TANAUAN CITY, Batangas, Aug 13 — President Benigno S. Aquino III assured investors that this administration continues to institute reforms to fuel the Philippines as a suitable investment haven and one of the fastest growing economies in Southeast Asia.

“Our reforms were planned to yield the maximum benefit for both the Filipino people and for those who wanted to partner with the Philippines,” the Chief Executive said in his speech during the inauguration of the new factory of the Brother Industries Philippines at the First Philippine Industrial Park in Barangay Ulango here on Monday.

The President said his government, likewise, remains committed to meet key challenges such as building sustained economic growth, mitigating business risks, and fostering environmental sustainability, in a bid to improve the country’s business climate.

“For example, weeding out corruption in government does not only assure a higher quality of public service; it removes unnecessary risks and threats to business for investors like you. Improving our national road network-including roads here in Batangas-and constructing and upgrading transport hubs facilitate ease of travel for all-from our countrymen, to travellers here in the Philippines for leisure or business,” the President said.

The President said the move of the Brother Group to put up a new manufacturing facility in the country will boost the country’s manufacturing sector.

“Today's inauguration is especially significant, in light of our government's desire to foster the complete revival of our manufacturing sector. There was a time when our neighboring countries were the favored destinations-when manufacturing in the country lagged, and the focus turned to service industries, such as Business Process Management,” he said.

“The good news is we have actually noticed an upswing in Philippine manufacturing in the past few years. I have witnessed this personally, visiting facilities that manufacture components for Airbus and Boeing airplanes, luxury goods, and electronics, as well as shipbuilding yards, to name a few. Recent numbers also reflect this: for the first quarter of 2013, manufacturing grew by 9.7 percent, making it one of the biggest contributors to economic growth,” the President added.

He thanked the Brother Group for expanding its business in the Philippines and assured the Japanese investor company that the government will always support its endeavours now and in the future.

“Your decision to set up shop here assures us that we are doing the right thing, that the country is on the right track-towards the resurgence of industry, the creation of more jobs, and a future of sustainable, broad-based growth,” he said.

The President also congratulated Brother Industries Ltd. for its accomplishments in its business operations not only in Japan but in many parts of the world.

“Your achievements are not a product of chance; your success was borne of hard work, strategic decision-making, and a finely tuned sense for business. Your long history tells us that it was not luck that brought you here. No company would decide to invest 5.59 billion pesos, construct two different facilities, and eventually hire a 3,500-strong workforce on a whim. For Brother Industries, the Philippines was the strategic choice,” he said. (PCOO)

By pia.gov.ph

The post PNoy assures investors of continued reforms appeared first on Asean Investment | Marc Djandji Blog.