CLOSING REMARKS By Mr.

Rhicke Jennings President, American Chamber of Commerce of the Philippines Managing Director for Fedex Indonesia and the Philippines Friends of Arangkada, distinguished guests, corporate and business association sponsors, forum delegates, my name is Rhicke Jennings, and I am the president of the American Chamber of Commerce of the Philippines. Mr. Secretary, on behalf of the Joint Foreign Chambers and all forum participants, including those watching our webcast, I thank you for joining our Third Anniversary Forum and making such an excellent keynote address. The policies and programs that you have articulated present a coherent and sensible approach to the challenge of job creation and poverty reduction confronting the Philippines. These are messages which both the public and private sectors can embrace and seek to implement to improve opportunities for all Filipinos, especially the youth. In closing our Third Anniversary Forum, there are many to thank and several key conclusions to share. Allow me to acknowledge and express appreciation to our outstanding speakers. Please save your applause until the end. 1. Chief Justice Maria Lourdes Sereno inspired us in her keynote speech with an implementable vision for better justice in the Philippines. 2. In his keynote speech Secretary of Socioeconomic Planning Arsenio Balisacan addressed us on behalf of President Aquino, providing an update on many ongoing reforms and explaining strategies to establish sound foundations for inclusive growth. 3. Secretary of Public Works and Highways Rogelio Singson presented a program to build roads, bridges, and flood control systems that is well-funded, being implemented with minimal corruption, and will improve ground transportation by the end of the presidential term.
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4. PEZA Director General Lilia de Lima She is a great friend of the JFC and exporters. We congratulate DG de Lima on receiving our Second Arangkada Lifetime Achievement Award and thank her for sharing such positive news about rising FDI inflows and plans to support investment in poorer regions. 5. Former Secretary Bobby de Ocampo again treated us to his wise and witty commentary on the national economic and business environment. 6. National Competitiveness Council Co-Chair Bill Luz lifted our spirits with his explanation of how the countrys competitiveness is changing and can with hard effort reach the top-third in global ranks. 7. US Embassy Deputy Chief of Mission Brian Goldbeck shared an enlightening message from his government, which is supporting Arangkada under President Obamas Partnership for Growth. Donor support for investment climate reform leads to more jobs. 8. Dr. Rogier van den Brink shared with us the important analysis and policy reforms in the World Banks seminal study Creating More and Better Jobs. 9. Three top news media personalities assured a high level of insightful discussion. We thank Coco Alcuaz, David Celdran, and Maria Ressa for asking the most relevant questions. 10. Our 9 panelists with their broad experience and expertise were again a highlight of our anniversary forum. Arangkada would not be possible without the support of such private sector experts and investors. 11. We also thank the 31 experts who completed the assessment of the implementation of Arangkada recommendations, which would not be possible without you. 12. We thank members of the media with us today. You have a crucial role in job creation by communciating Arangkada. We remind media representatives to attend the press conference to be held at the tables near the stage immediately after the Forum closes.

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13. And thank you to my JFC colleagues who spoke today and for the staff of AmCham, the Arangkada Philippines Project, other JFC members, and the TeamAsia event management firm who put in many long hours over several months. Lets give a big round of applause for all our great speakers, panelists, moderators, assessors, corporate and business association sponsors, and everyone who worked hard to make this forum a success. Finally, all successful events must have participants. On behalf of the JFC, we wish to thank all of you and those from around the world who tuned in to our webcast. We welcome your comments and questions which can be sent by email to forum@arangkadaphilippines.com. Wrap-up Conclusions: The 2013 Assessment is posted on the website. All speeches will also be posted there, as well as complete video of the forum. In his Message to todays forum, President Aquino wished us an enaging and productive forum and stated May your ideas create actionable initatives to ensure that our reforms lead to better education for our students, secure and stable employment for our workers, greater innovation for our industries, and a brighter future for our country. Mr. President, I believe we can assure you that this Forum has met your expectations. In closing, I wish to highlight some conclusions: 1. Poverty, unemployment, and underemployment remain stubbornly high in the Philippines. 2. Sustained and inclusive economic growth and strong educational and health systems are prerequisites to reduce poverty. 3. High economic growth of 8% and above in the Philippines will require: High levels of sustained investment in the economy, including foreign direct investment;
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Transfer of technology that comes with FDI; and Maximizing the potential of the big winner sectors. At present, ICT is moving at the strongest pace, followed by tourism with manufacturing picking up. Intensified actions are needed to speed up growth of agribusiness, creative industries, infrastructure, and mining.

4. Foreign direct investment will be attracted to the Philippines by: Good infrastructure; Availability of an educated labor force and accessible natural resources; Sound economic and pro-business policies; Internationally competitive costs; A judicial environment with consistent, timely, and enduring decisions; Corrupt-free governance and commercial practices; and Safety for persons and security for investments in physical assets. 5. None of these conclusions are new revelations. All are achievable. And none are unrealistic aspirations for the Philippines to have and to expect. 6. In todays global context with the right political, economic and business leadership, the Philippines has an extraordinary opportunity. The Philippines can move forward Twice as Fast, and Realize the Potential, and with More Reforms create More Jobs!!! Maraming salamat po!

The Arangkada Philippines Project (TAPP)

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