The Philippine economy has been experiencing high economic growth but without being very inclusive in providing more and better quality jobs for the unemployed and underemployed. This highlights the importance of more productive and inclusive investment.
This year, the JFC selected the theme “Invest NOW for Inclusive Growth!” which recognizes the need to make current high growth more inclusive through increased and better investment.
In February 2014, the JFC organized its Third Anniversary Forum with the theme More Reforms=More Jobs!, a statement that reflects the Aquino administration policy agenda and aspiration to pursue inclusive growth.
Almost 40 speakers from the public and private sectors will discuss issues critical to more investment, and a strong economy, following the theme. President Aquino, who spoke at the 2012 forum, has been invited to address the forum on investing for inclusive growth while Senate President Franklin Drilon will deliver a keynote speech on investment climate law reforms. Finance Secretary Purisima will give the opening remarks while Labor Secretary Rosalinda Baldoz will speak about labor policies supporting increased and inclusive investment. Makati Business Club Chairman Ramon del Rosario, Jr., NCC Private-Co Chair Guillermo Luz, IMF Resident Representative Shanaka Jayanath Peiris, and former Socioeconomic Planning Secretary Cielito Habito will all speak about various reforms, challenges, and opportunities to enhance competitiveness and make current high growth more inclusive.
Top news personalities, including Rappler.com CEO and multiawarded journalist Ms. Maria Ressa and PROBE TV Productions Co-Founder Ms. Che Che Lazaro, will moderate 4 panels on Infrastructure, High Employment-Generating Sectors, Keys to Unlock Investment, and Education and Labor.
Results of the Fourth Anniversary Assessment will also be unveiled at the Forum to update participants on the country’s progress in accomplishing the 471 recommendations listed in the original Arangkada Philippines: A Business Perspective report published in December 2010.
The Arangkada recommendations are based on insights of nearly 300 Filipino and foreign investors who in nine focus group discussions provided data for the original report.
Such reforms, if implemented, could result in $75 billion in new foreign investment, create 10 million jobs, and generate over a trillion pesos in revenue for the economy within this decade by enabling strong growth of the Big Winner Sectors:
Agribusiness
Creative industries
Information technology
Infrastructure
Manufacturing and logistics
Mining
Tourism, medical travel, and retirement
The Third Anniversary Assessment conducted in late 2013 involved some 40 private sector experts who collectively evaluated 471 recommendations. These experts included senior consultants, former public officials, business executives, and academics.
Ratings from past assessments have shown that 73% of the Arangkada recommendations are active from 65% in 2012 and 51% in 2011.
Source: Philippine Star
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