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Thursday, December 28, 2006
Local traders see bullish RP economy for 2007
By Albert B. Lacanlale
CITY OF SAN FERNANDO --- Despite the advent of another election that is expected to polarize the country anew, local businessmen here are optimistic of a good economy for the Philippines in 2007.
Rene G. Romero, president of the Pampanga Chamber of Commerce and Industry Inc. (PamCham), said next year's elections would bring more positive effects to the country's economy.
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Romero has been recently installed president of PamCham, taking the reins from Clark Development Corp. president and Chief Executive Officer Levy P. Laus.
He said while politicians would start their bickering and mudslinging, the country's fiscal reforms have begun on a positive note to be affected by the political exercise.
The negative effects, he added, would even be felt after the polls since the pre-election period would even boost the buying power of the Filipinos as more people tend to get employment during the election period.
The government's fiscal reforms, Romero said, are "good and effective" causing the local currency to soar to years' high, overshadowing the ill-effects of political conflicts that usually drag the peso down to the cellars.
Romero further said internal and external indicators point to an uptrend in the country's economic performance.
Having attended the recently concluded 4th Asean Business and Investment Summit on December 10 in Cebu City, Romero said the proposed single currency for 10 Southeast Asian nations and three Asian countries would also serve well for the Philippine economy.
Similar to the euro, the proposed single currency of Asian nations had been first brought up during the term of former president Joseph Estrada.
Romero said with the way things are working, the proposed single currency in the region would be realized by 2010 or 2015 with China, Korea and Japan in tow. (Sun.Star Pampanga)
For more Philippine news, visit Sun.Star Iloilo. (December 28, 2006 issue)
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