MANILA – Business leaders on Wednesday approved a set of resolutions to help the government identify programs that will not only attract investors but also build stronger domestic supply chains, productive enterprises, and competitive workers.
The resolutions, approved by the Philippine Chamber of Commerce and Industry (PCCI) with data prepared by the Center for International Private Enterprise (CIPE), call for an integrated Economic Corridor and Enterprise Competitiveness Agenda.
Based on the resolutions presented during the second day of the two-day 52nd Philippine Business Conference and Expo (PBC&E) held at Manila Hotel, the goal should be focused on two dimensions –utilizing economic corridors and major investments as platforms for value-chain development, and improving strategic sectors to allow domestic business and those involved in the agriculture sector, among others, available of the various economic opportunities.
The resolutions underscored the importance of leveraging on the various projects of the government such as the Luzon Economic Corridor (LEC).
The PCCI said the projects must be implemented along with bid of ensuring “good governance anchored on accountability, transparency and integrity, so that public decisions, investments and programs are implemented fairly, resources are used responsibly, and progress can be monitored against clear commitments and results.”
LEC paves the way for opportunities like investments in various manufacturing and power projects in the New Clark City, it said.
The PCCI said the investment and technology-focused Pax Silica initiative, led by the US government, is “an important starting platform for demonstrating how infrastructure, investment, technology and connectivity can be developed as an integrated economic system.”
“They (the protest) do not, however, define the boundaries of the national agenda,” it added.
Business leaders also cited the need to also look into other sectors such as “agriculture and food, energy, semiconductors and advanced manufacturing, tourism, halal, logistics, e-commerce and digital services, each with distinct geographic, market and development characteristics.”
The resolutions said PCCI “recognizes that the same cross-cutting constraints, including high infrastructure and energy costs, logistics bottlenecks, regulatory complexity, limited access to finance and technology, skills gaps, standards and certification requirements, and weak supplier-development mechanisms, affect the ability of Philippine enterprises to participate in these opportunities.”
“The Philippines must therefore adopt a coordinated, whole-of-government and public-private approach that aligns infrastructure development, investment promotion, enterprise development, trade facilitation, energy security, digital transformation, agriculture modernization, and workforce development toward a common objective of increasing Philippine participation in domestic, regional, and global value chains,” it added. (Joann Santiago-Villanueva/PNA)
