Duterte’s 'action-oriented' style seen to boost business


Posted at Jul 26 2016 09:42 AM

MANILA - President Rodrigo Duterte's affirmation of his "action-oriented" leadership style during his first State of the Nation Address will likely boost investor confidence in the Philippines, an international fund manager said Tuesday.

Duterte pledged to drive economic growth higher, lower personal and corporate income tax rates, solve crippling traffic jams through "emergency powers" and relax bank secrecy rules in his first policy speech to Congress on Monday.

"He wants to get things done. He's action oriented and the market likes that kind of thinking," said Matthew Sutherland, head of product management for Asia at Fidelity International.

"We believe the economic growth should continue under the current one," Sutherland told ANC's "Market Edge with Cathy Yang."

Sutherland said Duterte could start with reforms that bring "tangible" benefits, such as untangling traffic in Metro Manila, which results in daily losses of P2.4 billion to the economy.