THE Philippines will showcase the Duterte administration’s 10-point socioeconomic agenda during the Asia-Pacific Economic Cooperation summit in Lima, Peru this week.
President Rodrigo Duterte left for Peru for his first APEC leaders’ summit on Thursday afternoon, stopping over in New Zealand first before proceeding to the South American nation.
In his departure statement delivered in his hometown Davao City, Duterte announced that he would be meeting with 20 world leaders and take stock of efforts to boost economic growth and prosperity in the Pacific rim.
“In the meetings, I will bring to the fore key components of my 10-point Socio-Economic Program, particularly improvements in doing business through more efficient and responsive governance, massive investments in new infrastructure, a new focus on rural development, and increased investments in human capital,” he said.
The Duterte administration’s 10-point program calls for continued macroeconomic policies; progressive tax reform and more effective tax collection; increased competitiveness and ease of doing business; accelerated infrastructure spending to account for 5 percent of gross domestic product (GDP), with public-private partnerships playing a key role;
Promotion of rural and value chain development toward increasing agricultural and rural enterprise productivity and rural tourism; security of land tenure to encourage investments and address bottlenecks in land management and titling agencies; investments in human capital development, including health and education systems, to match skills and training; promotion of science, technology and the creative arts to enhance innovation and creative capacity; and improvement of social protection programs including the government’s conditional cash transfer program and implementation of the Responsible Parenthood and Reproductive Health Law.
The theme of this year’s APEC Economic Leaders’ Summit is “Quality Growth and Human Capital Development: A Foundation for Sustainable Growth in the Asia-Pacific.”
“My message to APEC will be clear: The Philippines is open for business. We will do everything to make sure that business, particularly our MSMEs (micro, small and medium enterprises), will thrive and flourish … I will highlight government policy support as well as efforts to address corruption and criminality as building blocks of a strong and resilient economy aimed at inclusive and continued growth,” Duterte said.
“As we look to expand our horizons and pursue an independent foreign policy, the Philippines and the Filipino businesses must be ready to further deepen and broaden our engagement with South America—especially those that straddle the Pacific—as economic partners,” he added.
Duterte left the country on the same day the government announced that Philippine GDP grew by 7.1 percent—the fastest pace since the second quarter of 2013.