Inclusive, more open PH economy urged
THE head of a foreign chamber said the Philippine economy must be inclusive and more open to partnerships in order to ensure that growth is not just about numbers but also about people.
Italian Chamber of Commerce in the Philippines president Sergio Boero said in an interview with The Manila Times that it is now a very excellent time for everyone in the world to act in a different way by being more inclusive, open and available to link with each other after two years of the Covid-19 pandemic.
“Now we need to run. We can’t wait so much. We need to implement new strategies, claw our way out,” he said.
This is the reason why Boero emphasized his dissatisfaction with the Philippines’ failure to ratify so far its membership in the Regional Comprehensive Economic Partnership, a free trade deal among the AsiaPacific nations.
“Mostly for the Filipinos, this is a very bad news,” he said, “because I believe that you miss the chance to be part of a global market that will help the Philippines to grow faster, especially after these two years.”
Boero added that the most crucial way for any country to grow is to be open and have a relationship with the outside world.
“So, we are in the middle of the storm, we are not sailing yet out of the storm. So, we need to be prepared. We need to be open. We need to cooperate. That’s the only way to go faster to accelerate the growth for each and every one,” he said.
While he doesn’t have a specific reform in mind, Boero added that one thing is certain: people have to change and shift their mindset.
“We need to be respectful of nature. We need to be respectful of people. We need to have a mind that thinks about everyone,” he remarked.
Meanwhile, governments, Boero pointed out, must place their citizens at the center of their decisions.
“So, it’s not only about industries, it’s not about politics, not only economic reform its really change that we used to look at our country’s problem. If you don’t put the people at the center of your decision, we will stay always at the same point,” he emphasized.
Boero went on to say that he wants to see a government that considers the people before putting reforms in place.
“So, we need to have equal rights, equal opportunities, and this is not going to go against your country, it’s going to help your country to grow organically,” he explained.
A balanced approach to economic development by addressing the country’s water, electricity and infrastructure problems., Boero pointed out, is also required in addition to reforms like corporate tax reductions.
The government must also consider people’s health, hospitalization, and culture and the arts, he said.
“The message is. Let’s keep on working. Don’t give up. Let’s go fast if we can, as soon as soon as we can. We have a great opportunity,” Boero added.