philippines-at-a-tipping-point-says-arroyo

Philippines "at a tipping point", says Arroyo

Gloria Macapagal-Arroyo tells delegates at the Credit Suisse Asian Investment Conference that the Philippines has turned the corner.
The Philippines will be a first-world country within a generation, President Gloria Macapagal-Arroyo told foreign investors during a keynote speech at an investment summit in Hong Kong.

We are at a tipping point, she said. And I'm confident that the Philippines will tip forward. For now, she has good reason to be upbeat û 2007 was the best year for the Philippines economy in more than 30 years, with economic growth of 7.3% and the creation of one million new jobs. And landmark deals, such as the $3.5 billion acquisition of Mirant by the Tokyo Electric Power-Marubeni consortium, showed that foreign investors are coming back too.

The foundation for this economic growth, said Arroyo, was...
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