PRESIDENT Aquino remains upbeat about getting further credit-rating upgrades in order to boost his administration’s drive to lure more investments for the Philippines in 2015.
“A promising future beckons for us all as we near the fifth year of daang matuwid and open yet another chapter in our journey toward the fulfillment of our collective aspirations,” Mr. Aquino said on Tuesday in an advance copy of his New Year’s message sent to Palace reporters.
President Aquino acknowledged that the previous year was a “fortunate time” for Filipinos, recalling that 2013 saw the country securing investment-grade status from the three most prominent credit-rating agencies in the world.
“In 2014 we sustained this upward trajectory as, last May, Standard & Poor’s gave us another ratings upgrade, followed by Moody’s this November,” he added.
Mr. Aquino affirmed that these successive upgrades made the Philippines a more attractive destination for investments and tourists, both of which, he said, have seen significant increases that helped create more jobs and further stimulated the economy.
“These gains have provided us the wherewithal to fund vital measures like the Expanded Conditional Cash Transfer Program, which now covers beneficiaries with children up to 18 years old, and meets our backlog in books, chairs and classrooms,” he said.
The President reported that it, likewise, enable the government to expand initiatives like the Tech-Voc Education and Training and Work for Scholarship Programs.
He said these ensured “that our people can maximize the opportunities made available at this critical juncture in our history when we reach our demographic sweet spot and realize the Asean Economic Community by 2015.”
Mr. Aquino also cited the signing of the Comprehensive Agreement on the Bangsamoro in March, saying it means that genuine, lasting peace in Mindanao is finally at hand, opening the floodgates for tourism and investments to the island.
“We expect development to further hasten once the Bangsamoro basic law is passed,” President Aquino added.
At the same time, the President reported strides made in terms of disaster preparedness, noting that both the national and local governments were seen “performing better this year.”
“We saw this in action when Mayon Volcano erupted and Typhoon Ruby came to our shores,” Mr. Aquino said. “Learning from past experiences, we prevented a drastic loss of lives and property, earning the praise and admiration of the international community.”
But he specifically credited “our front-liners, first-responders, volunteers, and partners from the private sector, whose contributions, preparations, and response to these calamities made this achievement possible.”
“Indeed, by putting our trust in each other, by doing our share, and by remaining steadfast on the straight and righteous path, we have ushered in a new and transformed Philippines,” Mr. Aquino said.
