MAP URGES NORDCHAM:

Support Duterte’s 10-point economic agenda

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THE Management Association of the Philippines (MAP) urged the Nordic Chamber of Commerce of the Philippines (NordCham Philippines) on Thursday to support President Rodrigo Duterte’s 10-point socio-economic agenda to help the country grow faster.

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“I encourage the Nordic Chamber to support President Duterte’s 10-point socio-economic agenda. As far as the MAP is concerned, accelerating infrastructure spending, the lowering of income taxes, and ease of doing business are some of it,” MAP president Perry Pe said during the Nordic Ambassadors’ Luncheon held at Fairmont Hotel in Makati City on Thursday.

According to Pe, the MAP fully supports the administration’s economic agenda especially on infrastructure spending, which includes plans to build railway systems and develop the Ninoy Aquino International Airport (NAIA).

He explained to NordCham members why there ws a need to institute progressive tax reforms such as lowering income taxes, implementing a more effective tax collection and indexing taxes to inflation.

“It will help make the Philippines the next hub for business especially in Southeast Asia,” Pe said.

On improving competitiveness and ease of doing business in the country, he said government efforts will include drawing upon successful models used to attract businesses to localities and pursuing the relaxation of constitutional restrictions on foreign ownership, except as regards land ownership, in order to attract more foreign direct investments.

Another item on the agenda is to promote rural and value chain development toward increasing agricultural and rural enterprise productivity and rural tourism, he said.

Pe noted that the administration also seeks to improve social protection programs, including the government’s Conditional Cash Transfer program, “to protect the poor against instability and economic shocks.”

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