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Home / VP News / Press Release / Government

Posted: Thursday, February 28, 2013

The government is focusing to get more foreign investments in three priority sectors, namely tourism, agriculture, and infrastructure, Vice President Jejomar C. Binay said.

Speaking during the Arab Gulf Programme for Development (AGFUND) awarding ceremony Monday night, Binay said tourism has an “immediate effect” on the Philippine economy with one new job created for every tourist that arrives.

“Tourism, for us, is a key sector that could really have a significant impact on this administration’s twin goals of poverty reduction and inclusive growth,” he said.

The Vice President said the government also has its sights set on stimulating more agriculture-related investments “because this sector plays to the key strengths of our country and tends to spur growth in our rural areas.”

“This administration has been working towards rice self-sufficiency by going back to the basics and helping our farmers through improved irrigation systems and, among other things, a genuine certified seeds program,” he said.

“Another sector that we want to prioritize is infrastructure because it is the key to further growth and development in tourism and agriculture, among other sectors. The lack of paved roads or adequate transportation hubs has a direct effect on the quality of produce and the convenience of tourists who wish to see the different parts of our country,” he added.

The Vice President called for continued collaboration between the government and the private sector, including international organizations and other stakeholders towards attaining inclusive growth, sustainable progress and greater peace and stability.

“To make all these possible, it is incumbent upon the different sectors to bring their expertise to the table; it must involve everyone. Nation building is never about those at the top huddling together to impose their ideas on everyone else; it is about the whole spectrum of society pulling together, steadily marching together towards a single destination,” he said.

The AGFUND International Prize is regarded as an extension of AGFUND’s advocacy on human development. It covers a variety of fields such as poverty alleviation, microfinance, water, environment, rural development, health, education, women and child development, youth empowerment, technology, and food security.

AGFUND was established in 1980 upon the initiative of His Royal Highness, Prince Talal Bin Abdul Aziz Al Saud of the Kingdom of Saudi Arabia, with the support of leaders of the Gulf Cooperation Council Countries including the United Arab Emirates, Kingdom of Bahrain, the State of Qatar, the Sultanate of Oman and the State of Kuwait.