THE PHILIPPINES

Envoy Supports Economic Reforms: The new U.S. envoy to Manila gave a cautious endorsement of foreign investment in the Philippines, saying prosperity hinges on economic reforms pledged by the Ramos Administration. “The preconditions for an economic takeoff are either in place or in design,” Ambassador Richard Solomon said. “For the Philippines government, economic reforms are the order of the day,” said Solomon, who became ambassador a month ago. Noting that the Pacific region is moving away from geopolitics toward an “era of geo-economics,” he said the United States, which is reducing its foreign aid, will strive to increase the performance of the Philippine economy rather than bankroll major projects. U.S. firms welcome President Fidel Ramos’ pro-business policies and his promotion of public security through national reconciliation, dialogue and rule of law, Solomon said.