Aquino basks in positive reviews from Moody’s, OECD

MOODY’S Corp. and the Organization for Economic Cooperation and Development (OECD) highlighted the Philippines’ improving economic position at the Asia-Pacific Economic Cooperation (APEC) Chief Executive Officers’ (CEO) Summit, a Palace official said.

Moody’s Corp. President and CEO Raymond W. McDaniel, Jr. — who called on President Benigno S. C. Aquino III in Beijing on Sunday — congratulated the government for obtaining several ratings upgrades in a short period, Presidential Spokesman Edwin S. Lacierda said in a note sent to reporters.

The Palace spokesman noted that OECD Secretary General Jose Angel Gurria for his part told delegates to the APEC Chief Executive Officers’ Summit that despite challenging and uncertain global scenarios, “the Philippine government has implemented polices that sustain the country’s competitiveness.”

“And, therefore… the question of investment becomes critical — investment and innovation. But what about investment and innovation as a critical variable in terms of the policies necessary for our competitiveness? Now, I have to say here, President Aquino has done a great job in this score. Actually, it is very impressive. In doing business, the ranking went up just like a rocket. That’s doing very well,” Mr. Lacierda quoted Mr. Gurria as saying.

Meanwhile, the President also invited investors in his remarks before the CEO summit on Sunday. He cited the country’s improving economy backed by reforms being implemented in government, including a review of key laws with the intent of fostering a conducive business climate as well as increased investing in infrastructure and education.

On the sidelines of the CEO summit, Mr. Aquino also met with leaders of French pharmaceutical company Sanofi SA, and health care company Johnson & Johnson. — Imee Charlee C. Delavin, Businessworld