Moody’s Corp. President and CEO Raymond McDaniel Jr. conveyed over the weekend his firm’s acknowledgement of President Aquino’s steady stewardship of the country’s economy during a courtesy call at the Philippine embassy in Beijing on the eve of the Asia-Pacific Economic Cooperation (Apec) summit.
According to Palace Spokesman Edwin Lacierda, McDaniel praised Mr. Aquino for “the Philippines’s remarkable performance”, as well as the positive outlook the country continues to enjoy despite a slowing global economy. In turn, Lacierda said, Mr. Aquino passed on the credit to his having a “good Cabinet whose members make personal sacrifices to serve the country.”
The President also took the opportunity to outline the government’s targets for the Supertyphoon Yolanda (international code name Haiyan) rehabilitation and recovery policy of building better structures to break the cycle of destruction and rehabilitation in vulnerable communities, Lacierda added. Mr. Aquino, he said, also informed the Moody’s official that the Philippine government is doing all it can to make sure the country remains “Ebola-free.”
At the Apec CEO Summit, Lacierda reported that President Aquino was, likewise, commended by Organization for Economic Cooperation and Development Secretary-General Angel Gurria, who informed attending CEOs that the Philippine leader was able to implement policies that sustained the country’s competitive footing “despite the challenging scenario of global uncertainty”.
Guria said: “Therefore, we have a very challenging scenario and the question of investment becomes critical—investment and innovation. But what about investment and innovation as a critical variable in terms of the policies necessary for our competitiveness? Now, I have to say here, President Aquino has done a great job in this score. Actually it is very impressive. In doing business, the ranking went up just like a rocket. That’s doing very well.”
In a statement, Malacañang said President Aquino began his Apec-Asean trip by attending the Apec CEO Summit 2014 in Beijing, where he shared the positive news of our country’s economic revival to other world leaders and company CEOs.
Deputy Spokesman Abigail Valte reported that it was after the session that the President had a series of business meetings with Moody’s, pharmaceutical company Sanofi and health-care company Johnson & Johnson.
“This morning, President Aquino held bilateral meetings with the prime ministers of Canada, Thailand, New Zealand and Papua New Guinea. Later he is scheduled to attend the Apec Business Advisory Council Dialogue with Leaders, where Council members—renowned business leaders—will present Apec leaders with their recommendations on such topics as finance and infrastructure,” Valte told reporters on Monday.
She added, that on Tuesday, President Aquino will attend the Apec Economic Leaders’ Meeting, where world leaders are expected to discuss trade and regional economic integration, among other concerns. Coinciding with the 25th anniversary of Apec’s founding, this meeting also serves as a turnover of hosting duties from China to the Philippines, since Manila will be hosting Apec from next month until November 2015.