MANILA, Philippines - The Aquino administration will need to address the lack of infrastructure, high costs of power and logistics and improve education in the next two years if it wants to attract more investments in the country, the Philippine Chamber of Commerce and Industry (PCCI) said.
In a press conference yesterday, PCCI honorary chairman Donald Dee said the business group would want President Aquino to focus on infrastructure, power, logistics and education in the last years of his term to attract more investments here.
In terms of infrastructure, he cited that there is a need for instance to set a time table for the implementation of the North and South Luzon Expressways connector road.
The high cost of power here likewise needs to be addressed as it is often cited as a concern by investors.
As for logistics, Dee noted that while Aquino has issued Executive Order 172 declaring the Subic and Batangas ports as extensions of Manila’s ports earlier this month, there is a need to take a further step of specifying a maximum load allowed at the ports and a time frame for implementation to address congestion.
Education will also be important to ensure the graduates have the skills needed to be employed.
“You see the whole idea here is we want investments to go up. Investors do not come in unless they are assured there’s power, they are assured that logistics would go down, and they are assured that we have skilled labor. These are three things that are critical, and that’s why to answer the question these are the things we want to happen in the next two years. Implement plans,” Dee said.
While all the problems may not be fixed in the next two years, he said what is important is for government to start making a move.
“It will not be finished but at least it will be implemented and we can see it being implemented so investments will come in,” he added.
PCCI president Aflredo Yao said in the same event the business group is set to submit a set of resolutions to Aquino next month as part of its annual Philippine Business Conference to be held on Oct. 22 to 24.
The resolutions are based on recommendations given by the group’s members all over the country.
“These resolutions speak the real sentiments of the Philippine business community. It is a serious and important process that we undertake to offer solutions to key problems of the country such as the high cost of power and energy and logistics, the effects of climate change on business and environment, employment mismatch and improving education standards, reviving our industries and improving their competitiveness, lowering the cost of doing business, diversifying exports and ease of trade facilitation system, promoting competition, seizing the benefits of international trade and liberalization, and supporting the growth of MSMEs (micro, small and medium enterprises), among others,” he said.
Apart from submission of resolutions to the President, the PCCI also aims to promote the competitiveness of local industries as a way to achieve the country’s sustained growth during the event.
The PCCI, the country’s biggest business organization, has a nationwide network of 110 chapters, 137 industry sectors, 37 business councils and 1,500 direct corporate members.