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Aquino says investors lining up for PH

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ZURICH—Gone are the days when the Philippines had to beg for investments. Now, investors are lining up to ride on the country’s economic momentum, President Aquino said here on Saturday.

Speaking before a crowd of about 500 members of the Filipino-Swiss community, Mr. Aquino said the market back home was soaring to all-time highs and that the main-share Philippine Stock Exchange index (PSEi) may hit the 7,000 milestone within the year.

“If we further help each other, I won’t be surprised if we make it to the Guinness Book of World Records because of the strong performance of our stock exchange,” said the President, who earlier attended the World Economic Forum in Davos.

He said in jest that when he celebrates his birthday on Feb. 8, the index may have hit 6,500.

As of Friday, the PSEi closed at 6,167.64. The index—seen as an advanced barometer of how the economy and corporate Philippines will fare—has hit new record highs for over 70 times since the Mr. Aquino assumed the presidency in mid-2010.

 

Momentum

The President was applauded when he reminisced the situation during the term of his mother, the late President Corazon Aquino. “I joined some of her trips. We went to Japan and we were almost begging for them to put up businesses in the Philippines.”

“But these days, there’s a long line of investors for us,” Mr. Aquino said. They are eager to invest in a wide array of sectors from education and infrastructure to information technology, he said.

“These big corporations are one in saying: We’d like to join you,” he said.

But on the other hand, Mr. Aquino said that for the longest time, he was still thinking why there were still Filipinos trapped in extreme poverty no matter how hard they tried. This, he said, was what his administration was trying to address.

“We’re trying to fix the conditions so that people who work hard will earn a good living. We’re dismantling the system where only those with connections, those who engage in bribery or fraud, benefit,” he said.

No magic

“We’re trying to build a society where if you get into the line, you will move forward; when you work hard, you can live with dignity and without getting hungry,” he said.

The President said the Philippine transformation did not need any magic potion. He said he had just done what was right: Use public funds to worthwhile programs; follow the rule of law and make violators accountable.

Mr. Aquino again took a potshot at his predecessor, Gloria Macapagal-Arroyo, who is now facing plunder charges.

Citing that the previous administration had entered into a contract to dredge Laguna Lake, he said: “It would have been good—getting rid of sediments to increase the holding capacity of this lake. It sounds good, right, because that’s where we get bulk water for the National Capital Region.”

But, he said, it was discovered that one part of the lake would be dredged but the sediments would be dumped to another side. “You may think it’s a joke but it isn’t. It’s what’s there in the contract,” he said.

 

Level playing field

The President said Juan de la Cruz would, of course, wonder how the Laguna Lake’s holding capacity would improve that way.

The contract, he said, would cost the government P18.7 billion just to play with mud, adding that those responsible would be held accountable. He said he aborted it because any contract must go through a proper bidding.

“Why did anybody agree to this foolishness? Who will benefit? And I think, very soon, someone will face prosecution for this,” he said.

These days, there’s a level playing field not just in government projects but in the financial markets, the President said.

“This is what the global community is seeing now. This is why despite the global economic crisis, our gross domestic product (GDP) has been growing rapidly,” he said. He noted the 7.1-percent GDP growth in the third quarter of 2012 and the robust performance of the stock market.

7,000 points

“Before I assumed office, whenever the PSEi hits 4,000, it’s always only a blip and then it would go down. At that time, there was not enough confidence to pass the 4,000-mark. But now, we’re past 6,000. So, I asked market players, ‘What’s next, maybe 7,000?’ I was told, maybe 6,500, and maybe that will happen by my birthday next month,” he said.

He said he was later told that the index would hit 7,000 before the end of the year. “This broker never missed his forecast, so there’s a big chance this will happen.”

The President’s stock market view was within the range expected by the market. Based on recent forecasts from eight financial institutions recently culled by the Inquirer business section, the PSEi could climb further to at least 6,200 to as high as 7,100 this year.

Averaging their forecasts, the consensus level is about 6,580 on an assumed growth in earnings per share of 14 percent.

Mr. Aquino arrived in Manila on Sunday.

Summary of forecasts:  2013 PSEi outlook            

* Macquarie Group – 7,100

* BPI Odyssey – 6,500-7,100

* First Metro Investment Corp. – 6,800

* COL Financial – 6,500

* Banco de Oro – 6,500

* TradeAsia.com – 6,500

* UBS – 6,250

* Maybank ATR-Kim Eng Securities – 6,200

Average – 6,581

Originally posted: 5:44 pm | Sunday, January 27th, 2013


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  • http://profile.yahoo.com/PNVN7CRGTCWCXNM5FI7ZUL3DHE Dino

    I’ll believe it when I see it.

  • FORTHE GOOD

    I am praying for the success of President Aquino everyday. and I have no doubt he will.

    • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

      i pray for ngoyngoy to do this
      a) certify FOI urgent
      b) investigate corrupt admin scalawags under him
      c) distribute hacienda luisita

      • yesyesyo

        For sure those prayers will be answered. PNoy himself will distribute the land titles to the beneficiaries. FOI will become a law before he steps down. and all scalawags are being investigated.
        In fact, all those are already work in progress.

      • Bisdak_kaayo

        only after higher payment for the hacienda is made. Long overdue na dapat itong na distribute.  Hindi sana nag appreciate ang value ng LAND nila kung nadistribute ito noon pa.

      • yesyesyo

         Long overdue dahil sa flipflop ng corona supreme court. for sure, PNoy himself will distribute the land titles.

      • Bisdak_kaayo

        such a lame excuse bakit si Corona, sa panahon pa ng nanay niya ito. patawa ka talaga.

      • yesyesyo

         coronasupremecourt decided the stocks option was ok then flipflopped. now, the dar is processing the thousands of papers. for sure PNoy himself will distribute the titles.

      • Bisdak_kaayo

        patawa ka talaga. 2010 lang nanunkulan si Corona. In those years na hindi nagdecide si Corona, at iba pa ang CJ, ano ang ginawa.  Patawa ka talaga. Gustong lumusot maski halatang barado.

      • http://pulse.yahoo.com/_D3LDMMAKC6UDQLDVFP2DGSJBXY Jezzrel

        matagal nang tanggal si corona di ba? ano pang ginagawa niya? baka pina plano kung pano maireverse iyong ruling ni corona, NYA HA HA HA…

      • http://pulse.yahoo.com/_D3LDMMAKC6UDQLDVFP2DGSJBXY Jezzrel

        bakit bago mag step down pa? promise niya noong nangangampanya iyang FOI na iyan, promise na binali naman…

  • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

    Sabi ni Ngoyngoy nuong 2011, rice self sufficient na tayo by end 2011…..

    ayun 2013 na wala pa din…….. kamusta naman ang mga uto uto

    • yesyesyo

       2014 ang original target. walang 2011 target which is only his 2nd year in office. you are peddling lies.

      • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

        U l o l mo uto uto

        Nov 2011 speach ni Idol mo
        HONOLULU, Hawaii – The Philippines will no longer be needing rice imports as it is already nearing a self-sufficiency stage, President Aquino said yesterday in a panel discussion with chief executive officers of top companies.“Our agriculture minister has made a guarantee that there will be no need to import rice. It was not a radical change, but what we did was that we did what was only necessary. Ours is a very basic step,” he told a forum attended mostly by businessmen.“In terms of food security, I’m very pleased to note that our agricultural minister is already giving us a guarantee that there is no need for further importation of rice,” Aquino assured.guaranteed daw 2011

      • yesyesyo

         Tanga ka talaga! walang binanggit sa quotation mo ng 2011.lol!! I am sure, pinutol mo yang speech dahil iba ang point ni PNoy.

      • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

        basahin mo nalang…. research mo nalang…. tanga! so ngayon hindi ka na marunong umintindi ng speech???? 

        Our agriculture minister has made a guarantee that there will be no need to import rice????????? 

        TANGA!!!

      • yesyesyo

        LOL! PNoy did not say in 2011 that he will stop importation that same year. TANGA!
        For sure titigil ang rice importation under PNoy.

      • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

        bobo ngayon nag mamalinis ka diyan…. sinabi niya wala ng importation by 2011…………. ano sinasabi mo 2014????????

        TANGA!

      • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

        don’t open your mouth unless you are sure…. well i guess your jus tlike your idol

      • yesyesyo

         dont open you mouth unless you are sure. may 2011 ka pang nalalaman! tanga!

      • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

        mag basa ka tanga! kitang kita sa YAHOO at Philstar UTO UTO

        basahin mo sa baba pinost ko na para sayo TANGA

      • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

        Nov 2011 speach ni Idol mo
        HONOLULU, Hawaii – The Philippines will no longer be needing rice imports as it is already nearing a self-sufficiency stage, President Aquino said yesterday in a panel discussion with chief executive officers of top companies.“Our agriculture minister has made a guarantee that there will be no need to import rice. It was not a radical change, but what we did was that we did what was only necessary. Ours is a very basic step,” he told a forum attended mostly by businessmen.“In terms of food security, I’m very pleased to note that our agricultural minister is already giving us a guarantee that there is no need for further importation of rice,” Aquino assured.guaranteed daw 2011
        B O B O

      • http://profile.yahoo.com/OWNWCGANYNERXTTZXJDY6KGPJM James Barrett

        Mas mura nga kung ang gobyerno ay magimport ng bigas sa Vietnam,better quality sa halagang 15php per kilo samantalang ang local produce na bigas ay nasa 40php. Penoy tell your money managers kung saan puedeng makasave ang gobyerno, and that’s economics.

    • http://profile.yahoo.com/ZNY7QZZDDBH4EBGB5ZS4IOUATE mave

      meron ba tayo inangkat na bigas tulad ng ginawa ng amo mo na si GMA?

      • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

        wow GMA versus Pnoy na ulet….

        totitototitititototot

        I LOVE PNOY “NIGHT THE UTO UTO”

        I LOVE PNOY “NIGHT THE UTO UTO COMMANDER”

        hahaha

      • kulittwit

        is that you mike?

      • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

        wow what a come back…. anyone who is against Pwenoy is mike arroyo 

        niyak!!!

    • http://www.facebook.com/profile.php?id=100002207384387 Andrei Mendoza

      tanga! mag-tanim ka kasi ng bigas, para matupad ang self-sufficiency natin, hindi yung puro ka reklamo, ia ka ring boplaks na talangka!

      • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

        bakit ako mag tatanim, hindi ako nag rarice…. diet ako eh

  • http://profile.yahoo.com/NYKIOQEDTUD4FPPPVHP6XMFNEA Raul

    Wala tayo sa China kaya may negative at positive news. Sa China kasi puro pinupuri kahit mali. Dito kahit tama ginagawang mali kasi may kanya kanyang opinion at partida este partido.

  • maximus_meridius

    Naniniwala kayo sa mga sinasabi ni Abnoy?  Alam nyo ba na sa isang daang salita ni Abnoy ay isa lang ang mapagpaniwalaan at kaduda duda pa?  Di nyo ba alam na si Abnoy ay “all talk and no think”?

    • yesyesyo

      clearly, that’s you abnoy maximus – all talk and no think.

    • manual47

      What about you, full of negativity.  What have you done except, mind full of negatives and no brain to analyze.  That’s even worse……..

  • Bisdak_kaayo

    A WAKE UP CALL FOR PNOY.

    Kung maganda na ang ECONOMY natin as HE CLAIMS it na maganda, dapat nag si uwian na ang mga OFW na 12million around the world at dito na magtrabaho dahil we have a better economy.

    Tsaka nalang ako maniniwala kung mangyari iyan, mag si uwian na at sa Pinas na magtrabaho.

    Iyan ang tunay na barometer ng IMPROVED economy.

    WHAT AN IRONY.

    • yesyesyo

       stupid comment. arroyo was in power for 9 years. did all the ofws went home??????

      • Bisdak_kaayo

        when did I say arroyo improved the economy. ikaw ang stupid.

      • yesyesyo

        Barometer of economy is not whether the ofws come home. ikaw ang stupid.

      • Bisdak_kaayo

        and why would the OFWs continue to be away from their loved ones kung may OPORTUNIDAD pa rito.  Ikaw ang stupido.

      • yesyesyo

        and why would they stay if they have higher paying jobs abroad. filipino workers are much sought after worldwide. ikaw ang stupido.

      • Bisdak_kaayo

        ay akala ko nag improve na economy, mataas pa rin ang sahod sa labas. patawa ka talaga.  improved economy is relative to others.  patawa ka talaga.  Kung improve ang economy natin, dapat mataas na ang sahod natin. stupido

    • niceguy60

      OFWs always save the day irrespective of who the president is. My worry is what if they all go home in the belief that it is really is now so good in this country only to find out that it’s not entirely true. This stock market only rich people can afford the investments. Ordinary folks don’t even understand what it is much lest bet on it.

      • Bisdak_kaayo

        The truth of the matter is they cannot go home, because there is no work waiting for them.  And yet they claim the economy has improved.

        Must have been day dreaming.

      • http://profile.yahoo.com/RMTNJSMC2THKQNHFYUFQDHXIAI Jojo

        Yan ang hirap e, ang daming available ways para maintindihan nyo ang stock market, ang mutual funds, pero hindi nyo ginagawa.  Tapos sasabihin nyo mayayaman lang ang nakakaintindi. 

        Ano ginagawa ng internet, halos lahat ngayon pwede ng makita sa internet.  Kung wala kang internet, punta ka sa Makati, hanapin mo yung IMG…tuturuan ka nila kung ano yung stock market…kung malayo ka sa makati, marami silang branch na malapit sa yo.  Sometimes you need to make some effort para umasenso ka.

        Tama na ang spoon feeding kabayan.

      • Bisdak_kaayo

        bwahaha bakit ang karaniwang pinoy bay may 25T to start up with COL? patawa ka talaga.

    • http://www.facebook.com/people/Sherwin-Gonzalvo/1785976232 Sherwin Gonzalvo

      It takes time para bumaliktad ang trend kung magtutuloy tuloy ang mabilis na paglago ng ekonomiya sa mga susunod na taon mas maraming trabaho ang magbubukas. pag nangyari iyon mas babagal ang deployment sa ibang bansa para sa ofw.

  • http://profile.yahoo.com/ZLR76JEWFTBW54T2JIOPPASXA4 The Franchise

    If we have BAD NEWS people will give you NEGATIVE comments. If we have GOOD NEWS, people will STILL give you NEGATIVE comments. hahahaha..

    • Bisdak_kaayo

      bakit, yung TV ba pulos magandang balita ang palabas?  Parang hindi ka sanay sa mundo, all of us hear both bad and good news.   Kung ayaw mo ng bad news huwag mo pansinin, ganyan lang. dont get affected.

  • http://pulse.yahoo.com/_HJQSWXFTBUKKMUMZASRTGR3SSI ricardo

    CRAB MENTALITY… KKK ( kaguluhan, karahasan at kalituhan) yan ang gusto ng mga Pnoyhaters dito….. manigas kayo lahat…. suportado ng mas nakakarami pilipino si p-Noy..

    God Bless Philippines!!!

    • Don Dee

      Nanigas na po ang leeg ng idolo nila.

    • Andres_Bagumbayan

      Mas nanaisin ko pang matawag na utak talangka kesa naman maging parang TSUBIBO na sunod lang ng sunod kahit paikot-ikot lang at walang patutunguhan!!!

      At least ang isang talangka ay may nararating at patutunguhan…

    • Bisdak_kaayo

      Ang gusto pala ng mga Pro Pinoy rito lahat ng mga tao, katulad sa kanila, pinupuri si Pinoy.  Kung lahat tayo ganyan, parehas na tayo ng China, mga uto uto lahat. Pinupuri maski hindi kapuri puri. Negative and positive opinions is a sign of a healthy democracy.

  • PinoyPower1

    President Aquino is unstoppable. most filipinos support and trust him. on the other hand, the haters and crabs continue their losing streak. the discerning public know that they are just peddling lies, half truths and mostly nonsense gutter talk and namecalling.

    • Bisdak_kaayo

      He is unstoppable for now. but wait until his term ends, tingnan natin kung ang susunod na presidente hindi ba mag prosecute sa kanya.  Weder weder lang iyan my friend.

      • http://www.facebook.com/babinski.tero Babinski R Tero

        Bisdak_kaayo, You’re abnormal person you know?

      • Bisdak_kaayo

        Bakit ba abnormal, porket you don’t like my opinion abnormal na ako?  Gusto mo bang makita at marinig sa TV pulos lang magandang balita? Is the world all good news to you?  Kaya kung bad news abnormal na?  Sino ngayon ang abnormal sa atin?

      • yesyesyo

         halatang ikaw ang abnormal bisdak. ilang oras ka nang nakababad dito.LOL!!

      • http://pulse.yahoo.com/_NIPR2MWOPGWUNZ4COTAMW7MLKE Mark

        kool ka lang pre … that’s the only word Babinski knows

      • http://pulse.yahoo.com/_D3LDMMAKC6UDQLDVFP2DGSJBXY Jezzrel

        totoo, weder weder lang iyan, ika nga ni erap…

    • Andres_Bagumbayan

      Matanong nga kita kabayan,kung talagang galit at hindi kurap ang inyong pangulo,eh bakit naman magpahanggang ngayon ay hindi niya mabira si Binay at Estrada na ayon na din sa inyong mga makadilaw ay nuknukan ng kurap?

      Sa tutoo lang po,Kurap ang inyong Pangulo sa dahilan ang mga kapanalig niya ay mandarambong!!!

      May kasabihan na “Ang Kumakalinga sa isang kriminal,ay Kriminal din sa mata ng BATAS”

      • yesyesyo

         Ikaw ang kumakalinga sa corrupt. mag pa prresscon ka kung may makita kang corruption ni PNoy.

      • Andres_Bagumbayan

        ikaw naman kabayan,Hindi ba kurapsyon ang tawag sa taong kumakalinga o Kumukunsinti sa kamalian ginawa ng kanyang mga kasama o kaalyado???

        Kung hindi kurapsyon ang tawag duon,ano ang duon?

      • niceguy60

        Eh di kuraption din, ano pa?

      • kulittwit

         abnormal ka talaga andres. iniiba mo na ang meaning ng corruption.LOL!!

      • Andres_Bagumbayan

        Mag-aral kang mabuti upang sa ganuon ay malaman mo ang tunay na kahulugan ng kurapsyon…hindi lamang sa pagnanakaw ng salapi ang kahulugan ng kurapsyon!!! kawawa ka naman,hindi mo alam ang kahulugan ng kurapsyon!!!aral pa,iho…

    • billy gunner

       aquino govt is only bent on propagating dis-and-misinformation to mislead the public from what is really happening. the malacanang communications group is INDEED doing a fine fine job!

    • http://pulse.yahoo.com/_D3LDMMAKC6UDQLDVFP2DGSJBXY Jezzrel

      kulang pa ang gingawa ng amo mo.. dagdagan pa niya…

  • http://pulse.yahoo.com/_NIPR2MWOPGWUNZ4COTAMW7MLKE Mark

    naku eh nag papaniwala naman kayo dito. Maraming dollars ang Pilipinas ngaun (approx 84$ Bn central bank data pa lang yan ha wala pa yung blackmarket) kaya maraming gustong mag negosyo dito at bumili ng stocks. O diba lagi sinasabi ni PNOY stocks..stocks kaya stocks lang talaga ang target nya. Ang tanong nararamdaman ba sa kanayunan ang paglago ng stocks Saan ba nanggaling yang 84$ Bn na yan. Nung panahon ni Cory halos mag donate ang bawat pilipino ng dollars para lang may pangbayad ng utang. Dumami ang mga OFW kaya nakaipon ng dollars – obligado na ang OFW na mag remit thru banks(bagamat may iilan pa ring thru door to door) , nag sulputan ang mga BPO dahil mababa ang labor, bumibili ang CB ng dollars sa spot market kaya dumami ang dollars pero may side effect ng pagka lugi dahil nga sa tumataas ang value ng piso. Kaya habang dumadami ang dollars natin natural lang na dadami ang investors. Eto pa tumataas ang credit rating natin kaya kaya nating bayaran ang mga utang natin – saan ka pa. Kaya pls. lang huwag nyong i credit kay PNOY ang lahat ng nangyayari na ito. In fairness sa mga nauna kay PNOY I rather credit this to FVR and GMA sila yung mga nag pasimuno ng pag attract ng foreign investors pero hindi naman lahat kasi prior to this nandyan na yung P&G , Unilever, Coca Cola, Shell , Caltex, Ford ,Nestle among others

    • http://www.facebook.com/babinski.tero Babinski R Tero

      Hoy Abno Mark, hindi ganun kadali pagpalago ng bansa, dahan2x yan. Mga abnormal.

      • Bisdak_kaayo

        tumpak hindi nga kadali. dahil yung EVAT law na ginawa sa panahon ni Gloria si Pnoy ang nakinabang, at yung mining act na batas ni Gloria ngayon si PNoy ang nakinabang.  Umani ng batikos si Gloria sa mga batas na ito, pero si Pnoy ngayon ang nakinabang. kaya tama ka hindi ganyan kadali.

      • http://pulse.yahoo.com/_NIPR2MWOPGWUNZ4COTAMW7MLKE Mark

        Thank you – kailan ka ba pinanganak at saan ka nag aral. I guess you are a PNOY fanatic. Did you ask yourself ano ang nagawa ni PNOY nung Senador sya. ths is the time of GMA ( iam not a GMA follower coz I dont trust politicians). Sya na rin ang nagsabi wala sya ngayon sa pwesto nya without the legacy of his parents.

    • ClarkInKuwait

      GMA’s rule is characterized by untimitgated corruption from the lowly of the low to the highest position of the land. Everyone knows this. You must be joking!

      • http://pulse.yahoo.com/_NIPR2MWOPGWUNZ4COTAMW7MLKE Mark

        in every good deeds there’s always a bad deed…indeed. The issue here is the foreign investment portfilio not the character of GMA

      • niceguy60

        I agree. Apparently the economic policy of the previous administration is what’s lifting the economy. That’s the reason PNoy says he doesn’t need to do anything. Just avoid corruption. Absolutely. The fruits of the past administration is being realized now. Minus the corruption. But wait lets wait until the term ends. Usually people discover the shenanigans after the term ends. :)

      • http://pulse.yahoo.com/_D3LDMMAKC6UDQLDVFP2DGSJBXY Jezzrel

        mali ka diyan… puro credit sa amo niya ang gusto…

    • http://pulse.yahoo.com/_D3LDMMAKC6UDQLDVFP2DGSJBXY Jezzrel

      correct ka diyan…



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