Shipping heiress Doris Magsaysay-Ho stresses a point as Asian Institute of Management founder Washington SyCip (left) and businessman Manuel V. Pangilinan listen during the AIM for Change business conference in Makati yesterday. Shipping heiress Doris Magsaysay-Ho stresses a point as Asian Institute of Management founder Washington SyCip (left) and businessman Manuel V. Pangilinan listen during the AIM for Change business conference in Makati yesterday. DANESSA RIVERA

Business leaders vow to focus on Duterte’s ‘inclusive growth’

WITH the Philippines’s continuing economic growth during the last six years, the country’s business leaders believe it is time to focus on inclusive growth under the new administration.

“Inclusive growth will have a true meaning for the country in a sense that not only the economic growth of 6.5 percent or 7 percent will continue, but how we address the 25 percent of the population still living below poverty line,” Asian Institute of Management (AIM) President Dr. Jikyeong Kang said during the AIM for Change discussion at Fairmont Hotel Makati on Wednesday last week.


The discussion focused on ways by which the business sector and the incoming administration could work together to raise the standard of living for all people, as well as building upon the earlier successes of the Aquino government.

Fresh from a two-day convening of the business sector in Davao, Doris Magsaysay-Ho, CEO of the Magsaysay Maritime Corp., touched upon the 10-point socioeconomic agenda presented by the incoming Duterte administration.

“I think basically their response to the 10-point action plan is good. It focused on job generation in agriculture and manufacturing and other job-generating issues,” Ho said. “We hope that he puts more services in it.”

The agenda presented a list of the incoming administration’s aims regarding several issues such as progressive tax reform, foreign investment, agricultural and rural development, infrastructure and education.

Another business leader present at the discussion was optimistic about the role business would play in fulfilling the goals of the 10-point agenda.

“I think the business sector, as a whole, based on the views of the panel, would definitely work with the new administration and within the framework defined by the 10 economic points,” said Manuel V. Pangilinan, chairman of PLDT Inc. and Philex Mining Corp.

The business leaders talked about certain industries they felt should be given priority, such as agriculture, education and tourism. Ho emphasized that, no matter which industry, a key factor to growth would always be a clear strategic intent that would bring about concrete unified effort.

Ho said decentralization is key to inclusive growth. Manila has always been the central business hub of the Philippines, leaving “a lot of people in the regions [feeling] excluded” from the enjoyment of economic opportunities and a better quality of life.

“Businesses would not go to rural areas if there is no profit,” Pangilinan said. To coax businesses out of the nation’s capital, both Ho and Pangilinan encouraged the building of production hubs and ports in key areas outside Manila.

The business leaders also expressed their opinion on the incoming administration’s proposal of a federal government.

There were some worries regarding the time it would take to accomplish such a change, Pangilinan said, plus the complex system of new leaders that would be needed.

Magsaysay-Ho said it was not solely the type of government that determined success.

“Whatever form of government we are in, if we have intent, we can make it happen,” she said.

The business leaders, however, were open to giving federalism a chance.

“One cannot help but be optimistic about what’s going on at present. The federal system could be an improvement over the present situation,” business tycoon Washington SyCip said.

source: http://www.businessmirror.com.ph/business-leaders-vow-to-focus-on-dutertes-inclusive-growth/

Read 2537 times Last modified on Tuesday, 28 June 2016 13:52
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