Replicating nationwide the economic progress of Makati City
Foreign investors are assured of a stable business environment if Vice President Jejomar Binay wins the presidency in the 2016 May election.
“Vice President Binay is committed to pursue economic reforms but will introduce efficiency, consistency, decisiveness and a sense of urgency,” said Binay spokesperson Joey Salgado in a report in the Philippine Daily Inquirer.
Vice President Jejomar Binay (3rd from left) was the keynote speaker at the recent Natural Gas Forum 2014, joined by (from left) former DOE Undersecretary Jose M. Layug Jr., SPEX managing director Sebastian Quiniones, and Shell Eastern Petroleum Pte Ltd senior deal lead-Asia Scott Porter.
Salgado reacted to an observation by the London-based Economist Intelligence Unit (EIU) that foreign investors are holding on to their pockets as they await results of the election.
“Foreign investors are closely watching the coming elections and are likely to adopt a wait-and-see stance in 2016 pending the change in administration in the middle of the year, according to the EIU in the report.
The EIU is the research and analysis division of the Economist Group, a sister company of London’s The Economist weekly newspaper.
Analyzing the Philippine election, EIU said Binay’s popularity with the masses could make him win the Presidency in the 2016 election.
“There is a risk that a more populist figure, such as the current Vice President, Binay, will win,” said the EIU.
Explaining the pre-poll “wait-and-see” attitude, EIU said that “an impending change in administration raises risks of policy instability during the transition phase. During this phase, investment is likely to dip slightly.”
Salgado said investors could trust Binay whose tract record as financial manager has been proven when he served for two decades as mayor of the Philippines’ financial capital.
Being a former mayor of Makati City, the country’s main financial center, Binay recognizes the important role of the business sector in moving the economy forward,” said Salgado.
Salgado said Binay’s economic programs would pursue inclusive growth to address poverty and unemployment.
“Economic growth must both be sustainable and shared with the poor and marginalized sectors. Jobs must be created by allowing more foreign investments especially in agriculture and improving the way government works,” he said.
Binay’s campaign platform stands on a vision of replicating nationwide the economic progress achieved by Makati City under his mayorship.
Salgado said results of latest surveys for presidential preference topped by Binay showed a growing appreciation of the Vice President’s experience and competence as an executive.”
The survey results also indicate that Filipinos will not entrust the economy to the inexperienced, the unpredictable and performance-challenged, said Salgado.