Philippines-New Zealand Business Forum in Auckland, New Zealand

[MikeLigalig.com]

by pna

President Benigno S. Aquino III has invited the New Zealanders to visit the Philippines, saying this is the best time to invest in the country because of the genuine reforms initiated by his administration to reduce the opportunities for corruption.

In his speech before the Philippines-New Zealand Business Forum in Auckland, New Zealand Tuesday, President Aquino announced to the businessmen leaders of New Zealand that the Philippines is now open for business.

A copy of the speech was released in Manila by Malacanang to media.

The President, in New Zealand for a two-day State Visit, shared the many other opportunities present in the country.

He cited the geothermal energy and the Business Process Outsourcing Industry as some of the sectors in which investors may be interested in.

“One of the areas of mutual interest to our countries is geothermal energy. We have already collaborated in the past, and this provides a solid foundation as we continue to work together through measures like the Geothermal Energy Cooperation Arrangement, which will allow us to share best practices and knowledge, and facilitate private-sector activity,” he stressed.

“I understand that we still have somewhere in the neighborhood of 2,000 megawatts of untapped geothermal resources, and we can maximize these available opportunities together,” the President said.

He noted the Dept. of Energy has an investment promotion program entitled the Open and Competitive Selection Process, in which geothermal energy prospects are offered to private investors for bidding.

“Another area that should hold great interest is our Business Process Outsourcing Industry, which has as its backbone the capable, easily-trained, and customer-oriented Filipino people. It is because of them that the Philippines is currently the world leader in voice BPO services, posting 7.38-billion U.S. dollars in revenue for 2011,” the President said.

“I am proud to say, however, that we are diversifying, and moving up the value chain in BPO services, offering more complex services such as healthcare information management outsourcing, backroom engineering design, and animation and game development among others,” he said.

President Aquino said that more than 700 companies have already bet on the Philippines and, “with rapid increases in employment and revenue for the BPO industry, our country has not disappointed,” he added.

The President also assured the participants attending the business forum of a level playing field for business adding that investors will win contracts based on their ability to deliver projects not on backroom deals and political favors.

“What we are bringing to the table today—that we believe administrations in the recent past have not been able to offer—is a business climate characterized by fairness and integrity --- where rules are clear-cut, where all are given the opportunity to profit, and where your success is determined by your strengths, adaptability, and ability to innovate,” he explained.

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