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NEDA chief says dignitaries, economic experts remain confident on PHL economy

NEDA chief says dignitaries, economic experts remain confident on PHL economy
By Joann S. Villanueva

MANILA (Philippines News Agency) — Socioeconomic Planning Secretary Ernesto Pernia said dignitaries and finance and economic experts remain confident on the Philippines and are not worried about some negative news reports on the country.

Pernia, who is concurrent director general of the National Economic and Development Authority (NEDA), said he recently met with executives of Moody’s Investors Service and Goldman Sachs, who he said expressed surprise at the difference between the actual situation in the Philippines and what comes out in some news reports.

He said some foreign chambers in the Philippines have expressed concern over the current situation in the country but pointed out that “even the embassies are not that concerned because they keep coming here”.

“One thing to talk about is possible investments,” he said, citing that French officials have indicated interest in investing in the country’s transportation sector, including railways and airports.

Pernia said Belgian and South Korean officials have likewise expressed their intention to invest in the Philippines.

He disclosed that in his recent trip to the US, where he represented the country during the week-long United Nations (UN) General Assembly in New York City on Sept. 18-23, he had meetings with representatives of several credit rating agencies to discuss realities on the ground.

He said representatives of debt watchers have been assured that domestic fundamentals remain strong, growth is still robust and the government is firm on reducing inequality and poverty.

Pernia said he emphasized during these meetings that the country’s peace and order program aims to lure more investments and improve the investment climate. (PNA)

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