Speedy Economic Rebuilding for More Investments, Jobs

By Lobo, Fred M. | Manila Bulletin, February 13, 2001 | Go to article overview
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Speedy Economic Rebuilding for More Investments, Jobs


Lobo, Fred M., Manila Bulletin


LIKE a phoenix rising from the ashes, the country must move fast towards serious economic rebuilding.

Greater efforts must be exerted at attracting more investments, both local and foreign, boosting economic and business activities and subsequently creating more jobs and opportunities for our people.

Obviously, we have to do a lot of catching up under the newly installed MacapagalArroyo administration. The economy has been badly shaken by the recent political storm under the Estrada administration while still staggering from the punches of the Asian economic crisis - or in effect, a double whammy. And we lost a lot of investments and job opportunities due to capital flight and foreign investors' loss of confidence.

With political stability, investors' confidence and international goodwill back in the horizon, now is an ideal time for economic rebuilding.

The government, in cooperation with the private sector, must adopt and set in motion the necessary economic reforms, policy changes and paradigm shift needed by a recovering and eventually robust economy.

Apparently, there is light and hope in what President Gloria Macapagal-Arroyo has prescribed in her inaugural address: new economics.

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