MANILA -- President Rodrigo Duterte has affirmed pressing problems hounding the country as well as the possible solutions cited by the Philippine Chamber of Commerce and Industry (PCCI) during the opening day of the 44th Philippine Business Conference at the Manila Hotel on October 19.
Business tycoon Ramon Ang, event chairman, presented the list of proposed resolutions citing problems faced by the Philippines today and corresponding solutions which the business sector can help realize.
In these resolutions, the chamber underscored various factors that have contributed to economic slump like the continuous weakening of peso, the gap between import and export, and slower growth on business process outsourcing (BPO) revenues and overseas Filipino worker (OFW) remittances, among others.
Ang said in order to help address the trade deficit, the country should import less luxury goods which are unnecessary. Instead, it should strengthen its export sector.
“We urged the government to rethink any moves that will make our exporters less competitive,” he said, adding that for the BPO sector “we should start developing higher value services to offset the impact of artificial intelligence on our traditional services.”
On inflation rate, the PCCI attributed it to high oil prices which surged to 80 dollars per barrel from 50 dollars per barrel resulting in higher prices of goods.
Lauding the government’s move to suspend the next round of fuel taxes in 2019, the business organization believes that additional consumption taxes plus higher cost of goods can reduce the benefit of lower income tax rates.
Though they recognized the effort of the government to address the rice shortage which is relative to inflation, businessmen in the country asserted the need for more support to farmers like provision of high-yielding planting materials, fertilizers and loan.
This will address the annual shortfall of 1.5 million tons thereby enabling farmers to increase their profit, Ang said.
In terms of infrastructure, the government needs to have “transport solutions” to arrest billions of losses and higher cost of doing business in the country, he added.
Among the proposed solutions of PCCI are the construction of elevated highways and mass transit systems, and development of airports and seaports.
“We must build a new international airport with four parallel runways within our major cities and connect them with major railway and mass transit system,” he said, stressing that “we also need to build a major seaport outside metro manila.”
Ang further said that “these are the problems we are facing today, PCCI will help government solve them and ease the burden of our countrymen.”
In response, Duterte echoed what Ang said before the participants of the conference.
“With the global chaos, we find ourselves today still grappling for solutions,” he stressed.
Duterte, who was joined by two former presidents, Fidel Ramos and Joseph Estrada, along with Trade and Industry Secretary Ramon Lopez, told businessmen that he will immediately bring their concerns during the next Cabinet meeting.
Aside from responding to concerns of the business sector, the President also highlighted in his speech the government’s continuous campaign against corruption and illegal drugs.
Meanwhile, the Metro Bacolod Chamber of Commerce and Industry (MBCCI), one of the local chambers participating in the conference, has expressed optimism that development will spread across the countryside once the proposed solutions of PCCI will be implemented.
Roberto Montelibano, president of MBCCI, said they have yet to inquire whether the development of the Bacolod–Silay Airport is included in the Build, Build, Build program of the government as well as in the proposed resolution of PCCI.
Montelibano said there is a need to remind Negrense congressmen to push for the expansion of the airport’s runway to cater to bigger aircraft. It only needs to extend its runway by additional 500-meter.
“We are happy that the President recognizes these needs and possible solutions,” he said, adding that “it is now up to us to keep on pushing the government for its implementation.”
Citing the increasing traffic between Negros, Cebu and Iloilo, the MBCCI president affirmed the need to encourage more transport systems particularly for roll-on, roll-off (roro).
“This is one of the reasons why we are asking for the quick delineation of Barangay Banago in Bacolod City so that it can be further developed by the Philippine Ports Authority,” Montelibano added.
For his part, MBCCI chief executive officer Frank Carbon said the development of airports even in Luzon is seen to positively impact the regions and provinces including Negros Occidental especially in terms of tourism.
Carbon pointed out that better airports will open more opportunities for tourists to visit provinces.
“Airport and seaport development will also result to reduction of cost and wastage. Meaning, goods from the province will become more viable among markets in Manila,” he added.
Themed “Technology and Digital Economy: The Game Changer,” the two-day business conference will run until today.
During the chamber management meeting on Wednesday, former governor Rafael Coscolluela, now the provincial consultant on investment promotions, export and trade development, presented the importance of active participation of business chamber in the province on local governance.
Provincial Planning and Development Officer Ma. Lina Sanogal will also present today various investment potentials of Negros Occidental including those in the agriculture and tourism sectors.