Duterte sees ‘unparalleled’ growth path for economy

President Duterte said the Philip­pines is on track for an unparal­leled trajectory of growth as he highlighted the gains of his re­cent attendance at the Asia-Pacific Eco­nomic Cooperation (Apec) Economic Leaders’ meeting in Peru.

The President said the presence and participation of the Philippines was an economic necessity and, together with the other economic leaders, they reviewed the progress made by APEC in achieving the organization’s goals.

“For trade has helped spur growth, there was a keen awareness that free trade must benefit not only the big businesses,” he said.

“I stressed the Philippines’ position that we must go beyond free trade and instead focus on economic, trade pol­icies that must immediately yield ben­efits for our micro, small and medium enterprises that form the backbone of Apec economies,” he said.

“If not surpass, what the Philippines so far has achieved to improve the ease of doing business, suppress criminality and eliminate corruption,” he said.

In a review of economic goals, the President said leaders of world econ­omies agreed Apec has helped spur growth in trade although there was keen awareness that free trade must benefit, not only the big businesses.

He said the Philippines’s position was to go beyond free trade and instead focus on economic and trade policies that must immediately yield benefits for the country’s Micro, Small and Medi­um Enterprises (MSMEs) that form the backbone of APEC economies.

To make MSMEs grow from lo­cal to global players, the Chief Execu­tive also noted that a supportive policy framework must be provided that will ensure an economic environment for all businesses to thrive.

He said in various meetings of Apec, the Philippine delegation presented and spelled out in detail the country’s prior­ity areas for economic cooperation and investments.

“We explored opportunities that will open up avenues for sharing knowledge and expertise, forge linkages and learn best practices,” Mr. Duterte said.

The President said the government is finalizing plans to open up informa­tion and communications technolo­gy industry to new players in order to promote competitiveness and improve quality of service.

“The only way to make this coun­try move faster to benefit the poor is really to open up communications, the airwaves, and the entire energy sector,” he said.

“My decision now, at this moment, is bubuksan ko ang Pilipinas. You can count in your fingers in one hand the (number) of power players in this coun­try,” he added.

Mr. Duterte said the government is now looking into regulatory require­ments and institutional arrangements to hasten the entry of new players in the power industry and energy sector.

“The Philippines acknowledges the significant role of more vibrant telecom­munication and power industries to be able to participate in the global market with a competitive edge,” he said.

However, the President said he will forget his statement if the telecommu­nication companies would lower their charges which are expensive as this move would benefit the Filipino con­sumer.

“I will forget my statement. Dive all your charges which are currentlyvery expensive or I will allow new player,” said the President.

The President also sent a strong message that it is about time that “we share the money of the entire country and to move faster, make competition open to all.”

Touching on the issue of corrup­tion, the President noted that this prob­lem is not limited to the Philippines alone but shared by the international community.

“But I would not like to wait for the others. Buksan ko na ang Pilipinas, and maybe reroute the entire red tape,” he said.

Cognizant of the importance of law enforcement in creating and enabling a safe and secure business environment, the President said the government is also committed to enhancing the capa­bility of the Philippine National Police.

On his meeting with Chinese Pres­ident Xi Jin Ping and Russian President Vladimir Putin, the President said ways to broaden and intensify economic aid was discussed.

He said he welcomed the invita­tion of President Putin to visit Russia. “I have directed the secretaries of For­eign Affairs and of Defense to under­take an advance visit soonest to firm up a substantive agenda with Mos­cow,” he said.

China, on the other hand, has agreed to ramp up the implementa­tion of economic agreements made during his visit to Beijing.

“President Xi Jin Ping and I di­rected officials of both of our govern­ments to use coordinating mecha­nisms established to ensure the timely follow-up and implementation of the agreements,” he said.

In his engagement with foreign and business leaders, Mr. Duterte emphasized that the Philippines is now introducing economic and fis­cal reforms as part of the country’s approach to make it the world’s top investment destination of choice.

“Let’s work hard together to sus­tain, if not surpass, what the Philip­pines so far has achieved to improve the ease of doing business, suppress criminality and eliminate corruption,” he said.