BUSINESS TALK
GUEST COLUMNIST
By WILLIAM S. CO, chairman, Philippine Chamber of Commerce and Industry
The Philippines is indeed ready and open for business. This was evident at the recently concluded 48th Philippine Business Conference & Expo where over a thousand local and international delegates flocked to the historic Manila Hotel for what has been the biggest ever face-to-face conference after two years of global lockdowns due to Covid-19. Hopes were high and renewed optimism ignited in the four corners of the hall as delegates paid attention to the plans and programs presented by the government and the private sector on how the country can strengthen its economic gains and make a difference to the Filipino people.
We had been honored with the presence of President Ferdinand Marcos, Jr., and Vice President Sara Duterte who led the opening and concluding ceremonies of the two-day conference while cabinet officials of key government agencies took turns in presenting the government’s agenda to the private sector.
In his remarks, the President recognized the important role of the business community in steering the country’s direction toward economic progress. He made a commitment to improve the business climate and elevate the status of the Philippines as a top investment destination. He also assured the private sector that his government will continue to work to harmonize all efforts of all investment promotion agencies, government agencies, and local government units to create synergies.
President Marcos outlined some of the priority initiatives his government is working on, among others, enhancing the digital infrastructure to streamline application processes of business permits, licenses, and other documentary requirements; developing the energy sector to ensure adequate power supply and alleviate rising electricity cost by revising the Renewable Energy Law’s Implementing Rules and Regulations to secure energy supply in the country and attract foreign investments for renewable energy development. He also mentioned focusing on strong PPP in key projects. As of August this year, there are already a total of 74 PPP projects in the pipeline, with a combined estimated cost of ₱2.25 trillion.
Duterte, on the other hand, lauded the business community for its “courage and commitment to bring about growth and development across the country — and benefit all sectors, especially the underprivileged and those lacking economic opportunities, access to livelihood, and employment.”
As the concurrent secretary of the Department of Education, she presented the programs of the agency which are laid out under the Basic Education Development Plan, a long-term vision to improve the country’s educational system. Immediately upon her assumption as DepEd Secretary, the vice president took the bold step and announced the opening of schools in-person learning in November despite apprehension by some sectors. Reportedly, there are about 28 million children returning to school after not being able to attend classes due to school closures during the pandemic.
The government is also looking into and reviewing the K-12 program to ensure that graduates are able to secure jobs in various industries after finishing high school and improve our schools performance in the international educational assessment. Furthermore, the Office of the Vice President has signed the First Time Jobseekers Assistance Act – Joint Operational Guidelines with the Department of Labor and Employment for the implementation of RA 11261, or the First Time Jobseekers Assistance Act. This law is expected to benefit more first-time jobseekers, especially our K-12 graduates, and have the opportunity to process their pre-employment requirements immediately and cost-free.
(Dr. William S. Co is chairman of the Philippine Chamber of Commerce and Industry (PCCI) and director of the Agriculture and Fishery committee)