Noy refers business sector’s wish list to Cabinet – PCCI

MANILA, Philippines – President Aquino has referred the wish list of local businessmen to the Cabinet and other agencies for possible action, the Philippine Chamber of Commerce and Industry (PCCI) said.

PCCI president Francis Chua said the specific recommendations addressing the three priority areas are “centered on reforms that the new government must institute to improve the country’s investment and business climate.”

Chua cited the urgency of eliminating corruption on all levels of government through increased transparency, accountability and the elimination of bureaucratic red tape; addressing the deficit problem and achieving macroeconomic stability by putting in place a rational fiscal policy; and integrating government regulatory reform, investment promotion and development efforts on selected key sectors, including infrastructure, power, agriculture production, tourism, and knowledge-based industries to improve competitiveness.

“To create jobs and income, we need an environment that is conducive to business and investments. What we submitted to the President reflects our desire to partner with government to induce more investment inflows into the country and ensure the sustainability of business,” Chua said.

PCCI further brought attention on the strategic importance of facilitating the growth of MSMEs, which hold significant impact on employment. The PCCI paper pushed for the improvement of MSMEs access to financing through the full and effective implementation of the Magna Carta for MSMEs, particularly its provisions on credit allocation and credit guarantees, and public-private partnerships for entrepreneurship development.

In a letter from Malacanang dated August 4, PCCI was commended “for answering the call of the President to take steps towards the active participation in our government and finding solutions for the country’s concerns.” –Ma. Elisa P. Osorio (The Philippine Star)