Aquino invites investors to expand investment in Phl

MANILA, Philippines (Xinhua) - President Benigno S. Aquino III is encouraging investors to consider expanding their respective businesses in the country since it is now in a better position to meet their requirements.

In a speech delivered in today's opening of the Philippine Investment Forum 2013, Aquino said investors will benefit from the country's highly skilled labor force, steady growth and the government's commitment to stamp out corruption.

"This is not an empty promise, you will have the Filipino people and our administration as committed partners," he said.

Aquino cited the Filipino workers, who he said are creative, hard working and adept in communicating in English. The high quality of Philippine labor force has ensured the success of the business process outsourcing industry (BPO), making the Philippines among the top BPO sites in the world.

"Given the opportunity, they (Filipino workers) will do the same for you, whatever industry you may be involved in," Aquino said.

Aquino said investing in the country is also timely given the recent achievements of the Philippines from credit rating upgrades to record high stock exchange index and growth rates.

He said potential investors could consider investing in three priority sectors: agriculture, which is the source of income for some 12.1 million Filipinos; tourism, which expects some 56 million visitors by 2016; and infrastructure, which will support agriculture and tourism through the development of road networks, ports, and airports that will ensure the safety and efficient passage of tourists and goods across the country.

The President also said that since assuming office in 2010, his administration had focused on weeding out graft and corruption to provide a level playing field from reforming the judiciary to streamlining the process of setting up companies in the Philippines and following the proper bidding and procurement processes.