Shangri-La Hotel, Sydney, Australia
25 October 2012

President Benigno S. Aquino III proudly named some of the developments in the Philippine economy and governance during his meeting with the Asia Pacific Australia and the Australia Philippine Business Council held at Shangri-La Hotel in Sydney.

The President said in his speech that the government is investing in its people by empowering them and helping them become healthier and wealthier as they are the partners of the government in building the nation. Thus, his administration is investing heavily on education by providing more classrooms, chairs and tables in public schools so that the backlogs on school supplies and other materials will be eradicated by 2013. The government is also focusing on providing universal healthcare thru the national health insurance program. Moreover, the scope of the Conditional Cash Transfer (CCT) program is being expanded in order to address the immediate needs of the poorest sector of the Philippine population. The program now assists 3.1 million Filipino families and has kept 4.57 million Filipino children in school. Fiscal prudence, the government’s commitment to transparency and its anti-corruption campaign also remain as the top priorities of President Aquino.

President Aquino explained that the government’s reform programs have been encouraging and has surprised onlookers with its visible positive results. He proudly stated that “despite the current period of downturn due to global economic uncertainty, the Philippines has navigated itself into the sweet spot where we are enjoying a continuous expansion of business and services.” He then mentioned positive remarks in the Philippines’ economy by some international organizations and top executives of large industries worldwide including the World Economic Forum’s recent annual global competitiveness report.

Earlier, President Aquino met with the members of Asia Society Australia and the Australia Philippines Business Council in a roundtable discussion.

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