DTI to push for investors’ magna carta, ecozones for non-exporters

Published by rudy Date posted on February 10, 2011

TO shield investors from local governments, the Department of Trade and Industry (DTI) is pushing for a legislated magna carta for investors as well as the establishment of economic zones for domestic manufacturers.

During the Yearend Philippine Economic Briefing on Wednesday, DTI Secretary Gregory Domingo acknowledged that many investors are deterred by some inconsistencies in the policies of the national government with those of local government units (LGUs).

“There are some business-friendly LGUs . . . [but] some are not business-friendly,” Domingo said.

He said the DTI would craft a bill that shall put in place a magna carta for investors, which would “protect investors’ rights” and shield businessmen from changes in rules or policies whenever a new administration takes over an LGU.

He said the bill would likely be introduced next year.

Also, the DTI would seek the Department of Finance’s go-signal for the possibility of establishing economic zones for manufacturers serving the domestic market.

“The concept is to come up with certain areas not subject to LGU rules and regulations,” Domingo said.

He later told reporters that the incentives to be granted in such ecozones would likely be less generous than the perks given away by the Philippine Economic Zone Authority to exporters.

He said the ecozones for domestic manufacturers could be put up in the poorest provinces and towns that have ready access to ports, in a bid to spur economic activity there.

Such ecozones would be managed by a national agency, Domingo said, adding, “It can be BOI [the Board of Investments] or can be a separate body.”

Search for new sunrise industry

Domingo raised the need for another growth sector that could generate employment for 500,000 Filipinos in the near-term.

“We should have a new sunrise industry, like the BPO [business process outsourcing] and tourism sectors,” he said.

The DTI chief said the government is looking at the potentials of agricultural sectors such as bamboo and coconut production.

The domestic assembly of electric vehicles and other cars for niche markets also presents opportunities for exports and employment, he added.

Domingo said the country’s manufacturing industries would be revitalized once perennial issues such as the high costs of power and labor concerns are addressed.

He said the government is trying to solve these problems so that domestic manufacturers would become competitive again. –BEN ARNOLD O. DE VERA REPORTER, Manila Times

Short URL: http://www.manilatimes.net/?p=1618

April 2025

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

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

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

Trade Union Solidarity Campaigns

No to Trafficking

Jobs! Jobs! Jobs!

Categories