APEC CEO Summit: PNoy praised, tells executives to invest in PHL now

President and Chief Executive Officer Raymond McDaniel Jr. of Moody’s Corporation, holding company of Moody’s Investors Service – a credit rating agency, praised President Benigno S. Aquino III for becoming a good steward of Philippine economy. According to McDaniel, during the watch of Aquino the country gained several rating upgrades in a short period of time.

Presidential Spokesperson Edwin Lacierda said that McDaniel complimented Aquino’s performance and positive outlook amid global economy’s slow down while on Asia-Pacific Economic Cooperation (APEC) Chief Executive Officers (CEO) Summit, Sunday.

Secretary General of Organization for Economic Cooperation and Development (OECD) Angel Gurria also recognized Aquino’s policies that sustained country’s competitiveness.

“And, therefore, we have a very challenging scenario and the question of investment becomes critical—investment and innovation,” Gurria said. “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.”

On APEC CEO Summit, Aquino told the delegates that with the country’s stable and growing economy, “there is no better time to invest in the Philippines than now.”

President Aquino said, indicators say that Philippines has “a more balanced and more resilient economy — one that can better withstand shocks and one that is consequently more attractive to investors.”