Seven priorities in our advocacy

The European Chamber of Commerce of the Philippines (ECCP) is a very active partner of the Joint Foreign Chambers (JFC). The JFC collectively represents some 3,000 member companies engaged in over US$230 billion worth of trade and US$30 billion worth of investments in the Philippines, the JFC seeks and promotes open international trade and the creation of an investor-friendly environment in the Philippines as a means to achieve inclusive growth. We launched ‘Arangkada’ in 2010, looking at three challenges for the Philippine economy: to move to a higher level of sustainable growth through higher local and foreign investments, create more and better jobs and make growth inclusive.

At the recent ‘Arangkada’ Forum, we highlighted seven priorities:

1. A sustained major increase in Foreign Direct Investment (FDI), mostly through economic liberalization policies, lifting of restrictions on foreign investment with the aim of increasing competition, and measures to make it easier to do business. We recognize that the government recorded US$ 6.2 billion in FDI in 2014 which is a major increase, but that FDI number is still relatively small to the country’s neighbors in ASEAN.

2. Judicial reform – to speed up the process in resolving business disputes, the abuse of TROs, and addressing unethical behavior in the judicial system.

3. Integrity / anti-corruption – it is essential that the campaign of the Integrity Initiative, started in 2010 by the Makati Business Club and the European Chamber of Commerce of the Philippines, be sustained and enhanced. In this context we are happy with the progress we are making with the Cebu Provincial Government in the ‘Integrity for Jobs’ or I4J project. The approval of the Freedom of Information (FOI) is part of the advocacy.

4. Infrastructure – is badly needed: upgrade airports and seaports to boost exports, imports and tourism, build roads, bridges and rails, etcetera. The country faces a massive infrastructure gap. Mass transportation projects, expressways, seaports and airports must be rapidly constructed.

5. Power security and competitive electricity costs – power costs remain high and the power security leaves much to be desired. The private sector is assisting by joining Interruptible Load Programs (ILP) and starts focusing on energy conservation and energy efficiency, but more needs to be done to address regulatory restraints to invest in power generation.

6. Mining – remains one of the ‘seven big winners’ of Arangkada that is not taken seriously by this Administration; environmentally and socially responsible mining can create wealth, employ people and move the country forward.

7. Increasing job opportunities – will only be possible if the ease and the cost of doing business in the Philippines is addressed. Inclusive growth is possible if manufacturing and agri-business is strategically addressed by government, creating an environment in which local and foreign companies can be competitive within ASEAN and globally.

If businesses in Cebu feel that ECCP is an interesting business organization to partner with, we invite you to join us and become part of the work we are doing, driven by our battle cry.

Stop complaining, be part of the solution!!! For more information, visit www.eccp.com or email [email protected].