MANILA — Malacañang on Thursday defended economic managers’ recent trip to United Kingdom (UK), stressing that the trip was meant to encourage foreign investments.
Presidential Spokesperson Harry Roque was reacting to criticisms that the economic team’s trip was ill-timed amid the country’s rising inflation rates and high prices of goods.
“Nandoon sila for a reason – kinakailangan pong i-promote ang Pilipinas as an investment destination (They are there for a reason – they need to promote the Philippines as an investment destination),” Roque said in a Palace briefing.
He added that their trip was “justified” because it was meant to resolve not just inflation, but threats to the country’s economy.
“Kung hindi po natin ibebenta ang ating bayan, hindi naman po pupunta rito ang mga namumuhunan (If we don’t promote our country, investors won’t come here),” Roque said.
He added that the trip could also help provide more jobs to Filipinos.
“At kapag naman po sila ay nakakalap ng investors, magkakaroon tayo ng mas maraming trabaho, mas maraming kapital at mas maraming kita para sa mga Pilipino (And if we get investors, we’ll have more jobs, more capital, and more income for Filipinos),” Roque said.
“So sa tingin ko po, very well-justified po iyong presensiya, lalung-lalo na ng mga (I think their presence is very well justified, especially the) economic managers because they are marketing the Philippines,” he added.
Roque, meanwhile, tagged those criticizing the economic team’s trip as “dilawan (yellows).”
“Hindi po mawawala ang mga tumutuligsa; ang tawag sa kanila ay dilawan (Critics won’t go away; they’re called yellows),” he said, referring to the color of the opposition Liberal Party.
The UK delegation is composed of Finance Secretary Carlos Dominguez III, Budget Secretary Benjamin Diokno, Socioeconomic Planning Secretary Ernesto Pernia, Trade Secretary Ramon Lopez, Public Works and Highways Secretary Mark Villar, Transport Secretary Art Tugade, and Tourism Secretary Bernadette Romulo-Puyat, among others.
They flew to UK to attend the Philippine Economic briefing, a three-day mission to brief British investors on the vast business opportunities in the Philippines’ infrastructure, energy and tourism sectors and to explore ways to expand economic cooperation between Manila and London.
According to the Department of Finance, UK is among the country’s top 10 sources of foreign direct investments.
Dominguez earlier expressed hope that there would be more investment flows from the UK due to Duterte administration’s implementation of policy and infrastructure reforms. (Azer Parrocha/PNA)