- News in Photo
“The Philippines is open for business and we welcome what you have to offer.”
Thus said President Duterte in a speech before business leaders during his two-day state visit in Singapore.
During his meeting with the businessmen at the Jurong Ballroom of the Shangrila Hotel on Friday, the Chief Executive discussed the many developments and reforms in the Philippines especially in the key growth sectors.
“In particular, we are looking at key growth sectors, such as energy and infrastructure,” Duterte said. “This would mean more investments and encouraging competition, putting an end to protectionism in industries that are monopolized. More competition would only mean better services for all,” he added.
The President encouraged Singaporean and Singapore-based companies to invest in the Philippines by assuring them that his campaign against drugs and criminality have made the streets of the country much safer.
“Over the last few months, we’ve improved our peace and order situation. Filipinos today generally feel safer and the crime has remarkably dropped, especially in the urban areas,” Duterte said.
The President pointed out that his war against drugs and crime has won broad-based support among all socio-economic classes in the Philippines.
The focus in solving peace and order has been rewarded by a 7.1 percent Gross Domestic Product growth during the first three months of the administration, according to Duterte.
The manufacturing sector jumped by almost seven percent, generating more decent jobs. As a result, unemployment figures improved to 4.7 percent from 5.4 percent and 6.5 percent in previous quarters.
Singapore is the country’s largest trading partner and the largest source of investments in the Association of Southeast Asian Nations. (Elena L. Aben)