PNoy: No more 'horror stories' from Phl

MANILA, Philippines - President Benigno Aquino III announced that foreign companies are now lining up to invest in the Philippines as he returned today from his official trip in the United States.

"Ipinagmalaki natin sa kanila na bukas na ang tarangkahan at maaliwalas na aasikasuhin ng Pilipinas ang pamumuhunan sa bansa... Mas angkop nang sabihin na ang mga banyagang kumpanya na ang pumipila upang makaangkas sa pag-angat ng ating ekonomiya," President Aquino said in a speech upon his arrival from the US early today.

He mentioned in particular two American companies -- Pepsi Corp. and Vita Coco -- who want to pour investment to the country's coconut industry.

Aquino said that both companies want to import "buko" juice from the Philippines, which is now famous in America as "coco water."

"Nauuso kasi sa Amerika ngayon ang pag-inom ng tinatawag nilang coco-water, na dito po sa atin ay buko juice kung tawagin. Dahil nga naman masustansya, natural, at makakalikasan ito, para pong nagiging bagong natural sports drink ito sa Amerika, na ngayon pa lang po ay daang-milyong dolyar na industriya na," he said, showing two sample products of coco water from the US.

Aside from the two companies, Aquino said that IBM has told him that it intends to continue expanding its business in the country, particularly in the information technology sector.

The other companies mentioned by the President were Convergys and EXL, engaged in the BPO industry, and CG/LA, a group of of companies on infrastructure.

He added that the US-ASEAN Business Council, which has members including Coca-Cola, General Electric, Pfizer, Citigroup, among others, have also expressed confidence in continuing doing business in the country.

“Iisa po ang pahiwatig nila: 'Gusto namin ang nakikita namin; interesado kaming mamuhunan sa inyo. Magtulungan tayo; gusto namin kayong tulungang maabot ang potensyal ninyo,'” Aquino said.

The President boasted that the increasing confidence in the country's business environment is the result of his administration's continuous reforms towards good governance.

He said that instead of sending "horror stories" to other countries, the Philippines is now receiving invitations to share the government's "best practices" to other countries.

"Kung dati ang liit ng tingin sa ating sarili, ngayon, mga mauunlad na abnsa na po ang tumitingala sa atin," Aquino said. -- Angelo L. Gutierrez