DHAKA: The Philippines is no longer the ‘sick man of Asia’, as it is now a ‘viable destination for investments and tourists’, the country’s president Benigno Aquino said on Wednesday during a courtesy call by the chief executives of South-east Asia’s biggest companies.

‘No longer are we the ‘sick man of Asia’; we are now Asia’s bright spot - a viable destination for investments and tourists,’ he said as he received members of the Asean Business Club led by Ayala Corp CEO Jaime Augusto Zobel de Ayala and CIMB Group CEO Nazir Razak.

‘The Philippines has consistently bucked the global trend, with economic growth remaining high, and even surpassing our targets,’ said Aquino.

He also cited the investment-grade ratings that the Philippines has received from Mood’'s, Fitch Ratings and Standard & Poor’s as ‘proof positive… that we can reach greater heights’.

BDST: 1440 HRS, MAY 21, 2014