President Marcos has set a higher fighting target of 7-percent economic growth for the Philippines despite all the global headwinds this year as his chief private sector adviser expressed optimism that the country could be be the “next big thing” in Asia.
The President said the country’s strong macroeconomic fundamentals, fiscal discipline, structural reforms and liberalization of key sectors instituted over the years have enabled it to “withstand the negative shocks caused by the pandemic and succeeding economic downturns and map a route toward a strong recovery.”
Aboitiz, who has been friends with Marcos for decades, said the president’s strong faith in working with the private sector could help the country raise the large amount of money needed to build crucial infrastructure like roads, seaports and airports and revitalize the agriculture sector. “I think Philippines is really gonna be the next big thing in Asia. We are very excited to work with the government today because we see that they really appreciate the private sector,” he said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Marcos admin expects Philippines to grow by 6.5% in 2023The Philippine economy is likely to sustain a 6.5-percent growth rate this year, one of the fastest pace of expansion seen in the region, Finance Secretary Benjamin Diokno said on Monday. | Philbizwatcher /PDI
Read more »
Marcos says Maharlika fund will diversify Philippines' financial portfolioPresident Ferdinand "Bongbong" Marcos Jr. on Tuesday (Wednesday, PH time) underscored that the proposed Maharlika wealth fund was among his administration&39;s measures to diversify the country&39;s financial portfolio.
Read more »
Bongbong Marcos says Philippines to resist ‘recessionary forces’DAVOS, Switzerland/MANILA - Philippines President Ferdinand Marcos Jr said his country would resist global recessionary headwinds, but warned that increasing tensions in the South China Sea were
Read more »
President Marcos is traveling too frequently - BusinessWorld OnlineLast Sunday, President Ferdinand Marcos, Jr. flew to Davos, Switzerland to attend the World Economic Forum. That is his 8th trip abroad since he became president on June 30, 2022. The previous trips were to Indonesia on Sept. 6 for a two-day state visit. He proceeded from there to Singapore on Sept. 9, also for […]
Read more »
Romualdez: PH can lure investments at WEF despite possible global slowdownPresident Ferdinand Marcos Jr. can attract investments at the World Economic Forum by dangling the strong economic standing of the Philippines and Southeast Asia even with fears of a possible global economic slowdown. | GabrielLaluINQ
Read more »
Marcos: Asia Pacific determined to do away with Cold War mentalityCountries in the Asia-Pacific region are united and determined to do away with the Cold War mentality, President Ferdinand Marcos Jr. said, adding that those nations should decide their own destinies away from intense geopolitical rivalry. | DYGalvezINQ
Read more »