Bizman: Local economy getting ‘healthier’
CITY OF SAN FERNANDO – A top official of the Pampanga Chamber of Commerce and Industry Inc. (PamCham) said the local economy is now getting healthier as projected.
PamCham vice chairman Rene Romero, now co-chairman [representing the private sector] of the Regional Competitiveness Council, said the advent of the 2013 elections, the country’s earning recently positive ratings in competitiveness and the re-election of US President Barack Obama are contributing to the rebound of the local economy and the boosting of the purchasing power of consumers like Kapampangans and Filipinos in general.
He earlier projected – based on local parameters and observations of colleagues at PamCham – that the economy will be shaky but not alarming, due to the “burning out” of giant economies like the US and China and insufficient circulation of money locally.
He said then that the economy will gain momentum at the onset of elections in October and could last until June next year when money remains in steady circulation.
“Money has started circulating because of the coming elections when candidates filed their certificates last month. Consumer spending towards the Christmas Season is growing because of this, as they are beginning to have stronger purchasing power. This is evident now in malls and other stores where people are buying an assortment of products and goods,” Romero said.
Romero added that the positive rise in the country’s competitiveness index is another factor in buoying up the local economy. “That is a good sign for investors, exporters and the labor sector, since more jobs will be generated, remittances increased and exports expectedly returning to normal levels. We are hopeful with these especially with the re-election of US President Barack Obama.”
He said the decision of Americans to give Obama another term is “practical” and will have effects on its and the Philippines’ economic landscape.
“And since the Philippine economy is affected by US policies, we expect them to rebound as well and gain positive results from renewed trade, especially our exports to them…” Romero said.
“With all these factors positively interplaying until next year, we in the industry and private sector are optimistic of a healthier local economy and greater purchasing power for consumers,” he added.
http://www.sunstar.com.ph/pampanga/local-news/2012/11/11/bizman-local-economy-getting-healthier-252783
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(045) 599-5600
0922-870-5178
0917-520-4401
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Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
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