World Bank exec: Peace in Mindanao key in RP’s catch up plan
Peace inis an important piece of the country’s strategy to catch up with the rapid developing and growing economies in Asia, Joachim Von Amsberg, World Bank country director told reporters Wednesday.
He said it is important to improve the country’s investment climate which includes work to assure security for investors to come in.
Amsberg said the World Bank and the other donor agencies involved in pouring in development support toare looking at reducing poverty.
He said up for deliberation at the Philippine Development Forum in Cebu next week will be how to translate present gains in the fiscal reforms will be translated into actual investments.
He said peace and development is an important ingredient of the strategy.
He said both local and foreign investors are worried about putting capital in a situation with a perception that there are issues that risk the investment environment.But he said the international community’s flow of financial support is just a small portion of the Philippine economy. He stressed they are just here to support the government’s programs which is still the source of much of the resources for development.