERO INVESTMENT , wala pa nagpupunta real investment….

  • mamamiamia

    Naku Pnoy, sa North America  a few and lucky people secretly silang nag-invest sa Pinas during the recession (despite the odds and gloom and doom). Di mo ba alam na during the recession,  North American stocks are in a free fall and Asia Pacific stocks are slowly climbing like a stairs going up!  This is a once in life time opportunity sa mga mapalad at nag-invest  during the recession  and since 1920 (during the stock crash) Ngayon lang lumabas yung mga new millionaires (parang Lotto) who bought and held the stock during the recession!  Congratulations! Now wait ka na lang in 90 years( another stock crash) kung buhay pa kayo to have that opportunity again. Hay, Gulong ng Palad!

  • zeroko

    Today, I’ll file a case of Malversation of public funds laban ke Bistek ng Q.C. Ang crime of Malverzation of public funds has no limit. Kahit  na one peso ang kasalanan, he is liable for the crime. If anyone of you visited Q.C. last January 1 to 20 which is Business Tax payment, you can not avoid but notice several EPALs of Bistek which flooded the whole Q.C. Hall. 

    He made a press release last September 2012 admonishing his lower rank officials like Vice Mayor all the way to the City Councilors to remove their EPAL tarpaulins in the City. He he he. Nobody heed to his order.

    Surprisingly, once you enter the Q.C. Hall compound to pay your taxes, both Real Estate and Mayor’s permit, you will have a surprise of your life. Before entering the building coming from the front, you will see a large tarpaulin with HB initial. Then again, you also see an Q.C. Hall Ambulance park alone the pedestrial lane before entering the building which is park there all day, everyday, permanently stationed with big HB initial. As you walk towards the long lines of tax payers, the large tents also has picture of Bistek. Then you will notice that Q.C. traffice Officer has green and yellow attire with HB patch. All Q.C. employees has green I.D.with HB initial. As you enter the Business Tax Section, on Building 1, the picture of Bistek is on top of the elevator prominently advertize. Then, before entering the Business Permit Section, an HB at the upper right corner is also present. Once you enter the Payment section, on the left are files of large Calendars “give aways” with a large picture of Bistek. And also, if you enter the main building, at the center lot, you will notice that all food carts are yellow and green, with large picture of Bistek. The peddlers has green T-Shirt with large H.B. at the back. There is also the Maroon T-Shirts, the Street Cleaners with similar large initial of H.B. at their back.

    And visiting the Senior Citizens Office, I just can not avoid noticing that the Senior Citizen’s Discount Booklet is color yellow and the large Picture and initial of Bistek is on the cover. HE he he. Got you………!

    It says in the Audit, Standard SOP on all government expenses that  ”All government expenses should be beneficial to the people or the country In short, EPALs or political advertisement is no exception.. @google-c85d3827132b19a999a3a3024c2ff855:disqus 
     d order from COA and generally the role in the government is Services and function of the government should be done in prudent manner (which means, no extravagance.) He h eh he. Dali na naman siya. 

    This actor thinks he can do anything with out accountability. He he he. Few minutes from now, I will go to his office, have my complaint affidavit stamp received, then I will go to the Office of the Ombudsman.  Sobra na itong government officials natin. Kala nila, they can not be held accountable. He he he. Huli ka, Bistek!

  • zeroko

    How can we survive sa “praise lang.” Nabola na naman si PNoy. Our country will never progress as long as Chinese is operating our government. Wanna bet? Sa Senate, bilangin natin ang may Chinese blood. Joker Arroyo, Trillianes (gulat kayo?), Lacson, Angara, Santiago, Pangilinan, Chiz, JPE, Bong Revilla, etc. O, ngayon lang ninyo nalaman na puro swetik sila. Mantakin mo, 2.2 million pesos a month ang MOOE nila, may dagdag pa. One month operating their office worth 2.2? Ba, paano nangyari yan. Tapos, may dagdag pang opesina. Ano ang sabi ni Lacson ke Santirago, pati kasambahay o housemade ang sweldo galing sa MOOE? Hayop. 

    Kaya pala nangkakandarapa ang mga politiko dahil sa pagnanakao ng pera ng taong bayan. And all high positions are exclusively for the Chinese only. Kawawa si Juan de la Cruz!

    Sa 2.2 million a month, hindi pa kasama ang travel allowances, bonus, Representation allowances, incentive pay, etc. On the average each Senator has P78 million pesos a year for his discretionary funds. Same  goes with the Congressman. In year 2011 before the 2012 increase on the Salary Standardization Law, the President’s salary is only P60,000 a month basic. House Speaker, Senate President, Chief Justice, and Head of COA gets 43 thousand a month. Then, the Generals, and other equal ranks gets 38 thousand a month basic pay. He he he he.

    Tama na, taas na ang blood pressure ko tuwing na aalala ko ang pangloloko nitong mga Chinese sa gobyerno.

  • ben311

    talk is cheap busit walks !

  • rodben

    Sa Saudi Arabia minimum wage ng Arabo ay 3,500 Reyal per month pero second hand na kotse 2,500Reyal lang. Sa Singapore minimum wage ng Singaporeans ay 8,000 SND/month second hand na kotse ay 10,000SND, sa America minimum wage 2,400.00 USD/month second hand na kotse ay 2,000.00 USD sino kayang Pangulo ng Pinas ang makagagawa nito ngayon palang ang gap ng mayaman at mahirap ay lampas langit na dahil sa CORRUPTION SA BANSA LALONG LUMALA.

  • rodben

    Same2 Gloria anyway she had also some good project accomplishments during her term, hope this Noy2 administration can do so  before the end of his term not only Stock market.

  • http://pulse.yahoo.com/_4PQEOFXSZSEDCYSTO3O7FJNP2U jung jacinto

    I always watch CNN especially with the Quest means business, and had not heard of my country Philippines in the radar on economy, better for Vietnam it is mention sometimes, but Philippines, I only during there is calamity, deaths and flash flood

  • Touch_Me_Nuts

    huh? abuso at kabastusan eka mo ang minumumog ng Filipino, hindi respeto. saan ka ba naglagi netong mga nakaraang araw? baka nalulungkot ka lang, hane? nasaktan ba kita? iyakin ka pala eh.



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