Davao City Chamber of Commerce and Industry Inc. (DCCCCII) President Daniel Lim recently lauded the Aquino administration for the country’s rating upgrade to “Baa3” from “Ba1” by Moody’s Investors Service.
“This is a clear acknowledgement of the economic and governance gains of the Philippines under the Aquino administration,” said Lim adding that “the partnership of the government and private sectors has substantially contributed to the rating’s positive outlook.”
He said that the rating upgrade is a result of the government’s good governance and sound fiscal management, coupled by the private sector’s strong commitment to pursue business growth, which have spurred the country’s high economic performance.
Lim also underscored the contribution of Mindanao’s business players to the nation’s overall economic growth, with its 8.2-percent gross domestic product growth for 2012, higher than the country’s 6.8 percent for the same period.
“Mindanao continues to thrive on its strength and resilience as an island economy, being the country’s premier food source and agri-business producer that accounts for 60 percent of the country’s total agricultural exports,” he said.
DCCCII was the lead organizer of the 22nd Mindanao Business Conference held in August this year, which gathered the region’s business chambers and convened more than 800 key business players from across Mindanao.