MANILA — The Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) has welcomed the achievements of the Duterte administration and pushes for strengthening the collaboration between public and private sectors.
ABAC, the voice of businesses in APEC, said it has noted the government’s planned and ongoing projects to address the country’s perennial transport and logistics problems.
The business organization pushes for BBB – Broader stakeholder engagement, Bolder reform measures, and Better public-private sector coordination – that will reinforce the Build, Build, Build program of the Duterte administration and will also promote sustainable, innovative, and inclusive growth.
ABAC also welcomed the openness of the government to more players especially in the telecommunications industry that will improve digital infrastructure and boost competition in the sector.
It also commended the Philippine Competition Commission (PCC) in ensuring competition stays in the market.
Moreover, ABAC has acknowledged the passage of the Tax Reform for Acceleration and Inclusion (TRAIN) measure and the 2018 General Appropriations Act (GAA).
“These plans and programs have undergone much review and deliberation. The next step is for all of us to pull together and support the government in ensuring that the laws translate to the promise of being a budget that reforms and transforms, and a tax reform for acceleration and inclusion,” ABAC Philippines member and tycoon Lance Gokongwei said.
ABAC noted that these developments in the country is in line with APEC’s focus in working on competition policy, regulatory reform, economic and legal infrastructure, corporate and public governance, and human capital development.
But it mentioned that the government should hasten its work on easing doing business in the country.
“Aside from the infrastructure push and tax reform, the government is making it easy establishing business and investing in the country. Ease of doing business reform is on its way with a legislation already passed and near enactment by Congress,” ABAC noted.
ABAC Philippines Chairman Tomas Alcantara stressed the need for active participation of the private sector in the reform agenda of the government that will generate more jobs and promote entrepreneurial opportunities for Filipinos.
“Businesses especially SMEs must take advantage of the digital technology and innovation in order for them to be better connected and integrated with the global economy,” said Alcantara.
Earlier, ABAC committed to work with the government in addressing non-tariff measures, facilitate labor mobility, enhance micro, smal, and medium enterprises (MSMEs) participation in the global economy, and expand MSME financing through work programs.