Purisima on Breaking Barriers

I will be away for a couple of weeks for my annual sabbatical leave. My commentaries on issues of the day will resume on the 24th of May. My television programs on IBC-13, in the meantime, continue with their airings. Please watch them.

Energy Sector Issues On TV

"Isyung Kalakalan at Iba Pa" on IBC News (4:30 p.m. and 10:30 p.m., Monday to Friday) ends today discussions of issues plaguing the energy sector. The country continues to suffer from high electricity rates, effectively undermining our industries’ competitiveness. On the oil industry side, our continuing dependence on imported fuels makes the economy vulnerable to the pricing uncertainties of the crude oil market. What is the potential of indigenous alternative sources of energy such as solar, wind and geothermal? Can these sources reduce the country’s dependence on imported energy sources? Watch it.

‘Breaking Barriers’ With Trade Secretary Cesar Purisima

‘Breaking Barriers’ on IBC-13 (11 p.m. every Wednesday) will feature Department of Trade and Industry Secretary Cesar Purisima on the 19th of May.

It is business as usual for DTI as the new Secretary is committed to pursue the program initiated by his predecessor. Efforts to maintain stable prices of commodities will be sustained through close monitoring of unfair trade practices of unscrupulous traders. More investments in IT businesses such as call centers will be encouraged. And support for various entrepreneurship initiatives will continue.

Priority areas where programs for development and expansion are being established have been identified. These include the automotive export sector, semi-conductors, IT services, fashion accessories, wearable and food processing.

Confidence is high that export proceeds for 2004 will grow as new opportunities are exploited. The intention, of course, is to promote exports of basic food items without disrupting supply and prices in the domestic market.

Easier Said Than Done

The thrust of government trade promotion efforts is not just to attract new industries to come to the Philippines but to convince existing businesses to stay and expand their operations in the country. But it looks like this is easier said than done.

How can semi-conductor companies be encouraged to stay when the cost of power and electricity has been relentlessly going up thus becoming more and more uncompetitive? Just recently, the courts delivered another jolt to the economy. The decision that came down after eight years of hiatus slammed government plans to resuscitate the dying mining industry. How do you then expect mining investors to come and extend their financial resources and technical expertise to help us extract our resources for the benefit of local economy?

Since we just keep on shooting our foot, we might as well forget foreign investors. Let’s go for self-reliance. Focus on increasing local investments. Let us help ourselves. Who else should keep the Philippines going but us and millions of other Filipinos who are stuck in this country?

Join us break barriers with Secretary Cesar Purisima to gain a better understanding of what government is doing towards livening up the economy. Watch it.

Should you wish to share any insights, write me at Link Edge, 4th Floor, 156 Valero Street, Salcedo Village, 1227 Makati City. Or e-mail me at reygamboa@linkedge.biz. If you wish to view the previous columns, you may visit my website at http://bizlinks.linkedge.biz.