By JOSEPH G. LARIOSA

(© Journal Group Link International)

Vice President Binay Bares in Washington, DC, Bullish News from the Philippines

V ice President Jejomar C. Binay told his hosts in Washington, D.C., this week that the Philippine economy is bullish whose “GDP grew by 7.3 percent last year, the most robust growth we have seen in 24 years.”

At the penultimate day of Mr. Binay’s five-day official visit, Consul Emil Fernandez, press information officer of the Philippine Embassy, provided this reporter some of the insights of Vice President Binay’s visit to the nation’s capital that was made possible through the invitation of the World Bank.

In Mr. Binay’s two-day meetings with top business leaders of the U.S-ASEAN Business Council (USABC) and the U.S. Chamber of Commerce (USCOC) on Thursday and Friday, his message was the same: “I come to the U.S. capital at a time of great hope and optimism in the Philippines, both in our political and economic lives.

"We announced earlier this week that our GDP grew by 7.3% last year, the most robust growth we have seen in 24 years.”

And he also conveyed the message of the President Noynoy Aquino’s government that it has nothing but “good governance agenda and the many strategic opportunities for collaboration with key U.S. companies and investors and public-private partnership (PPP).”

Philippine Ambassador Willy C. Gaa elaborated that Vice President Binay’s roundtable discussions with key business leaders “provided excellent platforms to exchange views on opportunities for strengthening US-Philippine trade relations.”

USABC President Alexander Feldman thanked Vice President Binay and the Philippine business delegation for their willingness to engage American investors on key areas of mutual interest. “U.S. companies are long-term stakeholders in the Philippines, and are excited about what we’ve seen during the early months of the Aquino Administration,” said Feldman.

Feldman added, “We look forward to continuing to work with our partners in the Philippines to support expanded investment opportunities and the continued growth of the economy.“

USCOC’s Vice President for Asia, Tami Overby, noted that “the Chamber companies welcomed hearing the Vice President and his colleagues describe some of the new economic initiatives launched by President Aquino’s government in recent months.

U.S. company representatives also appreciated the Vice President’s expression of Philippine interest in joining the Trans-Pacific Partnership (TPP) agreement down the road.” Ms. Overby added “the Chamber will be happy to work with both governments to help make Philippine membership in the agreement a reality.”

T he Philippine business delegation was led by Philippine Chamber of Commerce and Industry (PCCI) immediate past president and Honorary Chairman, Edgardo Lacson, included Mario Oreta, president of Alphaland Corporation, Luis Virata, chairman of Coastal Road Corporation, Henry Sy, Jr., CEO and vice chairman of SM Development Corporation, Shirley Plaza, president of Woodland Real Estate Development Corporation, Elizaldy Co, chairman of Sunwest Group Holding Company, Ronald Ang, vice president of Sunwest Group, Kheng Tek Kong, adviser to SM Development Corporation, and Jack Arroyo, director of the Philippine Health Insurance Corporation. Mayor Jejomar Erwin C. Binay of Makati City, the Philippines’ premier financial district, also joined the business roundtables.

USABC’s member companies that joined the roundtable included the Coca Cola Company, Peregrine, Freeport-McMoRan Copper & Gold, AT&T, C&M International, GSK, Medtronic, Deloitte LLP, Oracle, Jacobs, and Eli Lilly and Company, while the member companies of USCOC that participated in the breakfast roundtable were representatives from Boeing, Caterpillar, IBM, and Philip Morris International.

Mr. Binay’s party arrived in Washington, D.C. on Jan. 31 and left Saturday, February 5, 2011.

The Vice President was invited by the World Bank to speak on disaster and risk management and urban development during the annual meeting of the Sustainable Development Network (SDN).  This Network promotes economic growth strategies using concepts that are environmentally and socially sound. # # #

Editor’s Note: To contact the author, please e-mail him at:  (lariosa_jos@sbcglobal.net)