7 industries to play key role in economic growth
MANILA, Philippines—The joint Foreign Chambers will be presenting on Monday a roadmap that it believes will set the Philippines on the path to economic progress.
Dubbed “Arangkada Philippines 2010,” the roadmap is hinged mainly on seven key industries, which have the highest potential to drive the country forward.
Before the presentation of the roadmap, members of various foreign chambers will present the reasons why the Philippines seemed to be growing too slowly and suggestions on how the country could become more competitive.
The seven fastest-growing key industries and various suggestions on how these could be harnessed for the country’s progress would then be presented.
Aptly labeled “Seven Big Winners” by the JFC, these sectors represent the future of the country, according to the foreign business groups.
During the sneak peek of the Seven Big Winners last October, different sector representatives presented their “wish lists” for the government.
Roberto Amores, vice president for agriculture of the Philippine Chamber of Commerce and Industry, laid down various measures that the agribusiness sector needed to be able to harness its full potential.
These included the allocation of an adequate budget for the full implementation of the Agriculture and Fisheries Modernization Act, the restoration of the Quedan “D” sugar allocation for food processors and exporters, and the provision of expanded incentives to encourage private investments in the industry.
He also sought the enactment of a bill that would allow farmers to use land secured from the Comprehensive Agrarian Reform Program as collateral for bank loans and the provision of incentives to corporate farming, without prejudice to the government’s land-reform program.
The business-process-outsourcing sector, represented by Business Processing Association of the Philippines chief executive Oscar Sanez, pushed for education reforms, particularly the approval of the K+12 scheme, which would add another two years to basic education. –Abigail L. Ho, Philippine Daily Inquirer
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