DTI chief places top priority on tourism development, BPOs

MANILA, Philippines – Trade Secretary Gregory Domingo is pushing the development of the tourism sector as his top priority, he told a meeting of some of the biggest business organizations in the country.

“If I have the money, I will put all of it, I mean most of it, in tourism development,” he noted.

Domingo was the lone speaker during the recent joint general membership meeting of the Philippine Chamber of Commerce and Industry (PCCI), the Philippine Exporters Confederation, Inc. (Philexport), the Employers Confederation of the Philippines (ECOP), Philippines Inc., and their member associations.

Justifying his top priority, Domingo said tourism is the only industry in the country capable of absorbing the many millions of jobless Filipinos from the non-skilled to executives.

Lining up his top five priorities, he named the business process outsourcing (BPO) industry as number two, electronics at number three, and mining at fourth priority. Fifth was agriculture but for food security and not for exports.

Asked by PCCI leaders on his thrust in investments, the former Board of Investments (BOI) executive said the administration’s top priority of upgrading the business environment is the best way to get in new investments.

Besides improving the business environment by streamlining the processing of business papers and cutting the cost of electric power, the DTI chief mentioned international trade, consumer welfare and support to small and medium enterprises as his office’s top priorities.

PCCI earlier submitted to the Office of the President a wish list on some quick wins the Aquino administration may pursue in its first 100 days. On top of the list was an aggressive investment promotions offensive calculated to get the country back on the radar of foreign investors to reverse trickles that came into the country in recent years.

It was premised on historical facts that heavy investments in the electronics and BPO industries made them the fastest growing in recent years.

The new trade czar was silent on whether or not to adopt a five-year, national investment promotions blueprint drawn by his immediate predecessor, Jesli Lapus.

One business leader pointed out that among the five major industries the DTI has identified as top priority for government support, manufacturing was not one of them.

Domingo said DTI will be more selective in its support and prefer to bet on sure winners, as some industries are apparently on the decline and could not compete. He promised the business leaders that details of the administration’s economic development strategy and programs will be unfolded soon. –Philexport News and Features (The Philippine Star)