We congratulate President Rodrigo R. Duterte for his recent fourth quarter 2019 approval rating survey results of 87 percent, which is unique for an incumbent president of the republic at mid-term or three years in office.

Local business expects the economy to further soar in 2020 as the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) projects growth to hit 6.5 percent to 7.5 percent next year as the Palace said development targets are within reach if the public give full support to the Duterte administration’s policies and programs.

Presidential Communications Operations Office (PCOO) Secretary Martin Andanar said on Saturday the participation of those in the government and of its citizens is necessary to continue and further the achievements of the administration thus far.

“It is through working together and being positive that we can not just hope for a better future, but expect one for 2020 and beyond,” he added.

The solid mandate of President Duterte also ensures stability for the next year, FFCCCII president Dr. Henry Lim Bon Liong said.

“We congratulate President Rodrigo R. Duterte for his recent fourth quarter 2019 approval rating survey results of 87 percent, which is unique for an incumbent president of the republic at mid-term or three years in office. We believe this means that the government’s poverty alleviation and socio-economic reforms, and his anti-crime campaign are succeeding and helping social progress,” the FFCCCII chief stressed.

Andanar noted the recent Social Weather Stations (SWS) survey results that showed most Filipinos wanted to welcome 2020 with hope rather than with fear.

The survey showed that 96 percent of adult Filipinos will face 2020 with hope, while only four percent will welcome the incoming year with fear. Andanar was elated that public optimism dominates, despite the challenges that beset the country this year.

FFCCCII also noted that in 2020, business optimism is high due to expectations of increased domestic and foreign investments, continuing economic reforms, good fiscal and monetary policies, benign inflation rate, political stability, the expected major acceleration in infrastructure expenditures, the prevailing tourism boom and implementation of state technical and credit support for rural farmers.

“We hope in this era of ‘Build, Build, Build,’ we can also support our Filipino farmers with a ‘Grow, Grow, Grow’ campaign for agriculture modernization. In my personal capacity, I am advocating a ‘Masagana 300’ program in partnership with Presidential Adviser for Entrepreneurship Joey Concepcion’s GoNegosyo non-government organization to encourage the estimated 2 million Filipino rice farmers to boost rice production to 300 cavans per hectare,” FFCCCII’s Lim indicated.

The FFCCCII chief said the trade group is fully behind the government in aiming for a grade A investment rating for the Philippines from international credit rating agencies, thus we support the Corporate Income Tax and Incentives Rationalization Act or CITIRA to lower corporate income tax from 30 percent to 20 percent and to rationalize investment incentives.

Lim cited as an important, positive milestone in 2020 will be the upcoming 45th anniversary of diplomatic relations between two ancient allies and trade partners the Philippines and China, amidst flourishing economic and infrastructure cooperation, cultural diplomacy and other people-to-people exchanges.

“The strengthening of our traditional good relations with China is good news for the Philippine economy, as we compete with our ASEAN (Association of Southeast Asian Nations) and Asian neighbors in tapping the world’s largest consumer and tourism market of 1.4 billion people,” Lim added.

FFCCCII said it will pursue its numerous economic, business, socio-civic and cultural advocacies include promotions of increased investments; welcoming of foreign investors; helping create more new jobs; relief assistance for victims of typhoons and other calamities and donation and construction of public school-buildings under FFCCCII’s “Operation Barrio Schools” civic project.

“We have great faith in the bright and more inclusive future of the Philippine economy, therefore we shall invest more and encourage other fellow entrepreneurs here and abroad to do more business in the Philippines,” the business leader noted.

Andanar, likewise, indicated that the Palace is heartened that majority of Filipinos will welcome 2020 with hope as reflected in the recent SWS Survey.

“We Filipinos by nature, are very optimistic and forward-looking and can often see the best in the most trying of circumstances, a trait that allowed us to succeed against all odds,” the Palace aide said as he noted President Duterte’s wish for the New Year is for Filipinos to have a “comfortable life” and enjoy “lasting peace.”