Topic: “Governance as Stimulus to Economic Growth”

            It is my pleasure to join the Philippine Chambers of Commerce and Industry to usher in the 38th Philippine Business Conference and Expo. I am particularly pleased to see friends from shores both distant and close here with us today.

            I would like to personally extend the country’s warmest welcome to our guests from Russia, Turkey, Oman, Myanmar, Sri Lanka and Iraq, among others, who have shown interest in investing in various sectors in our country. Our government looks forward to deeper relationships between all of our nations, and it is my hope that this conference will give you a front-row view of the Philippines as a viable investment destination. Thank you for your invitation.

            I am also elated to learn that a memorandum of understanding between the chambers of commerce of the Philippines and Oman will be signed, pledging regular exchange between the business delegations of both countries. This is, indeed, a very promising synergy, one which I urge the other foreign delegations to examine and pursue as an instrument for cementing mutually beneficial economic ties.

            We convene at a time when the currents of economic uncertainty that have swept the West have yet to fully recede. As the business communities and governments from the Western world look to emerging markets such as Eastern Europe, Africa, and Asia for more tranquil waters, we are privileged to present where the Philippines is and what it can offer to satisfy investment appetites.

            The Aquino administration has done much to plot a socially equitable course of governance, and the strong multi-stakeholder approach that typifies its work ensures that the country stays on an even keel.  But as we build on the successes of the reforms that we immediately put in place early in this government’s term, we remain well aware and firmly committed to raising the bar that we measure ourselves against.

            The Philippines has been registering a significant increase in credit ratings and confidence levels in the leading development bodies, particularly Standard and Poor’s and Moody’s. There is widespread confidence that an investment grade status is already within reach and already, in the first half of 2012, the Philippines recorded an increase in real GDP by 6.1%.

            Political reforms have in great part made these strides possible. Old specters such as corruption, human rights abuses and electoral fraud have been cast out through the political will exerted by the current leadership. In this crusade towards equitable and just development, the Filipino people continue to bestow the highest trust in President Benigno Simeon Aquino III, who to this day is free from the taint or suggestion of corruption, and those of us who occupy the highest positions of national leadership.

            The President’s hard-line stance on issues has fueled the Filipino people’s faith that all they aspire to is indeed within reach. This focused and uncompromising approach in tackling the hard issues that the Philippines faces is our bond with countries who seek to be our partners in economic development. Part of our ethos is the cornerstone belief of minimized intervention by government in the business sector, while maximizing the gains of growth by translating the influx of resources to socially beneficial goods and services such as health, education, and mass housing.

            In my own capacity as housing czar, good governance carries great weight in making the vision of providing 3.6 million houses to Filipino families a tangible reality. To be able to complete this goal, nothing less than a nation-wide collaboration between all the stakeholders is necessary to succeed. Besides engaging private sector players, strengthening the ability of all local governments to implement proper zoning and land use is crucial so that the gains from the land are maximized.

            As well, the symphony between government and private sector finance institutions must be arranged so that the entire effort gains proper velocity both from the development and purchaser angles.

            With an effective land use plan instituted on a national scale, long-standing problems such as traffic management, responsible industrialization, and sustainable clean environments can be resolved and the seeds for countrywide modernization can sprout. Informal settlements that are located along danger zones can likewise be addressed and their residents be given credible chances to live dignified and productive lives.

            No less than the World Bank has recognized our efforts at improving the lives of our fellow citizens through the provision of housing in an efficient, transparent and multi-sectoral way. At the moment, we at the housing sector, along with the said financial body, are formulating the National Informal Settlements Upgrading Strategy or NISUS that will be used to create a comprehensive shelter plan for informal settler families.

            The shelter plan will ensure that informal settler families will have access to basic social services such as schools, public markets, health care centers, and livelihood opportunities at the resettlement areas.

            Meanwhile, as head of the country’s anti-human trafficking body, I have had the privilege of overseeing the Philippines’ steady progress against the benchmarks set by the   global community.

            We have earned praise from the US State Department for these timely achievements, but equally important, our efforts have helped ensure that our technical and funding synergies with foreign governments continue unabated.

            The sum of our progress is not lost on our brothers who have left for foreign shores to find work or build new lives. Firm changes in the political realm have made them the first to invest in their homeland. Apart from the remittances that they send unfailingly, they are looking hard at putting their money into businesses that deserve their patronage.

            In my recent trip to Iran for the meeting of the Non-Aligned Movement, for example, I was indeed pleased to speak with Filipino women married to Iranian nationals who were interested in putting their money back home.

            I have assured them that I would bring their clamor regarding the issues they had presented to me, to the attention of the President, and I am supremely confident that His Excellency and I are one in wishing to find a suitable avenue for their patriotism and love.

            My friends,

            I have provided a broad view of the landscape we see before us. The hues are indeed rosy and I am sure you are most eager to see the details that give this picture its richness. Over the course of three days, you will be apprised of the state and nuances of the Philippine economy. You will see the strokes that government and the private sector have painted into this living opus. It is a work which all are welcome to help complete and I pray that before this conference adjourns, the vision will entice all to lend their colors and hands to this canvass.

            During the 25th anniversary of the Chernobyl incident, Prime Minister Dmitri Medvedev said that, “The duty of government is to tell its people the truth. One must admit that the government did not always behave in the right way.” We have embraced this noble duty and have made amends for whatever the past has bestowed on us.

            Here today, it is my distinct honor and pride to say that the Philippines is a sound investment destination and it is my hope that our businessmen and yours can forge strong prosperous ties in the coming days.

            Thank you once again, and good morning.

            Mabuhay kayo!