(PNA)
MANILA — The Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) Philippines will table its four-point agenda during this month’s summit in Port Moresby, Papua New Guinea.
ABAC Philippines Chair Tomas Alcantara said the four-point agenda is consistent with the government’s goal to achieve inclusive and sustainable growth.
ABAC Philippines’ four-point agenda are growing globally-competitive micro, small, and medium enterprises (MSMEs); accelerating economic growth through infrastructure; championing the services sector for a strategic global economy; and harnessing digital innovation as the key to the future economy.
The Council presented its plan in a letter to President Rodrigo Duterte, noting that these are “strategic complements to the Philippine Development Plan, thus will create more businesses, generate more jobs, and increase income to further reduce poverty.”
Alcantara said the ABAC Philippines will push that its agenda be included in the forum’s priorities for 2019 and beyond.
He added that for the local enterprises to grow and be integrated into global trade, the government should continue reforms that would make MSMEs more competitive.
“For the Philippines, at the end of the day, the issue is competitiveness. While fiscal reforms are being deliberated as we speak, a lower-hanging fruit that should be urgently addressed is red tape,” Alcantara said.
“If we make advances on ease of doing business for foreign and local firms, big and small, that will have tremendous impact on generating jobs and increasing incomes,” he added.
APEC Leaders from 21 member-states are set to meet in Papua New Guinea for the conclusion of the APEC 2018 Summit on November 18.
Leaders are also set to have a dialogue with the ABAC to hear recommendations from the private sector on ways to achieve inclusive and sustainable growth.
