The Philippine Chamber of Commerce and Industry, the country’s largest business organization held its 41st Business Conference on October 26-27 at the Marriot Hotel in Pasay City. The Philippine Business Conference (PBC) is an annual gathering and dialogue of policy makers in the executive and legislative branches of government and of decision makers in Philippine business.
Resolutions made will then be submitted to the President, which include reform legislation, policies for price competitiveness and power supply, climate resiliency, international trade, educational programs, e-commerce, development of capital markets, policy direction for small and medium enterprise and comprehensive tax reform program.
According to PCCI president Alfedo M. Yao, the conference focuses on how the government and business intensify their strategic synergies and alliances that would build and strengthen competitiveness in an integrated global market place.
President Aquino in his speech Tuesday, tried to convince the country’s leading businessmen to help support and continue his government program “Daang Matuwid 2”.
The President enumerated how his administration boosted the country’s economy.
- The Philippines received 22 positive credit rating actions that boosted the country’s image and investors’ confidence.
- He took pride on infrastructure. He said that literal transformation has taken place around the country and infrastructure budget has more than tripled.
- GDP has grown an average rate of 6.2% in the last 5 years.
- Under his administration the country has regained respect in the international community.
- The World Economic Forum’s Competitiveness report has bumped the country 38 places since 2010 from 85th to 47th.
- The World Bank’s Ease of Doing Business Report raised the Philippines from 144th to 95th.
- His administration recorded the lowest unemployment rate in a decade.
- Massively increased focus and spending on social services.
- Vastly expanded conditional cash transfer program.
- Reforms have taken place on every level of education.
He also said that there is nothing impossible to a united Philippine nation.
The gathering highlighted success stories and global and regional trends on business competitiveness including strategies for business and economic growth, developing a world class infrastructure and advancing international trade partnerships.
Source: ABS-CBN News