Home News PH Infrastructure Ranks Poor, Slows Down Economic Development – ECCP

PH Infrastructure Ranks Poor, Slows Down Economic Development – ECCP

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The European Chamber of Commerce of the Philippines (ECCP), the country’s largest European business group, believes that in order for the Philippines to be globally competitive, there should be new measures to better the local infrastructure framework.

The country’s ranking in terms of infrastructure has remained poor. This was according to the recent World Economic Forum Global Competitiveness Index. The report noted particularly airport and seaport infrastructure.

In a forum on Tuesday, ECCP President Guenter Taus said that they support the development of better infrastructure for the Philippines and firmly believes that having good infrastructure leads to increased competitiveness.

The ECCP urged the government and the private sector to adopt new and innovative infrastructure technologies and methodologies as this would not only speed up its development but would also attract local and foreign investments.

Taus further said that Philippine infrastructure continues to lag behind globally despite the government’s ways to fast track its development over the last five years.

“The current state of infrastructure of the country is actually dragging down the competitiveness of the Philippines. There is plenty of room for improvement and a multitude of innovative solutions available to make positive changes happen,” Taus said

He further explained that ECCP is calling for innovation and promoting innovation in infrastructure to ensure that infrastructure development keeps pace with the country’s rapid economic development, rising population, fast urbanization and the growing challenges related to climate change.

He said that ECCP and its partner companies and organizations would work with the government to create a policy and regulatory environment that will allow innovation to be promoted, adopted and mainstreamed in the process of building up the country’s future infrastructure.

The goal he said is to enable innovation to make positive changes happen and for changes to happen fast. “ECCP is excited to see the infrastructure sector moving fast forward as we expect this to lead to the creation of a more conducive environment for investments and vibrant economy leading to inclusive as well as sustainable growth.”

SourcePhilippine Star

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