A group of Filipino and American traders expressed concern over the possible economic setback caused by President Rodrigo Duterte’s recent anti-US outbursts.
“They are concerned. They said that in our hearts we are Filipinos but our allegiance is with the US,” said Philippine Chamber of Commerce and Industry president George Barcelon at the sidelines of the 42nd Philippine Business Conference & Expo at Marriot Hotel in Pasay City.
“I think these sincere expressions of concern should be heeded [by the president]. In general they are concerned, not in the peace and order situation but more on investments,” Barcelon said.
“We want them to feel that it’s not as worse as they think particularly when there is positive pronouncement coming from the economic team. I think he is listening [but better] if backed up by the economic managers. But we don’t worry ourselves to death, we are just concerned,” Barcelon said.
Meanwhile, PCCI endorsed a list of resolutions calling on the government to prioritize tax reforms, good governance, infrastructure development and improvement of the agriculture sector.
PCCI also underscored the goal of empowering the micro, small and medium enterprises to achieve employment targets.
“We want the government to prioritize good governance, tax reform, agriculture, infrastructure. All these can immediately have an impact that can be gained from the resolution. The bottomline is how to create more jobs because that’s the mandate –create more jobs and access to financing for MSMEs. We can be more focused and fast-tracked … We need to create a bigger space,” Barcelon said.
The PBC resolution cited the need to further ease the business environment, not only at the national level but also at local government unit level. It supports the government’s program of harmonizing the policies and procedures, automating business processes and licensing systems and reducing the number of days to process permits and licenses to a maximum of three days across all national and local government agencies and local government units.
It also supports proposal to reduce personal income tax rate to 25 percent, adjust tax brackets to inflation, broaden VAT base and simplify tax system.
The resolution also seeks the cooperation of the Finance Department and the two houses of Congress to consider a special simplified tax regime for MSMEs.
The business group also asked the Transportation and Trade Departments to transfer the supervision of international cargo forwarding and logistics from the Philippine Shippers Bureau to the Maritime Industry Authority.
