Today is the schedule of the Philippine President (Benigno S. Aquino III) fourth State of the Nation Address (SONA) wherein he will discuss and enumerate some of his biggest funded projects created during the last twelve month of service to the Filipino people. Dubbed as the "DAANG MATUWID" (straight road) republic, he will showcase his current achievements which he coined from this phrase. The recent economic data will be lined up for the public information. Any advancement of this datum will create some noise in the Philippine Stock Exchange Index as investors were also keen to the coming message of the president this afternoon about new laws that will enhance economic progress in the coming months.
Most traders are awaiting about the development of the laws regarding mining sector. Most of the country's mining companies are presently suffering downgrade in investors perception. Another sector that the local and overseas investors are eyeing of today's SONA will be the news about Tourism & Entertainment. The investments that will benefit from this sector will be Hotels, Resorts, Casinos & most tourist destinations in the country. Maybe some institutional funds are awaiting the key signal of the president before they will pour more of their billion-dollar investment in the country on this mentioned sectors.
The recent turmoil that aroused credibility of the Philippine Government Officials is about the billions of pesos corruption scam of the MRT3 project of the Department of Transportation & Communication. This may give bad moves from investors who had already relied the good governance of the recent administration. As also an investor, well I am so prepared what the consequences will be.
More about this recent scam is found in this link:
‘Daang matuwid’ faces serious test
Sona IV comes on heels of P10B pork scam
Read more: http://newsinfo.inquirer.net/449425/corruption-scandals-loom-large-in-aquinos-sona#ixzz2ZnWOufT2
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