"We are glad that the electoral process is over and most of the winners proclaimed. On this occasion of the centennial of the Philippine Congress, we affirm the unity and forward course of our nation," Mrs. Arroyo said in her speech during the centennial anniversary celebration of the House of Representatives in Quezon City yesterday.

Mrs. Arroyo appealed to the various political factions in the country to accept the results of the elections and resume working together for the improvement of the economy.

"The campaign has had its contentious moments. But let us be magnanimous, win or lose. The interest of the people dictates that we must close all chapters of strife and recrimination," Mrs. Arroyo said.

"We close the chapter of electoral battles and open the chapter of national consolidation and solidarity. We call upon the nation to close the contest of the ballot and step up the contest of excellence in all fields, all for one and one for all."

Mrs. Arroyo said she remains confident that Congress would continue to support her government’s fiscal and tax reform programs, despite the impending control by the opposition of the Senate with the dominance of Genuine Opposition senatorial candidates in the May 14, 2007 elections.

Mrs. Arroyo said the administration coalition’s overwhelming victory in the House of Representatives and among local government posts demonstrates the continuing "mandate of reform, unity, more work and less politics."

"We look forward to the continuing support of Congress as we thank you for your prayers for our safe journey. It is good to be home and among allies resolved work together to lift everyone up and make sure no one is left behind. Our work must be a national enterprise where no one loses and everybody wins," she said.

Mrs. Arroyo said working together after the elections is needed to sustain the country’s economic growth which, she said, had continually increased in the past 26 quarters, with economic growth registering a record 6.9 percent during the first quarter of 2007. (David Cagahastian)

GMA vows easier entry into country for Chinese investors

By FIL C. SIONIL

CHONGQING, China (Via PLDT) -- President Arroyo has invited businessmen here to take advantage of the vast array of investment opportunities in the Philippines even as she announced that a major manufacturing firm here has signified interest to explore mining ventures in the country.

"The Philippines offers one of the best values in Asia for Chinese investors. It is a competitive location for all companies looking to establish or expand their operations in Asia-Pacific region," Mrs. Arroyo told a Business Forum here during her two-day visit to Sichuan province.

She said that Zongshen Industrial, one of the biggest manufacturing firm here, already has extensive interests in the Philippines and is eyeing expanding into nickel mining to support its manufacture of motorbikes and spare parts.

After her meeting with Zongshen Industrial Group chairman Zou Zongshen, the President said, "We are glad to learn that they are now investing in nickel mining and speedboat manufacturing in the Philippines."

Wellex Group chairman and president William T. Gatchalian, a member of the Philippine business delegation accompanying the President, said his company may enter into a venture with the Zongshen group.

"It will be a joint venture undertaking," Gatchalian said.

Mrs. Arroyo promised to make it easier for foreign investors to establish operations in the country.

"We are cutting red tape to simplify the requirements for investing in the Philippines," the President said.

She added that her government is implementing measures for "improving the quality of human resources, lowering transaction inflows and costs of doing business, developing efficient access to financing, and a seamless infrastructure work."

The President also cited the country’s strategic location which can serve as a transshipment point both for raw materials and intermediate inputs.

The strategic location is complemented by "highly skilled labor well-versed in international logistics, existing economic zones, ready supply of raw materials and intermediate products, especially semiconductors," she said.

Mrs. Arroyo also marketed the Philippines as a haven for tourists.

"We hope tourists from Chongqing will also visit the Philippines. We are a nation composed of many islands with beautiful white sand beaches, something which Chongqing does not have, because it is landlocked," she said.

While Mrs. Arroyo admitted RP has yet to "approximate" Chongqing’s 10.2 percent annual growth rate, she said her economic team working hard to bring the gross domestic product (GDP) to a higher plane.

"Our government has taken the difficult decisions to raise the additional revenues needed to invest in infrastructure and services to create an economic environment conducive to investments," Mrs. Arroyo said, citing economic reforms undertaken by government.

She said Filipino businessmen are reaping the fruits of the fiscal consolidation by way of low cost of borrowings as reflected by the average yield of the bellweather 91day Treasury Bills which have been below four percentage point, the lowest in the recent past.

Another positive effect of the fiscal consolidation is the strengthening of the peso versus the US dollar, the inflation rate of 2.9 percent last April, she said.

Shortly after her arrival here late Wednesday afternoon, the President went straight to work, promoting the country as an alternative business location.

She met with the Party Secretariat of Chongqing Committee head Wang Yang, Chongqing Mayor Wang Hongju and Vice Mayor Wu Jianong.

Her visit aimed to boost trade among Filipino businessmen accompanying the President and Chinese companies in Chengdu and Chongqing in Sichuan province.