Private sector key to competitive food and agribusiness industry

The private sector remains the key driver in the development of the domestic food and agribusiness sector toward global competitiveness, an industry expert said.

"While state intervention would be crucial and strategic in the pursuit of competitiveness, still much of the progress would be private sector-driven because of the compelling element of self-preservation," said Francisco Buencamino, this year’s chairman of the Agrilink and Foodlink, the country’s biggest and most prestigious annual international agribusiness and food trade show.

In the face of increasing global competition, Francisco said it is up to the private sector to initiate necessary measures to keep local industries on an even keel with foreign competition.

"This reality becomes all the more pronounced considering government’s budgetary constraints. Thus, strong partnership between the two parties is required to maximize the potential of available resources," added Buencamino.

He was referring to integrated and infrastructure-heavy government-private sector projects that will help the agribusiness industry raise its productivity and improve cost efficiency that will lead to increased profitability.

"This entails making our products both quality and price competitive, locally and abroad. This pursuit offers handsome rewards because it will generate rural employment, push down prices at the consumer level, boost our exports and beef up the peso against the dollar, among others," said Buencamino.

He said this year’s Agrilink/Foodlink theme "Corporate Citizenship: Touching Lives, Strengthening Linkages," sends the message that pursuing global competitiveness is a social corporate responsibility.

He said through the exhibit/seminars that will start next week, agribusiness enterprises are exposed to the best technologies and other vital resources needed for them to enhance their competitiveness.

Occupying 11,500 square meters of World Trade Center’s total indoor and outdoor exhibit space, the Agrilink/Foodlink 2003 will be the country’s biggest assembly of the world’s food and agribusiness experts and players, and the most comprehensive showcase of the latest products, services and technologies.

The exhibitors include prestigious companies from Europe, Asia, North America, and the Middle East, together with local industry giants Monsanto Philippines, General Milling Corp., San Miguel Food’s B-Meg, Infamco Group and Asia Giant, among others.