GOOD governance, the Aquino administration’s guiding principle, ensures that public-private agreements are mutually advantageous and safeguard the people’s interest.
Socioeconomic Planning Secretary and NEDA Director-General Cayetano W. Paderanga Jr., said during the 45th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) that the country improves a lot in the area of governance since President Aquino assumed the presidency in 2010.
President Aquino led last week the opening ceremonies of the 45th Annual Meeting of the ADB thanking the financial institution for continuously assisting the country in combating poverty and pushing reforms.
The Philippines, Paderanga said, has improved its competitiveness ranking based on the Transparency International Corruption Perception index and the World Economic Forum Competitiveness Rankings.
With its current ranking, the Philippines is considered an emerging market economy in the region and is poised to become an influential economy in the coming years, Paderanga said.
The country’s potential lies in the key growth areas of agribusiness, business process outsourcing and tourism, he said.
The Public-Private Partnership (PPP), being spearheaded by the Aquino government, is also considered by experts as the catalysts for change and development. The PPP gained momentum with the approval of the Daang Hari-SLEX Link Road, they said.
The Philippines hosted this year’s meeting of the ADB Board of Governors with the theme “Inclusive Growth through Good Governance.”
The government hopes that ADB’s annual meeting in the Philippines would result to additional investment in the country as well as the influx of more foreign tourists. (PCOO)
