Tuesday, October 10, 2017

Business sectors "very bullish" on economy despite political noise, solid behind the President - Joey Concepcion

Palace  Entrepreneurship Adviser Joey Concepcion, held a press briefing on October 10 / Photo from PCOO

Manila, Philippines - Despite the drop in the President’s net satisfaction rating last quarter, business community remains supportive of Rodrigo Duterte as well as optimistic about the country’s economic goals, says a Palace official.

On Tuesday, Presidential adviser on entrepreneurship Joey Concepcion said that business men recognize the President’s peace and order efforts.

The business community believes that peace and order is important to provide a conducive business environment to spur growth of the country.

In a press briefing, Concepcion said; “Despite the ratings of our President which are slightly down, what really is important is that the business community is solidly behind the President,”

“As you can see, our stock market hit all-time high a couple of days ago. If there is no business confidence, then you won’t see the stock market making a new high,” he said and noted that, both small and large business sectors are “very bullish” despite the political noise happening.

“Right now, the barometer of confidence to me in the business side is pretty high. And that can continue to be maintained if businessmen see that the country is moving forward,” he said.

Concepcion also cited that companies have even expressed interest in the government’s infrastructure program, particularly in airport development.

“We have the unsolicited offer of Ramon Ang of San Miguel for Bulacan and  the Ayala group, very much interested in NAIA (Ninoy Aquino International Airport),” he said.

And added, “And together with the other conglomerates like Lance Gokongwei of Cebu Pacific and Michael Tan, they too would like to be part of this partnership, especially in airport development,”

He also mentioned that there will be more airport infrastructure offers “in the next 60, 90 days.”

Conception is confident that Philippines’ local economy will remain resilient.

Source (s): Manila Bulletin , PCOO