7/29/2019 Speech of President Aquino at the Mactan Newtown launch

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Speech of President Aquino at the Mactan Newtown grand launch,February 20, 2013

SpeechofHis Excellency Benigno S. Aquino IIIPresident of the PhilippinesAt the Mactan Newtown grand launch[Delivered in Lapu-Lapu City, Cebu, on February 20, 2013]

Thank you. Good morning. Please sit down.

Secretary Jose Rene Almendras; Dr. Andrew Tan; Mr. Kevin Tan; Rep. Mel Sarmiento;executives, officials, and staff of Megaworld Corporation; local government officials present;honored guests; mga minamahal ko pong kababayan:

Maayong buntag kaninyong tanan.

Just a little more than six months ago, I was in Binondo, Manila, for the inauguration of atop-class mall named Lucky Chinatowna project of Megaworld Corporation. Today, I havethe pleasure yet again of being with Dr. Tan and the employees of Megaworld as they launchan even more ambitious project, in the form of the Mactan Newtown. I have noticed thatMegaworlds name is popping up quite often in the list of projects that I am inaugurating, butthere is no problem with that. At the rate you are investing in the country, I will be more thanhappy to join you for more inaugurations like this one. [Applause]

Im told you have major operations in Iloilo. Perhaps in my lifetime you will come visit us inCentral Luzon alsoI will not object. [Laughter]

I am told that this complex will not simply be a mall or a residential area. The vision is todevelop another Eastwood City, which was one of Megaworlds early successes in township-type projects. This is your first such project outside Metro Manila, and the people fromaround here can assure you that youve made the right choice. If there is any place where

you can replicate your success in such projects in Metro Manila, its here in Cebu. Theworkers you will find here are skillful, creative, light-hearted, while possessing anunshakeable pride in the quality of their work.

Since assuming office, we have made a point to make it easier for companies to set up shophere, or to expand, as you are doing today. We are making sure that we provide competitiveincentives to those investing in our priority sectors; and we are making sure that the keys tosuccess in our country are hard work and innovation, and not simply a willingness to connivewith crooks.

7/29/2019 Speech of President Aquino at the Mactan Newtown launch

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Projects like this are valuable checkpoints for usshowing that, indeed, we have madeprogress. We are extremely thankful to companies like Megaworldfor nourishing thePhilippines towards becoming the next Asian Tiger, by actually opening their checkbooks tomake serious bets on our country. Nothing says confidence like ten billion pesos ininvestments. Nothing says confidence like planning to complete up to fourteen buildings in

the span of less than three years.

Right now, it is election season again. So once in a while, you may see those opposed to ourreforms in the newspapers and on TV, asking: Is this economic growth truly being felt by ourpeople? Undertakings like this allow me to point out how strange those viewpoints arebecause these projects are helping to grow the economy in ways that can be felt by ordinarypeople. Once this is completed, many of the businesses that will be established here willcreate tens of thousands of jobs for the local community both direct and indirect.

For example, part of this complex will include a hotel, which will help us provide the rooms toreach our revised target for domestic and international tourists. Our revisions are a result ofsome very good news I received from our Tourism Secretary Mon Jimenez, which I am reallyexcited to share with you. In 2011, we recorded 37.5 million domestic travellers. Just to putthis number into perspective, this already surpassed our original 2016 target of 35.5 milliondomestic travellers. Given this very positive growth in domestic travel, Secretary Jimenez andthe DOT have raised the 2016 domestic tourism target to 56.1 million travellers. By then, weexpect that we will need more than 37,000 additional rooms in our destination clusters, whichincludes Cebu.

Suffice it to say: we fully intend on sending more guests to hotels in Cebuguests who willbe riding in your boats, buying your dried mangoes, and eating your famed Cebu lechon. So,

to Megaworld: If you have some extra space here after all your buildings are done, youcannot go wrong with building another hotel.

Across all sectors, our administration, in the coming weeks, months, and years, will continuegiving you reasons to invest in the Philippines and to stay in the Philippinesand so will theFilipino people, as they always have. We will maintain the business environment that has ledto investments like this. The world has recognized an upward trend in our countrysprospects. They are convinced that not only is it indeed more fun here; on top of the fun, thePhilippines also actually works: It works in terms of a talented, creative, loyal labor force; itworks because of an environment that allows entrepreneurs to thrive; and it works becauseof a newly revitalized society that has bought into a system where justice reigns, with

everyone pulling together to achieve the common goal of equitable prosperity. You now havea government that is committed to keeping it that way. I am hopeful that this complex can befinished ahead of schedulehopefully before July in 2016so that I can pay another visit tothis beautiful place during my term, and if that isnt possible, perhaps I can do so as a regulartourist and I can spend a lot more time here.

Again, congratulations to Megaworld, thank you. Good day.