SAY FOREIGN BUSINESSMEN
MANILA, Philippines—The country’s strategic location can make it a regional and global logistics hub of various companies, foreign businessmen in the country said in recent forum.
Jon Lindborg, adviser for public-private partnership of the Asian Development Bank, pointed out that even as the Philippines is the world’s second largest archipelago with the 9th largest population, it ranks 90th in terms of cargo volume.
The country’s strategic location for regional and global logistics is expected to aid in further economic growth, if properly utilized, he said at the Joint Foreign Chambers of the Philippines’ briefing “Seven Big Winners: High Growth Sectors for Investment and Jobs.
Lindborg also stressed the need to decentralize Manila ports and improve infrastructure of airports.
One particular success story was when Timex of Cebu was used as a global distribution hub, said Michael Raeuber, president and CEO of Royal Cargo Combined Logistics.
At the forum which tackled the prevailing investment climate in country, the joint chambers also presented its recommendations for taking advantage of emerging industries.
Henry Schumacher, of the European Chamber of Commerce, said the country’s creative expertise can be another “super sunrise industry.”
After the joint chambers noted that poor governance, lack of political will, and corruption are among the barriers to improved investment inflow, Schumacher said: “The good news is, the creative industry doesn’t need government.”
He also proposed the removal of restrictions on foreign equity in advertising. Doing so would result in technology transfer, investment, and job creation. This will also encourage Filipino talent to stay home as well as return home.
At the presentation, the joint chambers noted that the Philippines ranks a distant 139th place in Transparency International’s Corruption Perceptions Index as of 2009. New Zealand is perceived as the least corrupt at number 1 and Somalia the most corrupt at 180th).
Despite the Philippines being amongst the most democratic nations, the group characterized the country’s economic situation as “regrettable,” once again citing mismanagement as a primary reason.
The joint chambers is composed of the American, Australian-New Zealand, Canadian, European, Japanese, and Korean chambers of commerce, as well as the Philippine Association of Multinational Companies Regional Headquarters. –TJ Besa, INQUIRER.net
World Day for Safety and Health at Work
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Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
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Reject Military!
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