The Philippines has
just begun harnessing its potentials, says President Aquino
MANILA, Oct. 28 (PNA) -- Few months before stepping down from power,
President Aquino said his administration has laid the ground work that
future administrations could build on to further harness the country's
"Looking back on everything that has happened over the course of my
administration, I tell you today the best news of all: we’ve only just
begun," the President said in a speech during the 41st Philippine Business
Conference in Marriott Hotel on Tuesday.
"While we have already achieved so much, I submit that we have not even
scratched the surface of what the Philippines has to offer, which is why we
have to nurture these beginnings."
The President said there's a need to protect the successes that the Filipino
people have made and the country must continue to build on them.
Sustained good governance likewise means sustained good economics, he told
businessmen. And if it's when bolstered by a depth of experience and
ironclad integrity, it accelerates inclusive growth, he added.
At the same time, he said he is confident that like the rest of his
countrymen all over the world, local businesses will do their part to ensure
that the Philippines rises to greater heights.
"The world has already begun witnessing what the Filipino is capable of, and
I am convinced that, if we continue working together, we can show them even
more of our boundless potential, and ultimately prove that nothing is
impossible to a united Philippine nation," the President noted.
He said he already directed his Cabinet Secretary to prepare the appropriate
response to some of the issues raised by the business sector although many
of those concerns are now being addressed by the government.
"We’d like to tell you that a lot of it is already being addressed, and we’d
like to tell you what to expect in the last eight months of our
administration," he told the businessmen.
Among the successes mentioned by the President include the rapid growth of
the country's gross domestic product, with an average rate of 6.2 percent in
the last five years of the administration. This is the the fastest five-year
average growth in nearly four decades.
From 2010 to 2014, he said the country increased net foreign direct
investments by almost six-fold. The Philippines also recorded the lowest
unemployment rate in a decade.
Also, the Philippines received 22 positive credit rating actions, with the
most momentous ones coming in 2013, when Moody’s, Fitch, and Standard &
Poor’s all declared the Philippines investment grade, according to the
The government has also vastly expanded the Conditional Cash Transfer
Program, with around 4.4 million household beneficiaries receiving cash
It has also implemented the K to 12 reform to ensure that Filipino youth
have a strong foundation for further learning, or employment, he said.
"Technical and vocational education has perhaps never been stronger,
especially now that our Technical Education and Skills Development Authority
(TESDA) is working more closely with the private sector to implement
training programs," he said.
State universities and colleges are also implementing reforms to become
truly relevant to the needs of communities they serve and the demands of the
job market, he noted. (PNA)