Presidentiables bare diverse views on attracting investors

CEBU, Philippines - The six presidential aspirants who participated in the recent Presidential Forum in Cebu said the government must focus on different factors to rake in more investments for the country from both the local and foreign investors.       

During the forum “Choices and Voices for 2010: An encounter with the Presidentiables,” which was organized by the Cebu Chamber of Commerce and Industry, Cebu Business Club and the Mandaue Chamber of Commerce and Industry, the six presidentiables stressed on different matters like security of incentives and the assurance of peace and order in the community.

CCCI President Sam Chioson asked the six gentlemen the question “what incentives for government private sectoral partnership will you develop for both foreign and local investors particularly enlarging the foreign direct investment for the country?”

Administration stalwart former Defense Secretary Gilberto “Gibo” Teodoro said that it is important to first review the incentives given to investors at the moment as it is important to focus first on the present scenario.

Teodoro said that the new Tourism Act of 2009, which was also recently approved, would be a big help since it includes all the incentives for tourism economic zones under the Tourism and Infrastructure Enterprise Zone Authority.

He also focused on the importance of taking advantage of the international trade agreements. “You have to engage markets like China and the Middle East services, these are future growth areas for Cebu because of services that they need.”

Also, Teodoro said that there is a need to enter bilateral trade agreements with the European union and the United States as well as making sure to give incentives to educational institutions adding that “people are the biggest asset here in Cebu.”

Teodoro said that incentives should also be given to Local Government Units since they play a crucial element in development and their direction must be supported by the national government.

Senator Manny Villar for his part said that it is essential to see first the needs of the investors since they have respective requisites before putting in investors in other countries. He said that it is evident that news on corruption in the country could pose as a threat to investors so it is important to stop corruption first.

Meanwhile, former Philippine President Joseph “Erap” Estrada said the government should put focus on the lack of peace and order as an impediment to attracting more investors since this could scare entrepreneurs to come to the country.

Senator Benigno “Noynoy” Aquino, Bro. Eddie Villanueva and Senator Richard Gordon emphasized on the need to provide the necessary infrastructure for the business investors and the actual implementation of the incentives that should already be given to them in accordance to the law.