2015 Philippines in Review

WASHINGTON, D.C. – At a December 10, 2015 year-end presentation at the Philippine Embassy, featured speaker Ambassador Jose L. Cuisia, Jr. described to a capacity audience how strong macroeconomic fundamentals, prudent fiscal management and good governance policies have propelled the Philippines as the most improved business destination in 2015.  Citing the latest ASEAN Business Outlook Survey, 81 per cent of Philippine business owners expect profits to increase in 2016.

The Philippines’ hosting of 2015 APEC summit is deemed a success.

• It pushed its agenda of sustainable development and inclusive growth by empowering SME’s and structural reforms.
• The Philippines signed bilateral economic and strategic agreements with APEC member economies.
• President Obama reaffirmed the U.S. commitment to maritime security assistance in the region with a two-year aid package of $259 million. $79 million is earmarked for the Philippines.
• 10,000 APEC visitors gave a boost to the tourism industry.

On the South China Sea Arbitration Case, Ambassador Cuisia referred to the November 30 Concluding Remarks of Secretary Del Rosario at the Permanent Court of Arbitration.