By Rachel O. Acosta
Contributor
Atty. Miguel B. Varela,
president of the Philippine Chamber of Commerce and Industry (PCCI), emphasized
that in 2014 the Philippines can benefit from the Asean integrated market by
building its competitive advantages provided that several constraints to growth
are lifted.
“Next year is a critical year to take decisive action if
companies are to satisfy a market of five billion strong consumers with
products and services,” Varela said. “We could lose out to our
competitors if we delay in removing the constraints that have been making us
just play catch up. Expanded trade has also an impact on the job-creating
capacity of the economy.”
The PCCI president said that government could clear the list of
constraints and enable the private sector to maximize the competitive
advantages by:
Ensuring the adequacy and cost-competitiveness of fuel and
electricity to power the growth of business and industries;
Rehabilitating, expanding and modernization airports and
seaports to accommodate the growing number of tourists and travellers and rising
volume of traded good domestically and internationally;
Constructing roads, rails and bridges with a priority given to
linking airports and seaports to cities and key destinations and farm-to-market
roads;
Streamlining business permits and licenses to facilitate the
entry of investments as well as encouraging micro and small industries to be
registered into the mainstream economy;
Improving customs administration and procedures to facilitate
trade while improving border controls;
Strengthening our capacity to participate in regional trading
activities including enhancing our international market intelligence and
networks;
Improving education standards and enhancing the current
curriculum based on market analysis and emerging trends, giving priority to
industry needs; and
Promoting competition to seize the benefits of expanding and
liberalizing trade and investment environment.
“Certainly, the rosy picture painted by our economic managers
could result to the transformation of the Philippine economy into a powerhouse
economy if the government, with the support and partnership of the private
sector, is able to address the constraints to growth.
He acknowledged the growth of 7.4 per cent in the first three
quarters in 2013 and believed that the momentum could keep going without the
constraints.
The next year, he said, would also be critical for government to
consider easing up on the foreign investment negative including such sectors
as public utilities and liberalizing the restrictive economic provisions
of our Constitution.
“Foreign companies have already strategically located themselves
within ASEAN for some years now,” he said. They do not need to
locate in the Philippines to be able to enter our market.
Free trade rules under ASEAN rules will allow foreign companies
located within Asean to sell at zero or at most 5% tariffs.
“ASEAN countries with open market strategies in their investment
policies will become internationally more competitive more quickly than those
that hold on to their restrictive outlooks,” he said.
Comments
Post a Comment