The president of the Australian-New Zealand Chamber of Commerce Philippines is optimistic on the capability of the Duterte administration to implement programs that would further boost domestic growth.
ANZCHAM’s Tom Grealy said he ignores the political noise criticizing the Duterte administration and instead relies on the country’s economy fundamentals.
He said debt rater Moody’s Investors Service has came out with a positive assessment on the current administration’s 10-point economic agenda, which he said ANZCHAM supports.
“The key is to get that 10-point plan implemented. Moody’s noted that the president has enormous political capital and how he chooses to use that is what’s important now,” Grealy said at the sidelines of the gala dinner that closed the year-long celebration of the 70th anniversary of Australia-Philippines diplomatic relations Thursday, November 24.
“As the president of the country, your country, he (President Rodrigo R. Duterte) can do what he wants but we’d love to see him put those efforts on those 10-point agenda. And to open up the economy and to drive jobs,” he said.
The Duterte administration’s 10-point program is an enhancement of the previous administration’s economic plans aimed at sustaining the above-six-percent growth trend in the Philippines economy.
Grealy said that since domestic fundamentals remain strong, the burden is now on the government to implement its economic program and whether government agencies have improved on their absorptive capacity.
“I’m very optimistic about the Philippines. I’m very optimistic about opportunities on business,” he said.
He noted that “the economic team in this administration is incredibly purposeful.”
“People who have been around, observing the Philippines, talk about this as the most purposeful, fastest-moving, most driven economic team seen in any administration. And you can feel it,” he said.
“You can feel that they got a big agenda, that they’re serious. They are here to strut their stuff to hit the job.”
Source: Manila Bulletin