Business group asks government to name investment czar

MANILA, Philippines - A business group is asking the government to appoint an investment czar who would help and attend to the needs of investors.

In a press conference, Philippine Chamber of Commerce and Industry (PCCI) president Francis Chua said that the government must appoint an investment czar, preferably someone from his Cabinet, who will attend to the needs of investors.

“I’ve heard of investors who have already decided to invest here but because of the massive red tape and the hassle of getting the necessary licenses and permits, opted to transfer their business elsewhere,” Chua said.

Chua said that this czar would help the investors and his office can be tasked to obtain the permits and licenses for the firms. “Of course this added service will cost extra but businessmen do not mind paying for good service.”

Chua said this investment czar could even be the Trade Secretary. “It could be anybody who can assure investors that it is easy to invest in the Philippines.” Chua said he is set to meet with Trade Secretary Gregory Domingo.

Likewise, he noted that this will be a good way of attracting private investors for the upcoming infrastructure projects that the government will identify. “I have already asked Secretary (Cesar) Purisima for the list of projects.”

He said PCCI members are willing to bankroll infrastructure projects especially since it will help the country. Chua said the list of infrastructure projects will be given to PCCI next month.

Earlier, Purisima said the government is now making an inventory of big-ticket infrastructure projects that may fall under the planned public-private sector partnership. According to the National Economic and Development Authority (NEDA), one possible infrastructure project is the extension of the Light Rail Transit (LRT) Line 1 to Masinag in Antipolo from Santolan along Marcos Highway.