PGMA's Speech during the 5th Annual "Prospects for the Philippines' Conference of the Foreign Correspondents Association of the Philippines

Grand Ballroom, Mandarin Hotel, Makati City (11 Jan 2002)
THANK YOU VERY MUCH SECRETARY CABRERA.

BOBI TIGLAO; LITO CAMACHO; CITO LORENZO; MANNY MOGATO; THE OTHER OFFICIALS OF FOCAP; EXCELLENCIES OF THE DIPLOMATIC CORPS; OTHER GUESTS; LADIES AND GENTLEMEN:

I APPRECIATE THIS OPPORTUNITY TO ADDRESS FOCAP ONCE AGAIN. IN FACT, I HAD TO REDO MY WHOLE SCHEDULE. I WAS SUPPOSED TO BE IN ABRA TODAY BUT I SKIPPED ONE DAY IN ABRA SO THAT I COULD BE WITH YOU BECAUSE YOU COULDN'T CHANGE YOUR DATE SO I CHANGED MY DATE INSTEAD FOR FOCAP.

I WOULD LIKE TO CONGRATULATE YOU FOR REFLECTING ON GLOBAL COMPETITIVENESS, YOUR THEME IN THIS EVENT. THIS IS ALSO A FUNDAMENTAL MATTER OF NATIONAL SURVIVAL TODAY.

SO, HOW IS THE PHILIPPINES IN THIS, THE END OF THE FIRST YEAR OF MY ADMINISTRATION SITUATED AS FAR AS BEING ABLE TO COMPETE IS CONCERNED?

FIRST, LOOKING BACK OVER THE PAST YEAR, I WOULD SAY THE PHILIPPINES HAS BECOME MORE COMPETITIVE IN TERMS OF INVESTMENTS THAT HAVE COME IN AND LABOR PRODUCTIVITY. AND THE FACT THAT WE HAVE SURVIVED BETTER THAN MANY OF OUR NEIGHBORS AND TRADING PARTNERS IN THIS HARSH EXTERNAL ENVIRONMENT.

MY ADMINISTRATION HAS MAINTAINED AND ENHANCED THE DETERMINATION TO PURSUE THE IMPROVEMENT OF BUSINESS CONDITIONS BY MAINTAINING THE BEDROCK OF ANY COUNTRY'S COMPETITIVENESS -- AN ADHERENCE TO A LONG-TERM VISION, PREDICTABLE AND STABLE RULES OF THE GAME, AND MOST OF ALL, RULES AND POLICIES THAT ARE REFORM-ORIENTED.

I PRESENTED MY VISION FOR THE NATION ALMOST A YEAR AGO. ON JANUARY 20th 2001, AFTER TAKING MY OATH OF OFFICE AS PRESIDENT OF THE REPUBLIC OF THE PHILIPPINES AT HIGH NOON, I SAID:

FIRST, WE MUST BE BOLD IN OUR NATIONAL AMBITIONS SO THAT OUR CHALLENGE MUST BE THAT WITHIN THIS DECADE WE WILL WIN THE FIGHT AGAINST POVERTY.

SECOND, WE MUST IMPROVE MORAL STANDARDS IN GOVERNMENT AND IN SOCIETY IN ORDER TO LAY THE STRONG FOUNDATION FOR GOOD GOVERNANCE.

THIRD, WE MUST CHANGE THE CHARACTER OF OUR POLITICS IN ORDER TO CREATE FERTILE GROUND FOR TRUE REFORMS. OUR POLITICS OF PERSONALITY AND PATRONAGE MUST GIVE WAY TO A NEW POLITICS OF PARTY PROGRAMS AND PROCESS OF DIALOGUE WITH THE PEOPLE.

FINALLY, I BELIEVE IN LEADERSHIP BY EXAMPLE. WE SHOULD PROMOTE SOLID TRAITS SUCH AS WORK ETHIC AND A DIGNIFIED LIFESTYLE, MATCHING ACTION TO RHETORIC, PERFORMING RATHER THAT GRANDSTANDING.

I HAVE THE CONFIDENCE AND THE DISCIPLINE TO MAKE THAT VISION A REALITY. I AM COMMITTED TO HELP LEAD THE PEOPLE OF THE PHILIPPINES TO A BETTER LIFE.

FISCAL DISCIPLINE, GOOD GOVERNANCE, MARKET-ORIENTED REFORM --THESE ARE ALL LINKED TO REAL TARGETS AND TO POVERTY REDUCTION. OUR FISCAL DISCIPLINE -- AND HERE WE HAVE SECRETARY CAMACHO WHO SUPERVISED THAT -- ALLOWED THE INFLATION RATE TO GO DOWN TO 3.9 PERCENT LAST DECEMBER AND THE INTEREST RATES TO GO DOWN TO THE LOWEST LEVELS IN SEVEN MONTHS. AND ALSO AS WE READ IN TODAY'S PAPERS, OUR BOND FLOTATION IS TWO-AND-A-HALF TIMES OVERSUBSCRIBED WITH THE CORRESPONDING REDUCTION IN INTEREST RATES. THUS, WITH THIS FISCAL DISCIPLINE, THE PRICES OF BASIC COMMODITIES LIKE RICE, TRANSPORTATION AND BASIC MEDICINES WERE STABILIZED. SMALL BUSINESS ESPECIALLY IN TRADE WERE SET UP SO THAT SERVICES BECAME THE LARGEST DOMESTIC SOURCE OF GROWTH IN THE PAST YEAR.

GOOD GOVERNANCE STARTS WITH PERSONAL INTEGRITY AND WORK ETHIC OF THE PRESIDENT HERSELF. IT RADIATES TO THE PRESIDENTIAL FAMILY, WHICH IS WHY MY FIRST ADMINISTRATIVE ORDER PROHIBITED GOVERNMENT AGENCIES FROM DEALING WITH MY RELATIVES ON MATTERS OF CONTRACTS, SUPPLIES AND APPOINTMENTS TO POSITIONS. WHICH IS WHY, THOUGH MY DETRACTORS TRIED TO PIN BLACK PROPAGANDA ON MY HUSBAND, MY FAMILY THEY COULDN'T FIND CONCRETE EVIDENCE BECAUSE MY FAMILY DOES NOT INDULGE IN GRAFT.

I AM FIGHTING WASTE AND GRAFT SO THAT OUR POOR WILL BELIEVE IN THE GOVERNMENT AND SO THAT OUR SMALL ENTREPRENEURS WILL NOT WASTE THEIR HARD-EARNED INCOME ON PAY-OFFS AND CORRUPTION. WE ARE TAKING DECISIVE STEPS TO FIGHT CORRUPTION. FOR INSTANCE, ANTI-MONEY LAUNDERING LEGISLATION; CRACKING DOWN AND JAILING CORRUPT OFFICIALS -- AND THAT IS WHY I HAVE ASKED AGAIN SECRETARY CAMACHO, WHO WAS IN TURN INSTRUCTED HIS UNDERSECRETARY CORNELIO GISON TO INVESTIGATE THOSE ALLEGEDLY INVOLVED IN THE SMUGGLING OF RICE. THERE IS AN ONGOING INVESTIGATION RIGHT NOW IN CHARGE OF FINANCE UNDERSECRETARY GISON.

GREATER TRANSPARENCY IN CONTRACTS IS ALSO ANOTHER THING THAT WE HAVE DONE. NOW, ALL CONTRACTS HAVE TO BE BIDDED RATHER THAN NEGOTIATED. AND BECAUSE NEDA HAS GONE OVER MANY OF THE PAST CONTRACTS THAT HAVE COME THROUGH MY DESK OVER THE LAST 11 MONTHS. NOW WE HAVE SEEN ALREADY HOW CONTRACTS SHOULD BE DONE AND NEDA NOW WILL NO LONGER REVIEW SIGNED CONTRACTS BY THE DEPARTMENT SECRETARIES AND THE O.D.A. AGENCIES UNLESS THERE ARE SPECIFIC CONTRACTS REQUIRED BY LAW FOR PRESIDENTIAL REVIEW WHICH IS THE ONLY ONES THAT I WILL BE DEVOLVING TO NEDA.

WE ALSO ARE WORKING AS A GOVERNMENT ON IMPROVEMENTS IN THE JUDICIAL SYSTEM, BUT THIS IS DONE UNDER THE LEADERSHIP OF SUPREME COURT CHIEF JUSTICE HILARIO DAVIDE.

IN ADDRESSING MACRO CONCERNS, WE ARE FOCUSED ON LONG-TERM STRUCTURAL ISSUES, AND AS I SAID EARLIER, MARKET-ORIENTED REFORMS. WE STARTED WITH THE REFORM OF THE POWER SECTOR. LAST JUNE, AS YOU KNOW, CONGRESS PASSED THE POWER SECTOR REFORM LAW AFTER ALMOST A DECADE SINCE THE BILL WAS FIRST FILED. THE LAW PROVIDES A COMPETITIVE ENVIRONMENT IN THE POWER SECTOR WHICH IN THE LONG RUN WILL KEEP PRICES DOWN IN POWER FOR THE BENEFIT OF THE POOR.

OUR DETERMINATION TO PURSUE MARKET-ORIENTED REFORMS IS MANIFESTED BY OUR CONTINUING ADHERENCE TO THE TARIFF REFORM PROGRAM AND THE OPENING UP OF PREVIOUSLY PROTECTED INDUSTRIES TO FRESH INVESTMENTS. THIS HAS BEEN THE CASE IN TELECOMMUNICATIONS AND OIL INDUSTRIES AND THE FINANCIAL SECTOR.

AFTER ADDRESSING THE POWER SECTOR, WE TURNED TO OTHER BASICS LIKE INFRASTRUCTURE, PRODUCTIVITY AND THE SAVINGS RATE. ON INFRASTRUCTURE, FOR INSTANCE, WE FINALLY GOT TO AN AGREEMENT ON COMPLETING THE METRO MANILA M.R.T. LOOP. THIS WILL EASE THE COMMUTING LIFE OF THE POOR BECAUSE THEY CAN GET ON THE M.R.T. FROM ANYWHERE TO ANYWHERE ELSE IN METRO MANILA.

ALSO, WE WILL FINALLY BREAK GROUND ON THE BATANGAS PORT DURING THE BATANGAS FIESTA AROUND JANUARY 19 AFTER MORE THAN A DECADE OF DELAYS. THAT BATANGAS PORT IS ESPECIALLY DRAMATIC TO ME. IT STARTED AS OUR PROJECT WHEN I WAS UNDERSECRETARY OF TRADE AND INDUSTRY, A PROJECT THAT STARTED WHEN I WAS STILL UNDERSECRETARY OF TRADE AND INDUSTRY. AND IN BETWEEN I BECAME SENATOR TWICE, VICE PRESIDENT AND NOW PRESIDENT, AND NOW THE PROJECT CAN FINALLY BE IMPLEMENTED. THE BATANGAS PORT WILL BE THE INTERNATIONAL PORT FOR CALABARZON. IT WILL IMPROVE TRANSPORTATION AND LOGISTICS AND REDUCE COSTS MAKING PHILIPPINE PRODUCTS COMPETITIVE AND CREATING MORE AND BETTER PAYING JOBS. IT WILL DECONGEST METRO MANILA, AND THEREFORE ALSO IMPROVE PRODUCTIVITY BY CUTTING DOWN ON THE TIME WASTED IN TRAFFIC JAMS. THIS WILL ALSO IMPROVE COMPETITIVENESS AND THE LOT OF THE WORKING CLASS.

AS AN ILLUSTRATION OF PRODUCTIVITY -- OH! CITO LORENZO IS HERE. THIS IS NOT BECAUSE YOU ARE HERE. IT'S ALSO ALREADY IN THE SPEECH I WROTE LAST NIGHT -- WE ARE PROMOTING THE USE OF AN AWARD-WINNING CHINESE RICE HYBRIDS, ONE OF THE FRUITS OF MY STATE VISIT TO CHINA. THIS HYBRID WILL INCREASE FARM PRODUCTIVITY BY TWO-AND-A-HALF TIMES. WE SHALL BE ADOPTING THIS IN 50,000 HECTARES OF LAND ALL OVER THE PHILIPPINES. THIS WILL INCREASE THE INCOME OF THE FARMERS, WHO MAKE UP THE MAJORITY OF THE POOR. AND TO THOSE DOOMSAYERS WHO SAY THAT WE WILL BE ANOTHER ARGENTINA WITH FOOD RIOTS, NOT AFTER THIS HYBRID IS PLANTED IN APRIL AND HARVESTED IN SEPTEMBER, NOT AFTER ALL THE ECONOMIC REFORMS THAT HAVE BEEN DONE THAT HAVE KEPT PRICES AND THE INFLATION RATE DOWN AND INTEREST RATE DOWN. NO, WE ARE VERY, VERY FAR FROM ARGENTINA.

ON PROMOTING SAVINGS, WE ARE STRENGTHENING THE FINANCIAL SECTOR. THE HIGHLIGHT OF THIS -- AND AGAIN I CONGRATULATE LITO CAMACHO -- IS THE AGREEMENT WE HAVE REACHED ON THE REHABILITATION OF THE PHILIPPINE NATIONAL BANK, THE LINCHPIN OF OUR BANKING SYSTEM.

I AM DEDICATED TO GIVING BACK TO MY COUNTRY THE HONOR IT BESTOWED ON ME LAST JANUARY 20th, AND TO HELPING EASE THE POVERTY THAT AFFLICTS SO MANY.

I HAVE A STRONG TEAM. MY CABINET IS IMPRESSIVE, HONEST AND VERY PROFESSIONAL. THE INTERNATIONAL BUSINESS COMMUNITY FINDS THEM A DREAM TEAM. AND THEY GET EVEN MORE IMPRESSED WHEN I SAY, "YES, OF COURSE. WHY ARE THEY NOT BEHAVING LIKE A DREAM TEAM, AFTER ALL I HAVE SEVEN HARVARD GRADUATES -- THREE OF THEM ARE HERE TODAY -- BOBI, CITO AND LITO. AH, OH! NO, NO. TWO, BOBI AND LITO. I HAVE THREE WHARTON ALUMNI. ONE OF THEM IS HERE, THAT'S CITO. I HAVE FOUR VETERANS OF WALL STREET. TWO OF THEM ARE HERE, CITO AND LITO. AND I DOUBT IF ANY OTHER GOVERNMENT IN THE WORLD CAN BOAST OF A MORE ACADEMICALLY AND PROFESSIONALLY PREPARED TEAM. THAT IS WHY WE ARE BACK ON THE RADAR SCREEN.

YES, THE PHILIPPINES IS BACK. WHEN I TOOK OFFICE I SAID I WOULD FOCUS MY ENERGY ON MAKING THE ECONOMY GROW DESPITE THE HARSH ENVIRONMENT OF 2001. I CREATED A PLAN AND HAVE MADE A SUBSTANTIAL DOWNPAYMENT TO ACHIEVE THAT RESULT IN THE FIRST 12 MONTHS OF OUR ADMINISTRATION.

THE PLAN CONSISTS OF FOUR COMPONENTS: THE FIRST IS AN ECONOMIC PHILOSOPHY OF FREE ENTERPRISE APPROPRIATE TO THE 21st CENTURY; THE SECOND COMPONENT IS A MODERNIZED AGRICULTURAL SECTOR FOUNDED ON SOCIAL EQUITY; THE THIRD COMPONENT IS A SOCIAL BIAS TOWARD THE DISADVANTAGED TO BALANCE OUR ECONOMIC DEVELOPMENT PLAN; AND THE FOURTH COMPONENT IS TO RAISE THE MORAL STANDARDS OF GOVERNMENT AND SOCIETY.

I HAVE BROUGHT POLITICAL STABILITY AND GLOBAL RELEVANCE.

MY MACROECONOMIC POLICIES ARE PAYING OFF: PESO STABILITY, LOW INFLATION, JOB CREATION. FROM AN 11.6 PERCENT UNEMPLOYMENT RATE A YEAR AGO, THE LATEST UNEMPLOYMENT FIGURE HAS GONE DOWN TO 9.8 PERCENT. AND FROM OCTOBER LAST YEAR -- AH, NO -- FROM OCTOBER 2000 TO OCTOBER IN 2001, WE HAVE CREATED EIGHT HUNDRED THOUSAND JOBS IN AGRICULTURE.

THOUGH THE FINAL ACCOUNTING HAS NOT YET BEEN COMPLETED, WE WILL ALSO PROBABLY MEET OUR BUDGET DEFICIT GOAL OF SOME 145 BILLION PESOS INSTEAD OF THE PROJECTED 225 BILLION PESOS THAT WE STARTED WITH A YEAR AGO. AND WE ARE SET TO BALANCE THE BUDGET BY 2006.

OUR G.N.P. GROWTH WAS 3.7 PERCENT FOR THE FIRST 3 QUARTERS OF 2001 DESPITE TOUGH GLOBAL ECONOMIC TIMES AND THE POLITICAL TURMOIL I INHERITED.

WE ACHIEVED THIS GROWTH BY DIVERSIFYING OUR DOMESTIC PRODUCT BASE. KNOWING THAT WE COULD NOT COUNT ON EXPORTS FOR 2001 BECAUSE OF THE WORLD SLOWDOWN, WE STRENGTHENED THE DOMESTIC MARKET AND ACHIEVED GROWTH IN SERVICES, AS I SAID, ESPECIALLY TRADE, ALSO IN TRANSPORTATION AND COMMUNICATIONS, AGRICULTURE, AND STARTING LAST OCTOBER, THE MALAMPAYA GAS PROJECT WHICH BROUGHT ALSO A WINDFALL OF OIL, AND STARTING THIS YEAR, THE PRIVATIZATION OF NAPOCOR.

WE HAVE TAKEN TERRORISM HEAD ON IN THE PHILIPPINES, IN THE REGION WITH OUR ALLIANCE WITH OUR NEIGHBORS -- MALAYSIA AND INDONESIA, AND WITH THE GLOBAL ANTI-TERRORIST ALLIANCE.

WE HAVE NEUTRALIZED THE RASH OF KIDNAPPINGS. THIS WAS ACHIEVED BY CARRYING OUT THE FOLLOWING RECOMMENDATIONS OF THE FILIPINO-CHINESE COMMUNITY:

FIRST THEY SAID, WE SHOULD IMPLEMENT THE DEATH PENALTY FOR CONVICTED KIDNAPPERS TO STRIKE FEAR IN KIDNAP-FOR-RANSOM SYNDICATES AND SHOW THE GOVERNMENT'S RESOLVE TO DEAL WITH THE KIDNAPPING;

THEY ALSO SUGGESTED -- AND WE'RE DOING IT -- THAT WE WORK WITH THE CHINESE GOVERNMENT TO FIGHT KIDNAPPING SYNDICATES THAT ARE COMPOSED OF CHINESE NATIONALS;

THEY ALSO SUGGESTED THAT WE RID THE UNIFORMED SERVICES OF SCALAWAGS AND REORGANIZE THE POLICE. THAT HAS BEEN DONE BY SECRETARY JOEY LINA AND PNP CHIEF LEANDRO MENDOZA;

THEY SUGGESTED TOO THAT WE SHOULD RESURRECT THE COMMUNITY-ORIENTED POLICE SYSTEM, WHICH MEANS POLICE PRESENCE IN THE NEIGHBORHOODS;

AND THEY SUGGESTED -- WHICH WE DID -- THAT WE SHOULD PROVIDE THE NATIONAL ANTI-CRIME COMMISSION WITH THE NECESSARY EQUIPMENT, INCLUDING HELICOPTERS AND SURVEILLANCE FACILITIES, AND GIVE IT THE BUDGET TO ENABLE IT TO FUNCTION EFFECTIVELY. THIS INCLUDES THE INJECTION OF 1 BILLION PESOS FOR THE PHILIPPINE NATIONAL POLICE WHICH LARGELY IMPLEMENTS THE DIRECTIVES OF THE NACC AGAINST KIDNAP-FOR-RANSOM SYNDICATES;

THEY SUGGESTED -- AND WE DID -- THAT WE MODERNIZE THE POLICE ORGANIZATION. BASICALLY WE HAVE IMPROVED THE SCREENING PROCESS FOR POLICEMEN APPLICANTS. NOW, ONLY COLLEGE GRADUATES CAN BE ADMITTED TO THE POLICE FORCE. AND WE HAVE JUST HIRED 1,700 NEW POLICEMEN WHOM WE INTRODUCED TO THE PUBLIC DURING THE CHRISTMAS SHOPPING SEASON. 1,700 NEW POLICEMEN, ALL OF THEM COLLEGE GRADUATES. WE ARE ALSO EXPANDING THE PROGRAMS WITH HONGKONG AND THE U.S.A. TO HIRE FOREIGN EXPERTS USING THE USE OF O.D.A. TO TRAIN THE POLICE FORCE;

AND WE HAVE SET UP -- UPON THE RECOMMENDATION AGAIN OF THE CHINESE COMMUNITY -- EMERGENCY RESPONSE CENTERS TO ASSIST VICTIMS AND THEIR RELATIVES. THE ANTI-KIDNAPPING TASK FORCE, IN FACT, HAS PUT UP A NERVE CENTER RIGHT IN BINONDO.

WE HAVE ALSO IMPLEMENTED A REWARD SYSTEM FOR PEOPLE WHO GIVE INFORMATION ABOUT KIDNAPPING. JUST AS I SET UP A REWARD SYSTEM FOR ABU SAYYAF LEADERS, WHICH HAS RESULTED IN MANY CAPTURES AND KILLING, SO THAT WHERE THE ABU SAYYAF WERE THOUSANDS BEFORE THEY ARE JUST HUNDREDS NOW. I ALSO MADE A TOTAL OF A HUNDRED MILLION AVAILABLE AS A REWARD POOL FOR THE CAPTURE OF KIDNAPPERS.

AND WE HAVE MOBILIZED THE PEACE AND ORDER COUNCILS MORE ACTIVELY. AND WE HAVE ORGANIZED COMMUNITY-BASED SELF DEFENSE UNITS, WHICH ARE AUTHORIZED TO CARRY FIREARMS AND EFFECT CITIZENS' ARREST BY ACCREDITING THEM AS SPECIAL POLICE DEPUTIES.

WE HAVE ASKED THE MEDIA -- AND I WOULD LIKE TO ASK AGAIN. JUST FOR THOSE FEW WHO MIGHT HAVE NOT GOTTEN THE REQUEST EARLIER -- NOT TO REPORT NEWS ABOUT LIVE KIDNAPPING CASES, BECAUSE WE MUST ENSURE THAT NO LEAK COMES OUT OF THE PNP OR THE MEDIA SO AS NOT TO JEOPARDIZE THE SAFETY OF THE VICTIMS STILL IN THE HANDS OF KIDNAPPERS.

AND FINALLY, USING THE NATIONAL ANTI-CRIME COMMISSION AS THE CENTER, WE HAVE ESTABLISHED CLOSER COORDINATION AMONG ALL INTELLIGENCE AGENCIES SO THAT WE CAN MAXIMIZE ALL MECHANISMS OF THE STATE TO IDENTIFY AND LOCATE KIDNAP-FOR-RANSOM GROUPS AND OTHER CRIMINAL SYNDICATES, WHICH IS WHY THE DECEMBER 30 ANNIVERSARY OF THE DECEMBER 30 BOMBING OF THE YEAR 2000 HAD NO ANNIVERSARY BLAST BECAUSE ALL THOSE INTENDED EXPLOSIVES WERE DISCOVERED BY INTELLIGENCE BEFORE D-DAY.

I AM CHARTING A NEW COURSE WITH THE RESULTS OF LAST YEAR. I BELIEVE WE ARE SAILING INTO CALMER WATERS. BUT MUCH WORK REMAINS TO BE DONE:

ROOT OUT TERRORISM; WORK WITH THE INTERNATIONAL COMMUNITY.

RETURN THE REPUTATION OF MANILA AND THE PHILIPPINES AS A WELCOMING AND SAFE PLACE IN WHICH TO LIVE AND DO BUSINESS.

INCREASE THE BENEFITS FROM OUR NEW GLOBAL RELEVANCE AND ENGAGEMENT AFTER YEARS OF BEING ISOLATED AND ADRIFT.

WE WILL CONTINUE OUR LONG-TERM STRUCTURAL REFORM.

PREPARING OUR GROWTH SECTORS OF THE FUTURE ENABLES US TO TAP THE OPPORTUNITIES OF THE 21st CENTURY.

WE ARE PROMOTING FAST-GROWING INDUSTRIES WHERE HIGH-VALUE JOBS ARE MOST PLENTIFUL BECAUSE OUR COMPETITIVE ADVANTAGE IS OUR HUMAN RESOURCES. THE PHILIPPINES IS THE HOME OF THE GREAT FILIPINO WORKER. THE WORLD KNOWS THIS. WE ARE PROUD OF IT. THUS, WE ARE PROMOTING HUMAN RESOURCE-INTENSIVE, SKILLS-INTENSIVE SERVICE SECTORS. ONE OF THEM IS INFORMATION AND COMMUNICATIONS TECHNOLOGY OR I.C.T. I.C.T. WILL BE THE LINCHPIN FOR OUR DRIVE FOR SUSTAINABLE LONG-TERM GROWTH.

TERRORISM IS A DRAIN. I WILL ROOT IT OUT AT ITS SOURCE SO THAT WE CAN LIVE IN PEACE AND BUILD A SAFE, PRODUCTIVE SOCIETY.

UNDER THE ECONOMIC PHILOSOPHY OF FREE ENTERPRISE, THE WAY TO FIGHT POVERTY IS TO CREATE JOBS, NOT DESTROY THEM. TO CONTINUE TO CREATE JOBS, WE WILL ATTRACT INVESTMENTS. WE WILL CONTINUE TO ATTRACT INVESTMENTS INCLUDING FOREIGN INVESTMENTS.

WE WILL PURSUE NEW INITIATIVES TO WEED OUT CORRUPTION. CABINET SECRETARIES WILL HAVE TO DELIVER TANGIBLE RESULTS WITHIN 12 MONTHS AFTER MY STATE OF THE NATION ADDRESS, OR 6 MONTHS FROM NOW IN FIGHTING GRAFT.

AND SO THIS IS WHAT WE HAVE DONE THIS PAST ELEVEN MONTHS. THESE ARE SOME OF WHAT WE INTEND TO DO IN THE NEXT 12 MONTHS. AND I WANT TO THANK YOU FOR ALLOWING ME TO PUT FORWARD MY VISION, MY PLAN AND MY THOUGHTS FOR THE NEW YEAR.

AND NOW, LET US CONTINUE OUR DIALOGUE THE WAY I KNOW YOU ENJOY IT BEST -- NO HOLDS BARRED IN THE OPEN FORUM.

THANK YOU.

[HOME]