Roxas allays concerns of traders on gov’t policies

Trade and Industry Secretary Manuel Roxas II tried yesterday to allay the growing fears and pessimism of the private sector on the economy and government’s regulatory and trade policies.

Speaking before members of the Philippine Chamber of Commerce and Industry (PCCI) during their 28th Philippine Business Conference at the Manila Hotel, Roxas assured local businessmen that the government is addressing the public’s growing concern at the ballooning budget deficit.

He said that among the measures that government is looking at is the indexing of taxes of sin products and creation of a new revenue collecting body.

On fears about a perceived reverse privatization, Roxas said "the government’s policy on privatization remains the same."

He explained that government’s involvement in the Manila Electric Co., the Philippine International Air Terminal Co., and in the Maynilad Water Services Inc. "is merely to ensure continued delivery of service and not to intervene."

"The government’s involvement is only in matters of legality, corruption, and consumer right against service provider rights," he added.

Roxas also tried to downplay rising concerns about the influx of imported cheap goods from China.

"The Philippines should actually look at China more as a potential market rather than merely as a competitor," he said.

Roxas pointed out that Philippine exports to China have been steadily increasing.

The DTI chief said that two-way trade between the Philippines and China amounted to $1 billion last year with a trade surplus in our favor amounting to $250 million.

Roxas also reiterated the government’s thrust of "developing a vibrant small and medium enterprises (SME) sector to provide a strong base" for the domestic economy.