PGMA trips put RP in radar screen of investors

September 20, 2009 11:20 am 

LONDON, Sept. 20 — From basket case to one of the world’s top investment destinations among emerging markets.

This was how President Gloria Macapagal-Arroyo on Saturday described the Philippines today as she explained to members of the Filipino community here the purpose of her global engagements.

“Ang biyaheng ito ay bahagi ng ating pagkalahatang stratehiya (This trip is part of our overall strategy) to engage the global community, to benefit our economy, to promote the welfare of our overseas Filipinos, and to enhance our national security,” she said in her speech at the Intercontinental Park Lane hotel.

Her global engagements, the President said, have helped the Philippines obtain vital opportunities in trade and investment that have in turn helped the country achieve an unprecedented 34 quarters or eight years of uninterrupted growth.

“It is this achievement that enables us to withstand the recession that is now raging around us,” she emphasized.

Despite the global downturn, the United Kingdom remains one of the leading foreign investors in the Philippines.

That is why, the President said, all care must be taken not to lose the UK as an important portfolio investor.

“We have to affirm to them the Philippines’ resilient economy, improved credit ratings, and continued fiscal reforms have produced a country with an economy that should be in every emerging market investor’s portfolio,” she explained.

The President related to members of the Filipino community her elation over the selection of the Philippines as one of the top emerging market destinations for investors during the Emerging Markets Summit of organized by news magazine “The Economist”, which she attended Friday.

She said the country has become the favorite business process outsourcing and call center destination of British firms since she led a BPO investment mission here four years ago.

This, according to her, has led to the naming of the Philippines last year as “Outsourcing Destination of the Year” for British companies.

After her speech, the President gamely hopped from table to table and posed for photo opportunities with Filipino migrant workers.

On Sunday morning, she is scheduled to attend mass at the Church of the Immaculate Concepcion here before departing for Dammam, an eastern province in Saudi Arabia for the third and final leg of three three-nation swing that started in Turkey last Wednesday. (PNA) LDV/OPS/rsm

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