Of course, creating value added is not limited to the economic problem, but also includes more comprehensive concepts such as cultural and political activities. Here, I would like to focus my remarks mostly on value added related to the economic problem. As a country becomes richer and the people's standard of living improves, labor costs tend to rise.
I also wish to take this opportunity to express my deep appreciation for the support and cooperation the leaders and members of your organizations have been extending to the BSP and me. You actively engage us in dialogues, meetings, and conferences to share your insights in the formulation and the implementation of our policies and programs.