NEW YORK (via PLDT) – President Gloria Macapagal-Arroyo called on American investors Thursday (Friday in Manila) to channel their resources and invest in the Philippines, declaring that "where bigger and richer economies failed, ours has moved forward."

"This is a good time to expand our trade and investment relations," the President said in her speech before the American business leaders attending the "Investment Forum" held at the St. Regis Hotel here, revealing facts and figures on the country’s economic achievements in the past year.

She said the government, under her stewardship, "has gone a long way to bringing our country back on the radar screens of the world."

Immediately after hearing the President, the Credit Suisse First Boston (CSFB), which is sponsoring the forum, pledged full support to the Philippine government and expressed interest in investing in the Philippines.

The President said that, indeed, development is in full swing in the Philippines as evidenced by what was reflected in the stock market for the last two weeks.

The President also said the country’s Gross Domestic Product grew by 3.4 percent in 2001 and the Gross National Product grew 3.7 percent, one of the highest growth rates in a world where many countries are suffering from recession.

"Where bigger and stronger currencies collapsed, ours has held firm," she said, adding that "we kept our currency stable without an IMF (International Monetary Fund) program and without instituting capital controls."

The President also cited the qualifications of her economic team led by Finance Secretary Jose Isidro (Lito) Camacho, Energy Secretary Vicente Perez, Board of Investment Head Gregory Domingo, and Environment and Natural Resources Secretary Heherson Alvarez for their integrity and competence which, she said, has brought professionalism in public service to new heights.

"This professionalism is illustrated by the fact that in my Cabinet, there are seven Harvard graduates, including Lito Camacho. There are three Wharton alumni, including Vince Perez and even BOI head Gregory Domingo," she said.

"Another Harvard graduate is Sonny Alvarez, my Secretary of Environment. There are four veterans of Wall Street, including Lito and Vince. There are two Ph. D.’s in economics, one is my Secretary of Planning and the other one is the President of the Philippines," the President said to the delight of the American businessmen present in the forum.

The President said the Philippine government is also promoting fast growing industries "where high value jobs are most plentiful and which can use our most competitive resource – the great Filipino worker."

During her speech, President Macapagal-Arroyo announced that the Philippines will be hosting E-Services Philippines, a major information technology fair, next month in Manila.

According to the President, much of what the world’s investment community has asked of her administration have thus far been delivered.

"The Power Bill and the Money Laundering Act, long considered litmus tests of our political will to legislate reforms, were put into law, firmly overcoming years of delay," the President said.

She also revealed that the government’s public deficit has been placed under control.

"So we have tamed our deficit, we have passed important structural reforms legislatively. Results, interest rates and inflation rates have declined. Interest rates are at their lowest in the last 15 years," the President told the potential investors.

The President said that recent unemployment rates have also shown decline.

"This is the time to capitalize on the deepening convergence of interests by strengthening our commercial relations," she said.

In closing, the President expressed confidence that "if we continue our long-term strategic partnership in security matters, in economic matters together, the US and the Philippines can weather the storm of the global recession and achieve mutually profitable alliances."

For his part, Brady Dougan, global head of securities and member of the executive board of Credit Suisse First Boston, pledged his full support on behalf of his organization to the administration of President Macapagal-Arroyo.

He also expressed CSFB’s interest to invest in the Philippines.

NEW YORK (via PLDT) – President Gloria Macapagal-Arroyo said Thursday (Friday in Manila) that the Philippines will continue to stand beside the United States as a partner in the global war against terrorism "until the whole world is secure."

The Chief Executive gave this assurance during her speech before the American businessmen attending the "Investment Forum" sponsored by the Credit Suisse First Boston at the Regis Hotel here.

"The anti-terrorism partnership (with the United States) will continue until the whole world is secure against terrorists," the President declared.

The President said American troops who are now in the Philippines "are training side by side with ours in Basilan, the isolated island in Southwestern Philippines where the terrorist group Abu Sayyaf has its lair."

US President George W. Bush, in his State of the Union Address, said "our war against terrorism is only beginning."

The US President also said "we now have troops in the Philippines, helping to train that country’s armed forces to go after terrorist cells that have executed an American and still hold hostages."

"My hope is that all nations will heed our call and eliminate the terrorist parasites who threaten their countries and our own," Bush added.

President Macapagal-Arroyo was among the first world leaders to throw her support behind the US declaration of war against international terrorism and has even taken the initiative to gather regional support from the Association of Southeast Asian Nations (ASEAN) for the US-led campaign against the global scourge.

During her speech before American investors here, the President also welcomed President Bush’s strong pitch to pull out America from recession.

This will help pull out the global economy from lethargy, the President said.

Mrs. Macapagal-Arroyo pointed out that the drive against terrorism and poverty is now driven by a widening global consensus, adding that "a new kind of war needs a new kind of peace."

The President also stressed that her battle plan for the war against poverty in the Philippines continues to revolve around four components.

NEW YORK (via PLDT) – President Gloria Macapagal-Arroyo called on American investors here Thursday (Friday in Manila) to consider investment opportunities in the Philippines, especially in the power sector and other infrastructure projects of her administration.

In her speech at the Investment Forum held at the Regis Hotel here, the President said the privatization of the state-owned National Power Corporation (Napocor) is a major policy shift that was made possible with the passage of the Power Sector Reform Law.

"This is the time to capitalize on the deepening convergence of interests by strengthening our commercial relations," the President told US business leaders.

The passage of the Power Sector Reform Law is one of the first and significant milestones of her one-year-old administration, the President said.

According to the President, the sale of Napocor’s transmission facilities will begin in June this year and this will be followed by the sale of the firm’s generation facilities.

"We aim to expand the investment opportunities also related to infrastructure required to improve the competitiveness of industries involved not only in electricity but also in mass transit systems, roads, bridges, telecommunications and ports," the President said.

The President said that the government has been assisting the Napocor in sourcing funds to carry out its privatization program.

"We have been refinancing its assets to the tune of $250 million of our most recent $750-million bond offer coupled with the Euro 500 million issue this past November," the Chief Executive said.

The President pointed out that these very successful issues were made possible by the passage of the Power Sector Reform Bill.

She also said that government reforms to be undertaken this year will include strengthening the banking sector so that bottlenecks to major infrastructure and investment projects that have been stocked in the pipeline for many years will be unlocked.

She told the American business investors that the government will likewise expand the revenue sources, distribute more lands to farmers, vigorously implement its agricultural modernization program through the construction of more irrigation systems, post harvest facilities, and assist farmers in their marketing and research and development.

"As we implement the Philippine Economic Plan, I cannot emphasize enough that the economic growth is of no value if it is not linked to good governance. And that is why, we are determined to promote efficient and transparent governance," the President said.

Under the leadership of her Cabinet members, the President said, government agencies are implementing measures to cut half the number of signatures required for the delivery of services such as licenses, permits, registration and franchises.

NEW YORK (via PLDT) – President Gloria Macapagal-Arroyo today witnessed the signing of a Memorandum of Understanding between Clark Development Corp. (CDC), Clark International Airport Corp. (CIAC) and the United States of America‘s Garsol Management Innovators, Inc. (GMII).

Emmanuel Angeles, president and chief executive officer (CEO) of CDC/CIAC, and Sean Gerard Villoria, president and CEO of GMII, signed the agreement in ceremonies at the St. Regis Hotel here Thursday afternoon (Friday in Manila).

GMII was incorporated in 1992. The company has been one of the prime movers of the American aviation industry, specializing in product marketing and management consultancy services.

GMII has taken pride in its direct customer relations approach and its keen emphasis on emergent technologies that have become useful to the industry. In recent years, GMII has broken ground by way of a Supply Support Agreement for the Philippine Air Force.

The Clark Special Economic Zone (CSEZ) has been chosen as the main site of the Crow Valley tactical Gunnery Range, ideal for military and civilian flight training.

GMII has agreed that the existing infrastructure facilities in the CSEZ would support the initial requirements for the establishment of a world-class aviation training facility.

The agreement is expected to create more than 950 jobs.

Project investments include:

NEW YORK (via PLDT)—President Gloria Macapagal-Arroyo witnessed Thursday (Friday in Manila) the signing of a US$2 million Memorandum of Agreement (MOA) between Megaworld Corporation/Eastwood City Cyberpark and the US-based Linksys Group.

The agreement was signed by Andrew L. Tan, chairman of Megaworld Corporation, and Victor Tsao, president and chief executive officer of Linksys Group, Inc., in ceremonies held at the St. Regis Hotel here.

The California-based Linksys is the leading manufacturer of networking hardware in North America, currently supplying about 30 percent of the region’s market.

Linksys sells its networking equipment to the top 1,000 companies listed in Fortune magazine.

Initially, Linksys will be setting up 200 call centers in Eastwood City Cyberpark that will serve as their technical support team for any inquiry from their clients worldwide on the use of their line of networking equipment.

Megaworld Corporation, which was cited by Hong Kong-based Finance Asia magazine as "one of Asia’s Best Companies of 2001," has relentlessly pursued its projects in the property sector despite the prevailing economic slump.

Established in 1989, Megaworld now has a string of 37 completed projects. By the end of 2000, Megaworld was a pillar of financial stability with total assets amounting to P22.8 billion.

Megaworld’s flagship project, the Eastwood City Cyberpark (ECC), located at E. Rodriquez Avenue in Quezon City, is the country’s first information technology (IT) park.

The ECC now boasts of business centers that house IT companies and IT-focused educational institutions, placing the country on the global map of information technology.

The agreement, which will have an investment cost of US$2 million, will bring the following benefits to the Philippines: employment opportunities for the Filipino workforce, starting at 200; professional advice on issues concerning business and economics; possibility of expansion of network and connections; training in information and communication technology; and technology transfer.

National Security Adviser Roilo Golez today said that United States President George W. Bush was not referring to the Philippines when he uttered the now-famous "If they do not act, America will" warning in his State the Union Address at the US Congress last Wednesday.

"This was very clear because prior to this, President Bush said that he noted that the American troops are in the Philippines for training," Golez said.

Golez said there is no way that anyone can interpret this as referring to the Philippines. "He was referring to other countries that are not either cooperating or are very timid in facing terrorism," he said.

In a press briefing in Malacanang, Golez shared some relevant items that are part of the agreement between President Bush and President Macapagal-Arroyo during her visit to the White House in November last year.

"I think this is very relevant to what is happening right now and why the Balikatan exercise is evolving right now," Golez said.

Citing a joint statement issued by the White House during the President’s visit, Golez said that the two leaders reaffirmed their commitment to secure the safe return of all hostages and to put an end to the terrorists’ acts committed by the Abu Sayyaf in Southern Philippines.

After evaluating the report of the US team that assessed the needs of the Armed Forces of the Philippines (AFP), the two leaders affirmed that they would continue to work on a vigorous and integral plan to strengthen the capability of the Philippine security forces in combatting terror and in protecting Philippine sovereignty, Golez said.

He said that such an integrated plan would include a robust training package and the equipment needed for increased mobility, such as C-130 and helicopters. "That is exactly what is happening now," Golez said.

Golez said that as a preliminary step to enhance the modernization of the AFP, President Bush pledged to work with the US Congress for a ten-fold increase in foreign military financing (FMF) for the Philippines, from $1.9 million in 2001 to $19 million in 2002.

Total security assistance from the Bush administration to the Macapagal-Arroyo administration offered or delivered for fiscal years 2001 and 2002 is expected to be worth $100 million, Golez said.

He said that while pledging military cooperation to end the terrorist activities of the Abu Sayyaf, the two leaders also agreed that sustainable peace in Mindanao requires addressing Mindanao’s socio-economic problems.

For this purpose, President Bush announced that for fiscal years 2001 and 2002, a total of $55 million will be provided for socio-economic assistance for Southern Philippines.

"This Mindanao package will provide direct support for the peace process in the Southern Philippines. This will also include $825,000 in new educational and cultural exchanges, including a number of Fulbright scholarship grants specifically targeted for the Muslim community in Mindanao," Golez said.

NEW YORK (via PLDT) – President Gloria Macapagal-Arroyo Friday afternoon (Saturday morning in Manila) expressed confidence that the international coalition against terrorism would continue to gain momentum in order to fight the "handmaiden of terrorism which is poverty."

The coalition came about following the terrorist attacks in New York and Washington, D.C. on September 11 last year.

In her opening statement at a press conference at the Hotel Intercontinental here, the President said "we’ve gone forward and we’re achieving something close to victory in the fight against terrorism."

This was the same message she made before top government leaders who took part in the World Economic Forum.

"I hope that the coalition that we have put together in the fight against terrorism will not drift away, now that victory is at hand," the President said.

The President said members of the international coalition have been assisting each other and giving their fair share in the fight against global terrorism.

The President added that first and foremost, "we have vocally aligned ourselves with the international coalition called by the United Nations."

She said the Philippines has made its territorial airspace and waters available for passing coalition planes and ships on their way to Afghanistan.

"We have also entered into trilateral operational arrangements with our neighbors – Malaysia and Indonesia," the President said, as she expressed the belief that "Singapore and Thailand would soon join us to fight terrorism in our common seas."

The President said that "within our own country, we have been fighting terrorism in Southwestern Philippines long before September 11."

"We have made success there, we have cornered the terrorists, we have contained them in one small island in the southwestern corner of the Philippines," she said, adding that what used to be a lonely fight for the Philippines in the South has become a fight with allies.

The President noted that the Philippine government has helped the international coalition stop terrorism by enhancing broader inter-faith dialogues with Muslim Filipinos.

"Internationally, we have made this call, particularly in countries whose governments are headed by Christian Democrats. My own party is headed by Christian Democrats," she said.

The President said her government has also accelerated the delivery of social and economic programs in southwestern Philippines especially in Basilan which "happens to be the poorest province in our country."

"It has the lowest per capita income, it has the lowest life longevity rate, it has the lowest literacy rate. And it really illustrates the deep interlink between terrorism and poverty," she explained.

The President said everything that her government was doing was geared towards the fight against poverty.

NEW YORK (via PLDT) – President Gloria Macapagal-Arroyo Friday said her administration was very much concerned about the safety and well-being of American couple Martin and Gracia Burnham, who are being held captive by the Abu Sayyaf Group in Basilan .

The President told Jane Clayson, anchorwoman of "Early Show" aired at 7:00 a.m. (8:00 p.m. Friday in Manila) over CBS television: "We’re very concerned about their well-being. We’re very concerned about the well-being of many, many victims of terrorists all over the world."

The President said her government was also concerned about Filipinos killed in the all-out effort to rescue the American couple and other persons abducted by the notorious kidnap-for-ransom bandit group.

"We are concerned about all that. And we want to put an end to the Abu Sayyaf terror once and for all. That is why, we have accepted the idea of having American troops come (to the Philippines) to train our soldiers," she said.

The President reiterated her stand against terrorism, saying "terrorism is really evil and many innocent people suffer from terrorism."

The President said she was grateful that the Armed Forces of the Philippines would soon be able to win the fight against terrorism "especially now that there are US forces who are helping build up their capability."

NEW YORK (via PLDT) – President Gloria Macapagal-Arroyo Friday justified the presence of American troops in the Philippines, saying the Balikatan war games would "upgrade the capability of our soldiers to fight terrorism."

In an interview by Jane Clayson over CBS’s "Early Show" at 7:00 a.m. (8:00 p.m. Friday in Manila), the President said that at the end of the exercises, the American troops would have trained Filipino soldiers on "state-of-the-art" skills and the military would have gained new equipment.

She said that the entry of American forces in the country for the Balikatan exercises was for the benefit of the country and its peace-loving people.

Acts of terrorism in Southern Philippines perpetrated by the notorious kidnap-for-ransom groups Abu Sayyaf and Pentagon, among others, have negatively affected the socio-economic development of Mindanao and its people.

Asked whether she had anticipated American troopers to sustain casualties during the exercises, the President noted that during earlier discussions with Admiral Dennis Blair, commander-in-chief of the US Pacific Command (CINCPAC), "he made it clear that the government knows the risks of anyone entering into a war against terrorism."

"So, it is a risk that our soldiers have been taking for many years now. It is a risk that everybody in the coalition who joined the war in Afghanistan takes," she said.

NEW YORK (via PLDT)—Around $1.2 billion in additional investments are expected to flow into the Philippines as a result of the business agreements inked during President Gloria Macapagal-Arroyo’s visit to the United Kingdom, Canada and the United States.

Figures from the Department of Trade and Industry indicated that the investments were seen to generate an additional 29,587 new jobs.

The biggest was between Clark Development Corporation (CDC) and the Mace Limited signed in the UK, involving US$850 million and was projected to create additional employment to 28,000 individuals.

Another agreement was signed by CDC and the Clark International Airport Corporation with Garsol Management Innovations, Inc., on the setting up of an international flying training facility.

Worth $300 million, the deal which was signed here in the United States was expected to create 957 new jobs.

In Canada, at least $36.43 million worth of additional investments were projected to flow into the Philippine economy, following the signing of seven memorandums of agreement (MOA).

These included the MOA between Panox Stoneworks and Beluga Canada on the formation of a company to engage in the manufacture and distribution of petroleum equipment tanks and petrol accessories.

This particular undertaking would have a huge export potential and would provide employment to 100 individuals.

A joint venture agreement between EMAIL Finitech and Vichem Coatings was also signed in Canada, involving the infusion of US$17 million and expected to create 200 fresh jobs.

The National Housing Authority also signed a memorandum of agreement in Canada with the Royal Venture on a socialized housing project worth $112 million.

Another agreement was signed by the DTI with CIDA on the Pearl II projects involving $5.73 million.

The Presidential Anti-Graft Commission (PAGC) will sponsor in April a summit of anti-graft and corruption bodies from different sectors of society.

President Gloria Macapagal-Arroyo created the PAGC to assist her in the government’s campaign against graft and corruption.

The PAGC has started investigating and hearing administrative cases. It has also helped prevent graft and corruption.

In a meeting with representatives of groups belonging to the Transparency and Accountability Network (TAN), acting PAGC Chairman Cesar D. Buenaflor said government efforts to fight graft and corruption would be more effective if supported and participated in by citizens.

"Forming close ties with civil society groups and coordinating with them will enhance PAGC’s challenging task of going after corrupt presidential appointees," Buenaflor said.

The PAGC and TAN have conceptualized the summit to launch the collaboration between government and civil society as manifested in specific anti-corruption action plans.

Meanwhile, PAGC will coordinate with other government agencies on the implementation of anti-corruption programs and projects.

The agencies include the Civil Service Commission, Commission on Audit, Department of Justice, Office of the Ombudsman, National Bureau of Investigation, Bureau of Internal Revenue, Department of the Interior and Local Government and the Presidential Management Staff.

PAGC Commissioner and TAN convenor Teresita D. Baltazar said the proposed summit would be the venue for reinvigorating the President’s commitment, as stated in her State of the Nation Address, to significantly address the problem of graft and corruption.

NEW YORK (Via PLDT) – President Gloria Macapagal-Arroyo today disclosed that the Jordanian government has offered to provide the Philippines with intelligence information in its fight against terrorist groups, particularly the Abu Sayyaf.

In a briefing with Manila-based newsmen, the President said King Abdullah of Jordan made this offer during the luncheon for media fellows of the World Economic Forum (WEF) at the Waldorf Astoria here.

In their meeting, the President said the Jordanian King informed him that about 70 percent of the intelligence information that the United States is providing to the Philippine government comes from Jordan.

"He (King Abdullah) told me that they might as well share the information directly to us," the President said.

King Abdullah also asked the President to immediately send to Jordan the head of the National Intelligence Coordinating Agency, Director General Cesar P. Garcia, Jr., to coordinate with his country’s intelligence command.

She pointed out that no details about the exchange of intelligence information was discussed during their meeting but she acknowledged that the Jordanian King was obviously referring to the Abu Sayyaf bandits.

NEW YORK (Via PLDT) – Prospective investors from the United Kingdom, Canada and the United States who met with President Gloria Macapagal-Arroyo lauded the ongoing progress made by the Philippine government to privatize the National Power Corporation (NAPOCOR).

Energy Secretary Vincent Perez today said the foreign investors showed eager anticipation of the final endorsement of the NAPOCOR privatization plan.

Perez said the strategy to first privatize the power firm’s transmission companies (Transcos) before its generation companies (Gencos) gained the agreement of the foreign investors.

Among the prospective investors who met with the President during her trips to the three countries were officials and representatives of the National Grid (UK) PLC, Edison Mission Energy (EME), InterGen, MidAmerican Energy Holdings and Hydro-Quebec.

The UK’s National Grid, for one, has expressed keen interest in equity investment opportunities in power transmission and generation, as well as build power projects in partnership with local governments.

This included the extension of existing networks, facilitation of new connections to a transmission system and interconnections.

Another British company, InterGen, informed the President that it was highly satisfied with the firm’s current investment in Quezon province.

The project involves a 440-megawatt facility, said to be the first build-own-operate power project in the Philippines.

The plant utilizes imported low sulfur and an on-site seawater desalination plant that provides the facility’s water supply.

Its staff members are also involved in livelihood training programs that benefit some 300 residents in the area and boost the local economy. Intergen also operates a day care and health center.

On the other hand, the US-based Edison Mission Energy (EME) said it was interested in investing in generation companies representing a broad-range of fuel types.

One of the key factors in EME’s investment decision was that transitional supply contracts for the Gencos be put in place.

MidAmerican Energy Holdings Co. conveyed to the President its interest in participating in the Genco bidding and making further investments in the Philippine electricity sector.

MidAmerican and its subsidiaries -- MidAmerican Energy, Northern Electric and Gas and CalEnergy -- are established leaders in the production of energy from diversified fuel sources including geothermal, natural gas, hydroelectric, nuclear and coal.

It is also a lead supplier and distributor of energy in the rapidly deregulating US and UK consumer markets, with more than 3.3 million electricity and gas customers.

Hydro Quebec, one of the leaders of the North American energy industry, was primarily interested in hydroelectric plants.

NEW YORK, Feb. 3 (PNA via PLDT) -- President Gloria Macapagal-Arroyo challenged foreign investors and economic leaders Saturday (Sunday in Manila) to take a look at the Philippines' economic viability and see for themselves whether the country is a good site for investment.

At the country briefing of the World Economic Forum at the Waldorf Astoria Hotel here, the President expressed confidence that any critic would be convinced of the improving state of the Philippine economy, as attested to by even the leading international credit rating agencies and multilateral bodies.

"I believe the most practical judgment of our economic viability is reflected in the markets. The latest bond offering early this year was subscribed three times over, and at a good rate," she said.

She noted that "even the less complimentary Salomon Smith Barney projected that the Philippines would "stay close to its more difficult targets in 2002."

Quoting the credit research agency, the President cited findings that "the increasing risk appetite in 2002 should favor the Philippines among Asian sovereigns."

President Gloria Macapagal-Arroyo expressed confidence that the Philippine economic growth in 2001 will be sustained in the years ahead since it is led not just by consumption, but by investment.

The President said the Philippine economy would be even more upbeat this year.

"Now it is clear that our full-year growth was investment-led, with domestic capital formation rising 4.3 percent amidst a world where there is disinvestment in many economies," she said.

According to the President, Salomon Smith Barney traces the country's economic growth "to strong personal consumption and some well-performing agriculture and services sectors."

Citing the Salomon Smith Barney findings, the President said the economic growth "could be bolstered by the government's growing credibility in the eyes of foreign investors."

However, the President said that contrary to the findings of the credit research group, the growth was not consumption-led but investment led.

"Salomon Smith Barney probably based its evaluation on our first quarter growth which was consumption-led. I think it would even be more upbeat now that it is clear that our full-year growth was investment-led," she said.

Taking pride in the performance of her administration, the President said "leading international credit rating agencies as multilateral bodies such as Nexi, JBIC, the World Bank, and the Asian Development Bank have all responded to our economic performance by endorsiing our enhanced credit worthiness."

She said "JP Morgan reports that the prevailing decline in risk aversion has allowed the continuous improvement in economic fundamentals in the Philippines to finally shine through."

"Much of what the world's investment community has asked of us," have been delivered, she said, noting that this makes the Philippines a good site for foreign investments.

The President added that the Power Reform Act and the Anti-Money Laundering Law, which have "long been considered litmus tests of our political will" have already been enacted into law.

NEW YORK (Via PLDT) – President Gloria Macapagal-Arroyo today said she planned to tap the services of former New York Mayor Rudolf Giuliani as consultant for peace and order.

The President made the disclosure during a briefing with Manila-based newsmen in her suite at the St. Regis Hotel here.

She said the idea of tapping Giuliani’s services was broached to her by the International Board of Advisers of the World Economic Forum (WEF).

The WEF advisers included top officials of world-renowned corporations and institutions such as Maurice Greenberg, chairman of the American Insurance Group; Stephen Zuellig of the Swiss-based Zuellig group of companies; Laura d’ Andrea-Tyson, Dean of the London Business School; Andrea Jung, CEO of Avon Products; and Stephen Bosworth, former United States ambassador to the Philippines and now the Dean of Fletcher School.

Giuliani, in particular, would be adviser on policies concerning the state of peace and order in the Philippines.

It could be recalled that it was during the time of Giuliani as mayor when the crime rate in New York City had drastically gone down.

The President said since Giuliani has retired in politics, there was a possibility that the latter might accept the consultancy job.

Should Giuliani accept the offer, the President stressed that the former New York City mayor would be compensated for his services.

Giuliani retired from public office after serving for three consecutive terms as mayor of New York City.

NEW YORK (Via PLDT) -- A huge crowd of Filipinos living in New York trooped to the commercial establishments owned by Filipino-American businessmen in Queens to welcome President Gloria Macapagal-Arroyo Saturday and assure her of their support for the country's fight against poverty and terrorism.

"She is our President and we need to support and trust her to uplift the lives of the people back home," said Nel Castellvi, owner of the popular Bistro Castellvi and the Tropical Island Restaurant and Grill.

He said "this is a critical moment in our history where every Filipino must support the President to save the country from enormous political, social and economic problems."

Hours before the President was scheduled to arrive in Queens at about 10 a.m. here, Filipinos living in New York City and nearby areas flocked to restaurants owned by Filipino-Americans to get a seat in establishments which the Chief Executive was set to visit, and make sure they catch a glimpse of her.

Filipino-American Bienvenido Laredo, a senior citizen, said Filipino residents in the area "are excited to get a glimpse of our President, especially now that the Philippines is all over the news."

"We are truly honored to have her here. I think she has done a good job in her one year in office," said Jay Angeles, vice-president of the Johnny Air Cargo.

Angeles also said he was impressed at how the President has been "handling the problems (of the Philippines) well, especially the fight against terrorists."

NEW YORK – President Gloria Macapagal-Arroyo today expressed elation over reports that the prestigious business research group Bloomberg has cited the Philippines as the best performing index from December 31, 2001 to February 1, 2002.

Bloomberg figures showed that the Philippine composite reached 19.38 points.

Jakarta followed with 16.66 points; Russia with 12.18 points; Thailand, 12.18 points; Budapest, 11.17 points; Singapore 10.45 points; Mauritius, 9.94 points and Mexico, 9.36 points; Nikkei –9 points; Stockholm -9.24 points; China Shanghai, -9.57 points; Brazil, -10.45 and Hang Seng, -10.6.

The good news on the performance of the Philippine composite index was conveyed to the Philippine government by New York fund manager Lilia Clemente in a meeting with Environment Secretary Heherson Alvarez.

In a press briefing, President Macapagal-Arroyo said the Bloomberg figures did not come "by accident."

"Look at our stock markets, look at our bond offerings, look at what JP Morgan said... All of those don't come by accident," the President said.

She said "JP Morgan reports that the prevailing decline in risk aversion has allowed the continuous improvement in economic fundamentals in the Philippines to finally shine through."

During the country briefing at the World Economic Forum (WEF), the President noted that "even the less complimentary Salomon Smith Barney projected that the Philippines would stay close to its more difficult targets in 2002."

Quoting the credit research agency, the President cited findings that "the increasing risk appetite in 2002 should favor the Philippines among Asian sovereigns."

President Macapagal-Arroyo expressed confidence that the Philippine economic growth in 2001 would be sustained in the years ahead since it was led not just by consumption, but by investment.

The President said the Philippine economy would be even more upbeat this year.

"Now it is clear that our full-year growth was investment-led, with domestic capital formation rising 4.3 percent amidst a world where there is disinvestment in many economies," she said.

According to the President, Salomon Smith Barney traced the country's economic growth "to strong personal consumption and some well-performing agriculture and services sectors."

Citing the Salomon Smith Barney findings, the President said the economic growth "could be bolstered by the government's growing credibility in the eyes of foreign investors."

However, the President said that contrary to the findings of the credit research group, the growth was not consumption-led but investment led.

"Salomon Smith Barney probably based its evaluation on our first quarter growth which was consumption-led. I think it would even be more upbeat now that it is clear that our full-year growth was investment-led," she said.

CHICAGO (via PLDT) -- President Gloria Macapagal-Arroyo underscored Sunday (Monday in Manila) the urgency of forming and mobilizing a global grand coalition against terrorism and poverty.

"If we do not fight poverty in the world, then another generation will be brought up with resentment that becomes the breeding ground for the recruits of terrorism," the President said during a luncheon meeting of the Economic Club of Chicago held at the Peninsula Hotel here.

In response to a question on terrorism raised by Michael Moscow, chairman of the Economic Club of Chicago, the President said: "It’s not poverty that causes terrorism. It’s evil that causes terrorism. But it is poverty that provides the breeding ground for those vulnerable to the silent call of terrorism."

"Let the movers and shakers of the world now get together in another grand coalition. Let us fight and defeat poverty once and for all," the President said, adding that "we cannot have another generation of poor people all over the world."

The President explained that right now, one-fifth of the world lives on less than one dollar a day. "That’s why we have terrorism spreading its ugly wings all over the world," she added.

The President told the business leaders of Chicago that her administration is trying to eradicate poverty in the Philippines as one way of fighting terrorism, especially in Mindanao.

"We try to fight terrorism in Southwestern Philippines but we also try to fight poverty and we want to defeat it decisively within the decade," the President said.

The President said that is the main reason why she has been pushing for investments in the Philippines "because that’s the way to fight poverty in a free enterprise economy."

"To create jobs, we have to create investments. And to create investments, we have to have good macro economic climate," she stressed.

The President then asked the American business leaders present in the meeting to invest in the Philippines as she cited the many measures being undertaken by her administration to attract foreign investors.

The President, who arrived here at 10 a.m. Sunday (12 midnight in Manila), said this message was what she relayed to the participants to the annual meeting of the World Economic Forum in New York.

The President said both the United States and the Philippines are allies not only in security but also in economics.

CHICAGO (Via PLDT) –President Gloria Macapagal-Arroyo today extended the gratitude and support of her one-year-old administration as well as the 76 million Filipinos to the Filipino community in Chicago for their contributions to the Philippine economy even as she urged them to continue investing their money in their homeland.

She also asked the members of the Filipino-American community to unite and link up arms in order to ensure the Philippines’ march to progress and development.

"This is a good time for you to put your investments or to expand your business in your homeland," the Chief Executive said during her speech after the Mass for Peace at the Our Lady of Mercy Parish Church in the northwest area of Chicago where many Filipinos reside.

"Filipinos are indebted to our brothers and sisters in the United States, the great Filipino workers in the US, for many reasons," she said.

"On top of the good reputation you have given to our country as home of the great Filipinos," the President said, millions of young Filipinos were able to go to school and finish their education "because of your help and support."

She also cited the thousands of housing units that are being built for their loved ones back in the Philippines who likewise live a new life.

The President also noted that even barangays, towns and cities and even provinces became alive and progressive because of the contributions of the overseas Filipino workers.

"Kaya kayo ay major economic investor sa ating bansa (That’s why you are a major investor in your own country)," she said.

Because of this, the President told the Filipino-American present during the Mass, that they are apt to be called Filipino Overseas Investors because of their contributions.

During her speech, the President announced that the Absentee Voting Bill, based on reports from representatives of both house of Congress, will be enacted into law within the year.

The President arrived here at 10 a.m. Sunday (12 midnight in Manila), accompanied by First Gentleman Jose Miguel Arroyo, other members of her Cabinet and other government officials from a four-day working visit in New York.

CHICAGO—President Gloria Macapagal-Arroyo said Sunday (Monday in Manila) that the war waged by the Philippine government against terrorism in Mindanao is not directed against any religious group.

In her remarks at a Mass for Peace offered at Our Lady of Mercy Church here, the President said that Filipinos have a unique view of the issue of terrorism.

"From a few small islands in Southwestern Philippines to the grand island of Manhattan, we have seen what terrorism can do to our society, our economy, our security and our sense of moral purpose," the President said.

"But this is a war that must be devoid of any religious undertones," the President said.

The President said that she found it proper, through the Mass for Peace offered in the church, to seek comfort, tranquility and peace "for ourselves, for our countries—the Philippines and the United States—and for the rest of the world."

She said that she and her countrymen have felt the pain of terrorism first and knew it must not spread to the rest of the world.

"That is why we were the first in Asia to lend our support to the international coalition against terrorism," the President said.

The Chief Executive said that the Philippines has institutionalized the tools of autonomy, consensus and inter-faith dialogues with its brother Muslims in Mindanao.

She said that the Moro Islamic Liberation Front (MILF), with which the government has forged a ceasefire, was also among the first to renounce the Abu Sayyaf and any link with the al-Qaeda terrorist network of Osama bin Laden.

The President said that our Muslim brethren in Mindanao have reaffirmed their solidarity with the Filipino nation when they voted for the new leaders of the Autonomous Region in Muslim Mindanao (ARMM) in November last year.

President Gloria Macapagal-Arroyo is set to arrive in the country tomorrow morning after an eight-day visit to the United Kingdom, Canada and the United States.

The President, who is expected to plane in around 6 in the morning, brings home the good news for Filipinos about investment agreements signed during her trip and the accolades the government reaped for fighting terrorism and poverty in this side of the world.

In London, her first stop, the President sealed the United Kingdom’s commitment to pursue avenues for greater trade with the Philippines, with British investments to Philippines expected to increase by $2 billion to $3 billion.

She also worked out with Scotland Yard the training of Philippine National Police members for the fight against transnational crimes, including kidnapping.

The President and British Prime Minister Tony Blair also agreed there is a need to fight poverty in order to win the war against terrorism.

Blair also assured the President that the United Kingdom, one of the world’s richest countries, would work for the increase of the official development assistance to the Philippines.

In Ottawa, the President and Canadian Prime Minister Jean Chretien signed six bilateral agreements that will expand bilateral cooperation between the two countries. Under these accords, Canada will contribute a total of $25 million over five years to support bilateral projects in the Philippines.

Chretien also lauded the President for being the "first and most outspoken" Southeast Asian leader to support the US-led international coalition against terrorism.

According to Chretien, the relationship between the Philippines and Canada has been renewed and made stronger by the two countries’ expanded dialogues since the September 11 attacks on the United States.

In New York where she attended the World Economic Forum, the President voiced confidence in the success of the US-led international coalition in the war against terrorism. She said the global coalition must now be mobilized in the fight against poverty to defeat it once and for all.

The President also asked foreign investors in the US to look at the improving state of the Philippine economy as attested to by even the leading international credit rating agencies and multilateral bodies.

In Chicago, the President underscored the urgency of forming and mobilizing a global grand coalition against terrorism and poverty.

"If we do not fight poverty in the world, then another generation will be brought up with resentment that becomes the breeding ground for the recruits of terrorism," she said. "Let the movers and the shakers of the world now get together in another grand coalition. Let us fight and defeat poverty once and for all."

President Gloria Macapagal-Arroyo has tapped the services of Mayor Rudolf Giuliani as consultant for the country’s peace and order because he has a proven track record of reducing the crime rate of New York City during his term, Press Secretary Noel Cabrera said today.

Giuliani, who retired from public office after serving three consecutive terms as New York City mayor, is Time Magazine’s Person of the Year 2001 following his significant role in the aftermath of the September 11 terrorist attacks at the World Trade Center.

"The President is impressed with the achievements of Mayor Giuliani," Cabrera said. "If he can help, then we welcome his help," he added.

Cabrera noted, however, that crime statistics indicate that government authorities have gained ground in the fight against criminality. For instance, cases of cellphone snatching have been greatly reduced following the President’s order for more police visibility in the metropolitan areas.

The President disclosed her plan to tap Giuliani’s services as consultant for peace and order while she was in New York for the World Economic Forum.

It could be recalled that it was during the time of Giuliani as mayor when the crime rate in New York City was drastically cut down.

The President said that since Giuliani has retired from politics, there was a possibility that he might accept the consultancy job.

NEW YORK—President Gloria Macapagal-Arroyo has emphasized over the weekend her economic philosophy that puts a premium on growth with equity, inclusiveness and a strong bias toward poverty alleviation.

The President stressed her economic philosophy during the inaugural meeting of her International Board of Advisors (IBA) held at the St. Regis Hotel here during her four-day working visit to this city to attend the annual meeting of the World Economic Forum (WEF).

During the meeting, the members of the IBA discussed ways on how to promote the global competitiveness of the Philippines.

The board members present were: Maurice R. Greenberg, chairman and chief executive officer (CEO) of AIG; Minoru Makihara, chairman of Mitsubishi Corporation; Marce Fuller, CEO of MIRANT Energy Corporation; Andrea Jung, chairman and CEO of Avon Products, Inc.; Laura D’Andrea Tyson, dean of the London Business School and former chairman of the Clinton National Economic Council; Stephen Bosworth, senior advisor (Asia) of JP Morgan and concurrently dean of the Fletcher School of Diplomacy; and Dr. Stephen Zuellig, chairman of the F.E. Zuellig Group.

Prior to the two-hour meeting with the President, the board members were briefed on the country’s medium-term economic program by Finance Secretary Jose Isidro Camacho, Bangko Sentral ng Pilipinas Governor Rafael Buenaventura, Energy Secretary Vincente Perez and Trade and Industry Undersecretary Gregory Domingo.

The next IBA meeting will be held in the third quarter of 2002. The other members who will join the upcoming meeting are: Junichro Miyazu, president of NTT Corporation; Maarten van den Bergh, chairman of Lloyd’s Bank; E. Gerard Corrigan, managing director of Goldman Sachs and former chairman of the Federal Reserve Bank of New York; Dr. Victor Fung, chairman of Li and Fung; Anthony Burgmans, chairman of Unilever NV; and Paul Keating, former Prime Minister of Australia.

Ambassador Roberto R. Romulo, presidential senior advisor on international competitiveness, is the executive director of the International Advisory Board.

"The Board is expected to help identify and examine what makes a country able to compete successfully in the global market-place. These could include specific business, industrial, agricultural and government practices that inhibit international competitiveness," Romulo said.

Romulo added that a recent survey showed that the Philippines was slipping in competitiveness ranking. "Factors considered critical to global competitiveness include education, a pro-competitive environment, research and development and productivity," he said.

The background and expertise of the 13 advisors cover a range of industries from insurance and banking to telecommunications, from academe and diplomacy to national governance.

President Gloria Macapagal-Arroyo said her administration was heartened by today’s upgrade in its ratings outlook by Moody’s Investor Service to "stable from negative."

President Macapagal-Arroyo commented: "This positive development ratifies both our economic plan and political agenda. Those who watch the Philippines recognize that we have made significant progress in stabilizing our economy and that we are now on the right track towards my administration’s vision of equitable growth and poverty alleviation."

Secretary of Finance Jose Isidro Camacho said "the Moody’s upgrade is a strong acknowledgement by the international financial community that our fiscal discipline and other macroeconomic reforms have contributed to our strong performance in 2001 and will be a springboard for our economic success going forward."

"This came as a pleasant surprise to us all in the government, especially since Moody’s began their annual review in December with an initial bias to downgrade the Philippines, a trend seen in many sovereign and corporate ratings after the September 11 incident," Camacho added.