by: Sarah Joson
Monday, June 27, 2016 |
Business groups in the Philippines led by the Philippine Chamber of Commerce and Industry (PCCI), Management Association of the Philippines (MAP), and the Philippine Exporters Confederation Inc. (Philexport) agree that a gross domestic product growth of eight percent is likely to occur under the incoming administration.
In a statement, PCCI President George Barcelon said the agribusiness platforms of the incoming administration will make growth a possibility. He added that in recent years, the agricultural industry didn’t progress. However, an eight percent GDP growth can be achieved if the nation’s strengths are used to reinforce the agriculture segment.
Meanwhile, MAP President Perry Pe said incoming President Rodrigo Duterte can make a six-percent growth achievable, and he said it could even go as high as eight percent.
Philexport President Sergio Ortiz-Luis Jr. said the new administration has solid plans for the micro, small and medium enterprises (MSMEs), human capital, infrastructure development, increased agricultural and rural enterprise productivity, and rural tourism of the Philippines, and is looking to improve the ease of doing business to propel the country’s expected robust economic growth.