NEWSFLASH

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RP BUSINESS GROUPS SUPPORT 
ERAP-ANGARA BIZ PROPOSAL

Manila, April 9, 1998 - The Philippine Chamber of Commerce and Industry (PCCI), the Federation of Filipino-Chinese Chambers of Commerce and Industry (FCCI) and the Philippine Stock Exchange (PSE) pledged to support and participate in a series of economic consultations aimed at achieving economic recovery being proposed by leading presidential bet Vice President Joseph Estrada and his running mate Senator Edgardo Angara, Jr.

The business group stressed the need for private sector participation to alleviate the current economic slowdown. The group stated that it is necessary to consult with the country's "future leaders" in order to achieve their objective of "helping formulate an economic agenda which would benefit all".

They also praised the economic blue-print and the detailed tactical economic plan prepared by the Estrada-Angara tandem. The economic plan is said to have its aim in creating an environment conducive to the growth of the business sector and the national economy as a whole.

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