• Oldest biz group introduces 5 pillars for PH economy

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    The country’s oldest business organization, Chamber of Commerce of the Philippine Islands, has launched “History Builds Future 2030—Five Pillars” which aims to regain the country’s top economic position in the Asean region by 2030.

    In the 130th anniversary of the Chamber this year, its President Jose Luis Yulo Jr. said the five pillars can boost economic activities and spur inclusive growth in the country for the next decades.

    Yulo said the Philippines can leapfrog its Asean neighbors if these five pillars will be implemented and can reposition itself in the top spot in the region in terms of economy.

    He recalled that in terms of gross domestic product (GDP) per capita, both in nominal and purchasing power parity, the Philippines was above among other Asean countries in 1960s.

    But in 1970s, the country was behind Singapore and Malaysia, and in 2016, the Philippines is at rank five—even behind Thailand and Indonesia.

    The Chamber’s five pillars:

    1.) Filipino and Education
    The Chamber eyes every Filipino to have access to best education in academics, technology, engineering, universal moral values, good manners and right conduct, implicative thinking, and be tri-lingual.

    It aims to make the Filipino among the best in the world in at least one profession, or skill, or talent.

    The business group is also supporting the K-to-12 basic education program introduced by the Aquino administration.

    2.) Philippine Government
    Yulo hopes that the incoming president Rodrigo Duterte will push for better governance, honor the rule of law, sanctity of contracts and better judiciary system.

    The second pillar also noted that the government should only allow mining of natural resources to companies that will set up in the country manufacturing of finished products that use the said natural resources.

    Government agencies should also be efficient, professional, with integrity of delivery and implementation of services, top quality, and transparent.

    3.) Infrastructure and Environment
    Yulo said the country’s infrastructure must be comparable with the best in the world which are also resilient to calamities.

    He added that “God-given attractions” must be preserved and properly maintained and development for tourism and other uses shall be controlled base on capacity limits.

    4.) Philippine Businesses
    The country should also have strong local firms which can both compete in local and foreign markets.

    Philippine-owned businesses should also be dominant in market share and revenues.

    5.) Philippine Economy
    The Philippine economy is eyed to be diverse which is self-sufficient in food and with value-added in agribusiness, manufacturing, and services and among the world’s top 50 percent in terms of GDP per capita.

    PNA

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