| PGMA calls on the U.N. to help ensure steady supply of rice to needy nations |
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NEW YORK CITY --- President Gloria Macapagal-Arroyo called on
the United Nations to help ensure the steady supply of rice especially to
needy nations amid the global threat of rising oil and food prices. The President issued the call during the reception for UN permanent representatives at the UN Headquarters here. ''We call on the UN to help ensure supply, promote research and continue to provide us with humanitarian supplies to the truly needy nations affected by the global phenomenon,'' the President said. The President noted that the twin challenge of rising prices of oil and food has been felt by the Philippines and many other nations, rich and poor alike. She said the Philippines has been able to prevent the situation from becoming a crisis through several interventions that ensure steady supply of low-priced rice through subsidies, effective distribution and punishment of hoarders and price manipulators. ''We have been doing double daily in the region to coordinate our efforts, but we need strong, global leadership and coordination if we are to avert from becoming a perpetual problem,'' she said. The President said the UN could very well provide this global leadership and coordination as it has been the organization's thrust to ''lift up humankind through its stewardship of human rights, pursuit of peace and efforts to eliminate poverty'' since World War 11. |
| PGMA witnesses signing of $500-M contract between RP and Libby's Fruits |
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New York City-- June 27 Friday, --- President Gloria
Macapagal-Arroyo witnessed today the sealing of a Memorandum of Agreement
(MOA) between the Philippines and NTC Marketing, Inc. or Libby's Fruits of
New York in simple rites held at the Waldorf Hotel here. Trade Secretary and National Development (NDC) Chair Peter Favila signed in behalf of the Philippine Government and NTC Marketing Chairman Michael DeRose for Libby's Fruits. Under the MOA, the Philippines would have a 35-year contract to supply pineapples from the Bicol region to Libby's Fruits. The Philippines stands to earn some $500-million from the implementation of the MOA while some 5,000 farming families would also benefit. Libby's Fruits is produced by NTC, a private company with over 40 years in the food industry, which specializes in tropical fruits, offering new and innovative solutions to growth, NTC tropical fruit products include Libby's pineapple, pineapple juice, tropical fruits that include guava, red and yellow papaya and sliced mango, tropical mixed fruits and mandarin orange. |
| PGMA woos the ''big apple'' investors to pour their money into the Philippines |
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NEW YORK CITY-- On the last day of her 3-day visit to the US
financial district here, President Gloria Macapagal-Arroyo today took the
opportunity to lure businessmen to invest in the Philippines during the
Philippine Economic Overview and Infrastructure Project for Financing and
Privatization Seminar at the Starlight Ballroom of the Waldorf Hotel here. ''One of the key priorities of this visit to the US is to advance Philippine economic growth and investment opportunities with business leaders and investors by showing them our country's extraordinary value for investment which is being recognized by foreign investors from all over the world, from the Middle East to Europe to North America,'' the President said. Citing the Philippines' sustainable economic growth and sound economic fundamentals, the President said the Philippines is the ''smart, prudent place to put your money.'' ''We are a great place to invest,'' she stressed, adding that despite the slowing down of some global economies, the Philippines, she assured, is a ''good long term destination. We don’t sell hype, no quick bucks, no false gain. Just strong fundamentals, economic stability and excellent return of your investment.'' ''We are on a steady, permanent path to economic growth, stability and modernization,'' the President said. Why is this so?--the President said the government is committed to fiscal prudence, long-term economic growth and political stability. And as a springboard for further economic growth and building a firewall against the global economic slowdown, a surge in infrastructure was launched, she said. Building a strong economy, which is the central pillar of her administration, is helping the Philippines face the global challenges of rising oil and food prices. ''It is paying off,'' the President said citing the 7.3 economic growth last year, the fastest in three decades; investments have increased and the goal of balancing the budget in 2010 is on track. Revenue collections are up due to the implementation of the unpopular value added tax, and crackdown on tax cheats and a strong campaign against corruption as well as the tough discipline to maintain the budget are being pursued relentlessly. The President acknowledged though that there is still a lot of room to improve revenue collection through the implementation of administrative reforms. ''Our reforms provide a significant firewall against dramatic economic swings at home,'' she said adding that amid a global economic slowdown, the economic growth in the Q1 was at 5.2 percent...and in Q2 is expected to sustain this growth momentum.'' The President also said she is determined to fulfill the Philippine Reform Agenda and continue to fight for education, the economy and the environment Congress has committed to pass a Comprehensive Anti-Corruption Act this year. ''We remain deeply committed to being a force for good, bullish on our country and optimistic about our future,'' she stressed. Citing a strong RP-US relations, the President said ''we look forward to forging even closer ties to US businessmen and Women.” |