Exporters want the incoming administration to put in place an annual export fund and amend the mandate of the Philippine central bank to help the sector.
In a statement, Sergio Ortiz-Luis Jr., Philippine Exporters Confederation Inc. president, said an Export Support Fund (ESF) “under the new administration could be tacked into the yearly regular budget of the Department of Trade and Industry [DTI] to cover specific programs and projects of the EDC [Export Development Council] for export promotions and development.”
The current ESF is a one-time fund allotted by the Arroyo administration two years ago in a bid to aid exporters amid the global financial crisis.
“The institutionalized ESF would be the resource that will regularly fuel the implementation of the Philippine Export Development Plan that EDC, DTI and the private sector prepare every three years,” Ortiz-Luis said.
Also, Ortiz-Luis said the next administration should tweak the mandate of the Bangko Sentral ng Pilipinas so that it would “make the exchange rate policy a weapon in speeding up and sustaining economic growth and development, not just a tool at reining in inflation.”
Small exporters, who mostly use indigenous materials, have complained about the recent strength of the peso against the US dollar.
Ortiz-Luis said the next President should also find ways to reduce the high cost of power and of domestic shipping and port handling.
He said the new government should also get rid of the “hidden costs” paid for when applying for business permits.
In their ‘Doing Business 2010″ report, the World Bank and the International Finance Corp. said the Philippine ranking in terms of ease of doing business fell three notches to 144th spot from 141st the previous year.
The Philippines lagged behind Thailand, which ranked 12th; Malaysia, 23rd; Vietnam, 93rd; Indonesia, 122nd; and Singapore, 1st.
The Philippines scored low in terms of starting a business, closing a business, paying taxes, protecting investors, getting credit, enforcing contracts, employing workers, dealing with construction payments, and registering property. –BEN ARNOLD O. DE VERA Reporter, Manila Times
World Day for Safety and Health at Work
“Safety and health at work every day!”
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
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
