Foreign Affairs Secretary Alan Peter Cayetano has expressed confidence that the United States (US) will continue to consider the Philippines a competitive destination for their business and investments.
This, as Finance Secretary Carlos Dominguez and the Philippine economic team are in the US until October 15 to present the administration’s economic policy thrusts and reform agenda.
“This mission is a great opportunity for the economic team to highlight to US policy makers and the business community the incredible potential of the Philippine economy, which continues to be the fastest growing economy in the most dynamic sub-region in the fastest growing area in the world,” Cayetano said in a statement.
Cayetano underscored that in trying to better understand the Philippines and in making investment decisions, there is no substitute to a face-to-face meeting with the Philippine economic managers.
“The visit of Secretary Dominguez and the economic team is an important follow-up to our mutual efforts to advance the core economic interests of our two countries, and I look forward to joining the economic team in some of their meetings,” he said.
The country’s economic team conducted an economic briefing on Wednesday to influential leaders for an in-depth analysis of the Philippine economic and political situation and the opportunities it offered for investors, both in capital markets and in industry.
The team will then proceed to Washington DC for the annual meetings of the World Bank and the International Monetary Fund, which will bring together the world’s central bankers, ministers of finance and other key government officials in the US capital to discuss the world economic outlook, aid effectiveness and other relevant concerns. (PNA)