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Investors cheer on 'The Punisher'

Tuesday, August 23, 2016 - 01:50

The Filipino president's bloody war on drugs may be turning heads but, as Ryan Brooks reports, Rodrigo Duterte's getting top marks from a business community that predicts an economic boom.

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The Filipino president's bloody war on drugs may be turning heads. But Rodrigo Duterte's getting top marks from business leaders hopeful his strongman style is setting the country up for an economic boom. It's got companies from fast food giant Jollibee to the country's biggest lender Unibank making plans to expand (SOUNDBITE) (English) REUTERS CORRESPONDENT, KAREN LEMA, SAYING: "I think president Duterte is really off to a good start because he is inheriting an economy which is in its best shape in three years. And his promise to accelerate and increase spending, as well as keep the fiscal house in order, is something that excite businessmen and boost investors confidence." Last week the Philippines' Q2 growth clocked in at a bright 7 percent from last year. Good news for those who had questioned if Duterte was fit to deal with market matters. After all, he won the election on his tough reputation as "The Punisher" earned during his time as mayor of Davao City. But a closer look at his track record there might surprise some. (SOUNDBITE) (English) REUTERS CORRESPONDEN, KAREN LEMA, SAYING: "Fixing peace and order has resulted in development of that city, it's now bustling. We saw that in 2010 to 2014 the region actually grew 6.6 percent on an annual basis which is faster than the average growth for the entire country for that period." Duterte's violent campaign against drugs has killed 1900 people in just seven weeks. That's according to an ongoing senate hearing. One senator has come out to condemn the campaign, saying it's had a "chilling" effect on the country. But companies seems confident Duterte's promise of law and order is good for business. Hoping he can turn that focus on the economy to keep it flying high.

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Investors cheer on 'The Punisher'

Tuesday, August 23, 2016 - 01:50