PH Government Urged To Broaden Infrastructure Plan

Business leaders urged the government to focus on creating a broader infrastructure plan for the Philippines to ensure investment-led economic growth.

International Container Terminal Services Inc. EVP Christian Gonzalez said there is a need for an infrastructure privatization program driven by a broader strategy to attract foreign investments in manufacturing.

“Right now, infrastructure privatization is done piecemeal in isolation…Where is the master plan for creating industrial zones in areas that are already connected to the global marketplace? Where is the master plan to create infrastructure in places that will later become sites for industrial and commercial areas that will be meant to be connected to the global marketplace,” he said.

“Unless we start thinking based on a broader infrastructure plan and move out of this isolated system of privatization and building infrastructure, frankly, we will not accelerate foreign investment nor manufacturing in the way we all want,” he added.

Meanwhile, Ayala Corp. president Cezar Consing said to look into efforts by neighboring countries to ensure sustainable long-term economic growth.

“We need some of that because unless you have a real significant transfer of resource allocation, we will never rebuild our manufacturing sector. We are the poorest BBB+ country in the world. Yet look at consumer goods, you can find everything here. Clearly, there is a misbalance,” he said.

PLDT Inc. President Alfredo Panlilio emphasized the need to attract more investments from the manufacturing industry.

“Clearly, (there’s a) lack of manufacturing companies that invest in the country. If you talk about manufacturing, it’s an investment that’s long-term for the country,” he said.

Stratbase president Dindo Manhit emphasized the role of the government in creating an investment opportunity to create jobs.

“Imagine if we give enough incentives to the manufacturing sector. Imagine if we really generate more tourism. Imagine if we continue to play a role and strengthen business process outsourcing or the KPO, knowledge process outsourcing, as one of our exports – imagine 109 million Filipinos, who are productive, working, and earning towards that end. That’s a big consumer base. If this group of people will spend because there’s enough livelihood and not much indebtedness, then you can see more sustained growth. Consumption economy, which is what drives us, can only be sustained, I believe, from an investment-led growth trajectory, not jobless growth,” he said.

Source: Philstar