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PIA Press Release
2006/10/09

Commentary: Economy needs ‘political will’ to be on track

Negros Occidental (9 October) -- President Gloria Macapagal Arroyo pledges political will to keep the economy on track and provide a more business-friendly environment and the budget on plan.

The President assured this after she signed memorandum orders on the economy including the lowering of power costs during the National Competitiveness Summit in Malacañang recently.

Congress was urged to complement this executive action by passing needed legislation.

President Arroyo added that the private sector creates jobs and is the engine of economic growth while the government’s role is to help invest in the people, institutions of the government and give the citizens the tools needed to compete and win in the global economy.

A task force in Philippine competitiveness was created to see to it that the measures planned in the summit will be carried out some of which is to improve quality management, enhance the subjects of Science, Math and English in schools and for the Department of Energy to lower electricity costs.

On the other hand, business icon and founder of Sycip, Gorres and Velayo Accounting firm, Washingto Sycip affirms the president’s infrastructure development thrust. Sycip said the President is right in enhancing the competitive advantage of the five super regions namely the North Luzon Agribusiness Quadrangle, the Luzon Urban Beltway, Central Philippines, Mindanao and the Cyberservices of Corridor. He also suggested to market the Philippines as a land of music.

Malacañang report added that the government and the private sector should work together and publicize projects for implementation, particularly the large ones, in order to encourage local and foreign participation. (PIA/EAD) [top]

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