• Business confidence soaring – Lopez

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    Investors’ confidence in the Philippines continues to soar despite criticisms and negative reports on the government’s war on illegal drugs, President Rodrigo Duterte’s Cabinet officials said on Thursday.

    In a news conference on the Philippines’ economic and development plan before the opening of the World Economic Forum in Cambodia, Trade Secretary Ramon Lopez said that the Philippines is a safe country.

    Lopez noted that 82 percent of Filipinos “basically love what’s happening right now,” and investments from the second half of 2016 was “100 percent higher” than the first half of the same year.

    “So a lot of very positive indicators especially on the investments and the investment confidence is here. Business confidence actually has gone up 34 percent when it used to be less than 10 percent and consumer confidence used to be negative number is now positive 14 percent,” he said.

    Lopez said Dutertenomics was one of the ways to inform the public that the Duterte administration is not just focused on its campaign against illegal drugs.

    “Those are the numbers that we’re seeing, that’s showing greater confidence and you see we invite everyone to just ride on the economic growth and this economic breakout and don’t be left behind,” Lopez said.

    “That’s why we are heading this Dutertenomics as a way really to communicate that Duterte is not just about drugs. President Duterte really means business – making big changes. Peace and order situation has to be basic foundation for investments to come in. That’s being addressed,” he added.

    This was echoed by Transportation Secretary Arthur Tugade, who assured businessmen that the Duterte administration’s war on drugs is an effort to “assure an environment of safety and security.”

    “So, on one hand you have no corruption, on the other [hand it is]safe and secure,” Tugade said.
    “So businessmen will be assured of a level playing field, of a safe and secure place of business.”

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