The Philippine Chamber of Commerce and Industry (PCCI) forecasts
increased volume of foreign direct investments by US high-technology
manufacturers due to the delisting of the Philippines from the Special 301
Watch List of the US Special Trade Representative.
“Many
US manufacturers of high-technology products would be encouraged to locate here
because of USTR findings that Philippine laws provide adequate protection of
intellectual property rights,” said Alfredo M. Yao, president of the country’s
biggest business organization. “The delisting would signal effective
enforcement against counterfeiting, piracy and other IPR violations.”
Mr.
Yao listed examples of high-technology companies such as those engaged in
pharmaceuticals, food manufacturing, software and information technology,
chemicals and cosmetics and personal care products, machinery and equipment,
automotive components, electronics, and research and development.
The
USTR announced last month the deletion of the Philippines from the Special
Watch List.
Mr.
Yao lauded the successful efforts of the Philippine government for the
deletion.
Mr.
Yao added that weak protection of IPR deterred foreign direct investors from
deciding to locate here.
Some
technology-intensive companies merely showed their presence here through
licensing or distribution agreements, he said.
According
to Mr. Yao, strong IPR laws and their enforcement assure foreign direct
investors of control of their production processes due to the high costs spent
on development and innovation.
Weak
IPR laws are considered by them as a competitive location disadvantage because
they are exposed to piracy or imitations. They also face breach of
contracts by their local partners who could later become their competitors.
The
more technology-intensive companies that the manufacture here, the more
world-class products would be stamped as “Proudly Made in the Philippines”, he
said.
“With
increased volumes of foreign direct investments, the potential benefits include
more choices for consumers, more reasonable prices, more government revenues,
and more job opportunities,” Mr. Yao pointed out.
To
strengthen awareness and appreciation of IPR and its importance to business and
ensure the sustainability of IPR protection, PCCI and the Intellectual Property
Office are organizing and will launch the Brand Development and IP Protection
Council of the Philippines (BDIPCP) during the 1st Brand Development and IP
Protection Summit on May 22. Through the Council, PCCI and IPO hopes to centralize
all actions on IP protection and brand development.
The
summit further aims to provide a ground for domestic and international brand
owners to learn about the latest brand development strategies, to address the
need to ensure IP protection and cooperative effort to combat counterfeiting
and piracy. (PCCI)
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