Shangri-La Hotel, Singapore
19 November 2014


“There is no better time to invest in the Philippines than now.”

In a roundtable meeting during his working visit in Singapore, President Benigno S. Aquino III proudly told members of the Singapore Business Federation and different foreign chambers that the country is becoming the fastest growing economy in Asia and those who are exploring the possibilities to invest in the Philippines should do it now.

“We are further along the path to inclusive growth than we could have ever imagined back then. Our country’s economic growth from 2010 to 2013 averaged at 6.3 percent; last year, we grew by 7.2 percent, despite the spate of disasters we experienced towards the end of the year,” he said.

The President also urged those who have already invested in the Philippines to raise their stake even more as the Philippine economy has maintained its momentum and optimism has never been so high.

“We want that optimism to translate into concrete benefits and opportunities for each and every one of our countrymen, and with the impending integration of the ASEAN economic community, this creates the dynamism that will expand opportunities for others in the region as well,” he remarked.

One of the members of these big business groups is the Keppel Offshore and Marine Ltd., a partner in boosting the country’s shipbuilding industry and has established the first oil rig in the country.

Mr. Gautam Banarjee of the Singapore Business Federation welcomed President Aquino in the meeting while Cabinet Secretary Jose Rene Almendras and Trade Secretary Gregory Domingo led the initial discussions with a question and answer session with the group before President Aquino arrived.

*  *  *