The Asian Pacific Economic Cooperation Business Advisory Council is pushing for broader stakeholder engagement, wider reform measures and better public-private sector coordination to reinforce the government’s ‘Build, Build, Build’ program and in response to the Apec leaders’ call for sustainable, innovative and inclusive growth.
The regional cooperation group agreed to focus on structural reforms to promote innovation and inclusion. This will include work on competition policy, ease of doing business, regulatory reform, economic and legal infrastructure, corporate and public governance and human capital development.
ABAC Philippines said the entry of more players especially in the telecommunications industry was expected to strengthen the digital infrastructure that would boost the Philippines’ competitiveness.
The council also welcomed the passage of the 2018 General Appropriations Act and the new tax reform measure.
“These plans and programs have undergone much review and deliberation. The next step is for all of us to pull together and support the government in ensuring that the laws translate to the promise of being a budget that reforms and transforms, and a tax reform for acceleration and inclusion,” said ABAC Philippines member Lance Gokongwei.