Launch of the Partnership for Growth: Philippines 2011-2016

During her visit to Manila on November 16, 2011, U.S. Secretary of State Hillary Rodham Clinton and Philippine Secretary of Foreign Affairs Albert del Rosario signed the Partnership for Growth (PFG) Statement of Principles, witnessed by President Benigno Aquino III at the Malacañang Palace. Attendees at the signing event included Ambassador Harry K. Thomas, Jr., U.S. Ambassador to the Asian Development Bank Robert K. Orr, and principal members of Post’s Partnership for Growth (PFG) team. From the Philippine Government, present at the signing event were Vice President Jejomar Binay, Secretary del Rosario, Philippine Ambassador to the U.S. Jose Cuisia, and members of Aquino’s Cabinet Economic Cluster.
 
In her remarks at the signing, Secretary Clinton emphasized the importance of the PFG in the context of the U.S. Government’s 60-year alliance with the Philippine Government.  She highlighted the role of the PFG in helping the Philippines achieve its high growth potential by creating a more transparent, predictable, and consistent legal and regulatory regime; fostering a more open and competitive business environment; strengthening the rule of law; and supporting fiscal stability. Secretary del Rosario expressed the commitment of the Philippine Government to key policy and institutional changes, in order to achieve a sustained and high level of inclusive growth. Intended to mobilize the resources of both governments to address the most serious constraints to economic growth and development in the Philippines, the PFG provides a new framework for deepening and strengthening U.S. Government engagement with the Philippine Government. This enhanced bilateral engagement involves 15 U.S. Government agencies working with their Philippine counterparts to achieve the PFG objectives. The Philippines is one of only four countries chosen to participate in the PFG.

 
More:  U.S.-Philippines Partnership for Growth Fact Sheet

Source: http://philippines.usaid.gov/newsroom/launch-partnership-growth-philippines-2011-2016