Suggestions from the business community

The economy is improving and investors are generally bullish about the Philippines' prospects for growth. This is not surprising -- economic recovery is region-wide and since early last year, analysts have been predicting Asia's rebound from its worst post-war financial crisis. The only question now is how quickly each country can recover. In this the numbers show a worrisome trend: the Philippines is recovering but is being left behind by its better performing neighbors.

President Estrada himself has acknowledged this as he continues to make his pitch for constitutional amendments. But with Charter change in the freezer, as the President has announced, the government must find other means to galvanize the economy and make the country catch up with its neighbors. In this the government can listen to the business community, whose members have been expressing their views in various surveys and studies. No matter how unpalatable their complaints may seem to the President, these business leaders are in the best position to know how to improve the investment climate.

Most of their complaints aren't new: terrible traffic, poor infra-structure, red tape, an inefficient legal system. They complain of incon-sistent government policies, of a corrupt bureaucracy. They worry about criminality and political stability, although they stress that such matters are now being addressed by the administration. And while cronyism is not on top of their list of concerns, they worry about it, about an environment that favors people close to those in power.

Investors aren't in the business of whining and griping. They offer suggestions to address their concerns, including a more efficient land use policy and stronger local government to attract investments. They have sensible suggestions to bring investors to places other than Metro Manila. They're not here to de-stabilize the administration but to make a profit and in the process rev up the Philippine economy. Reading about their complaints and sugges-tions may ruin the President's day, but ignoring them can have worse consequences.