LIVE: Realizing Philippines' potential #Arangkada

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LIVE: Realizing Philippines' potential #Arangkada

How far or close are key drivers of the Philippine economy against their full potential? This annual Arangkada assessment and insights from government and private sector give us a reality check

  • Tungpalan stresses the need for infrastructure spending to increase from 2.6% to 5% of GDP by 2016.
  • TUNGPALAN: From 2012 spending of P249 B to P698 B by 2016. That's the plan.
  • TUNGPALAN: We should pursue institutional reform, policy development and implementation to fast-track these infrastructure programs.
  • Tungpalan expresses gratitude by being invited in this highly-regarded forum and is optimistic with the prospects of infrastructure in the country to move forward.
  • Former President Fidel V. Ramos is here to grace the event.
  • Former President Ramos is prominent for his export-oriented policies for the economy in the 1990s.
  • Maria Ressa now takes the stage with the members of panel to moderate the discussion on infrastructure.
  • Former Philippine president Ramos listens in on the panel discussion on infrastructure

  • EDUARDO FRANCISCO: Demand is easy now for the different infrastructure projects and other PPPs because we're able to release some supply.
  • FRANCISCO: There's more than enough equity interested to take part in the different projects under the PPP programs. The private sector is ready and there's enough demand and supply to cover the needs. We're in our sweet spot and make sure we do not drop the ball.
  • BDO's Ed Francisco talks about how the bank is helping push forward the government's PPP Initiative.

  • MENELEO CARLOS: For airlines, we're concerned about the Common Carrier Tax and we asked Congress to remove that and settle for a more reciprocal terms.
  • CARLOS: We have to have a wider open-skies application aside from addressing airport congestion especially in NAIA.
  • MENDOZA: It took atleast 14 years before the decision was affirmed by the Supreme Court. The number of complaints, on my first day, I got 4,000 emails. They're asking for clarifications, COA policies, there are some real complaints that we are pursuing.
  • GALVEZ-TAN: Not all governors are willing to spend for health.
  • NUESA: One problem is there are 200 people who have been sued in the Maguindanao Massacre. They have to be tried together. The number of accused has hampered the case.
  • Session ends.
  • Mr. Shameem Qurashi, Chairman of the Philippine Assocation of Multinational Companies Regional Headquarters, Inc. is now on stage.
  • QURASHI: We will continue to support and promote the Philippines and we're hoping the government will reciprocate for economic progress to continue.
  • QURASHI: We will forever be thankful for the legacy you left in your administration that rejuvenated the Philippine economy; from deregulating different industries to promoting export and trade to provide more competition.
  • RAMOS: Foreign Chambers, you know, are more fun in the Philippines. (laughter)
  • Former President Fidel V. Ramos receives the very first Arangkada Lifetime Achievement Award.
  • RAMOS: Historically, Filipinos have opposed constitutional change. But my dear friends, we have to amend the 1987 Philippine Constitution to be more in sync with the development we're trying to achieve.
  • Former President Fidel V. Ramos receives Arangkada's Lifetime Achievement Award.

  • Former President Ramos talks about the inaccuracy of some of the provisions of the constitution including the investment clause that only allows foreign investors 40% equity share. Ramos also discussed the kind of nepotism in Philippine politics, saying (half-jokingly) why shouldn't we just put it in the constitution as it is very prevalent in our society.
  • Ramos receives his achievement award

  • RAMOS: Albay Rep. Edcel Lagman, principal author of the RH Bill, suggested before that the president and the vice president of the Philippines should be elected together to institute parallel interests for a more progressive reform and governance.
  • Rep. Lagman's suggestion according to former Pres. Ramos is similar to the American format of election where the president and the vice president are elected together.
  • Belmonte: Many of the proposed regulations contained in the Arangkada has already been made into law. One if GOCC governments act, Repeal of night work prohibition for women, the institutionalized of kindergarten legislation.
  • Belmonte lists various acts that have been passed.
  • Belmonte: Our work is far from over. in-structural impediments still exist. Unemployment and under-employment still remain a hurdle.
  • Belmonte: Needs to focus on developing manufacturing and tourism which has a high job development potential.
  • Belmonte: Need to enhance from competitiveness. eg stable power supply and electricity rates.
  • BELMONTE: There are a number of legal and regulatory restrictions. We are trying to see if by a single act of Congress we could do something about that negative list. We are seriously thinking, without having to amend the law.
  • BELMONTE: Land Use policy will move land markets. Some people may not agree with that. But, well.
  • BELMONTE: We are losing 2% of GDP for fiscal incentives. Although the 15th congress is about to close, many of these are already in the advance stages of legislation, there is a rule there that allows you to abbreviate (the process).
  • Belmonte closes his speech
  • Ian Porter delivers closing remarks. Porter is the President of the Australian-New Zealand Chamber of Commerce and the Managing Director of Cardno
  • Porter provides a summary of the speeches made by the speakers throughout the event.
  • Porter extends his thanks to speakers, guests, and the organizers. He also invited the media to attend the press conference after the event.
  • PORTER: Poverty remains stubbornly high in the Philippines. The numbers of people being born into poverty have almost doubled in the past few years. It will require high levels of FDI, transfer of technology, maximizing the potential of big winners,. The 6.6% growth in 2012 was good and the best in Southeast Asia, if that is sustained and if Tampakan is opened, the Philippines would be in a very good position.
  • PORTER: The PH has an extraordinary opportunity, we can move twice as fast and realize the potential. Maraming salamat po.
  • NZ-Australia chamber chief makes a pitch for Tampakan mine, says Philippines can grow 8% once mine starts operating.

  • Press conference with different foreign chambers' heads

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