Development partners call for more reforms
capacity of the economy, we can work towards making it more inclusive, by ensuring that more and better quality jobs are created,” he said.
“The cost of doing business can be reduced through simplification and streamlining of business regulation and processes. There is a need to urgently remove barriers to entry for private businesses, especially in the areas of interisland shipping.”
Key areas for employment growth are agriculture and tourism, officials said.
“To support this agenda, Congress needs to enact critical laws such as the National Land Use Code, the Competition Policy Law, and the Cabotage Law,” Socioeconomic Planning Secretary Arsenio M. Balisacan said.
All three measures, however, have not prospered in the 15th Congress and will have to be refiled anew in July. Today marks the House of Representatives and the Senate’s final plenary session before an election break starts this Saturday. One more plenary is scheduled during Congress’ final June 5-6 session.
Mr. Konishi, meanwhile, also stressed the importance of infrastructure development in growth.
“Infrastructure spending by government needs to increase from 2.6% to 5% of GDP ( gross domestic product) by 2016. A coherent and efficient intermodal transport road map with backbone links to growth areas needs to be adopted,” he said.
To finance these efforts, the government was urged to pass the fiscal incentives bill. The measure, again, will not be approved during the current Congress.
Other key recommendations moving forward involve restoring trust in the justice system and faster implementation of climate change mitigation and adaptation initiatives. Mr. Konishi added that the administration must also continue its good governance initiatives.
On Mindanao, conference participants also discussed how to best further integrate the region into the country’s medium and long- term development plans, especially in light of an expected peace deal with the Moro Islamic Liberation Front.
“The breakthrough in the peace process has become an impetus to greater investments not only in the [ proposed] Bangsamoro [ region] but also in the entire Mindanao. The potential of Mindanao for agriculture and tourism, among other industries, has long been recognized and will soon be realized,” Finance Secretary Cesar V. Purisima said.
Overall, Mr. Purisima said that overall the government committed to focus on key growth and reform areas.
“The general tone of the meeting was reinforcement of existing policies and our commitment to inclusive growth,” he noted.
Budget Secretary Florencio B. Abad, for his part, said: “The government has a program and we remain committed to implementing our planned reforms. The forum was organized to let our partners be aware of these directions and give their ideas and feedback in addressing constraints to growth. They also indicated where they can supplement and complement government efforts, and we appreciate this.”