Monday, 1 June 2009

Foreign chambers push for Philippine trade reforms

Updated as of 4:13PM, 06/01/2009

FOREIGN businessmen on Monday released a paper which outlines government actions needed to prepare the Philippines for the world economy's eventual recovery.

The Philippines should take advantage of the current downturn to enact reforms that will make its investment climate more attractive when the crisis is over, the Joint Foreign Chambers said at a media briefing.

The chambers want the speedy passage of key laws including the rationalization of fiscal incentives and the building of infrastructure, mostly to improve transportation networks in Luzon.

Barriers to foreign investment, corruption, deficient education should also be addressed, they said.

Government, they added, should also focus efforts to bolster the following sunshine sectors: business process outsourcing, agriculture, creative industries, infrastructure and logistics, manufacturing, mining and tourism. —Jessica Anne D. Hermosa

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