What does incoming president Duterte's 10-point inclusive growth agenda mean for MSMEs?Monday, June 20, 2016
The "Sulong Pilipinas: Hakbang Tungo sa Kaunlaran" dialogue at the SMX Convention Center finished yesterday. The two-day dialogue-workshop was initiated by the incoming administration of president-elect Rodrigo Duterte in an effort to pull out 9 million Filipinos from poverty.
What is Duterte's 10-point agenda for inclusive growth?The incoming administration has set a ten-point agenda for inclusive growth, which are as follows (emphases ours):
- Continue and maintain current macroeconomic policies, including fiscal, monetary and trade policies;
- Institute progressive tax reform and more effective tax collection, indexing taxes to inflation. A tax reform package will be submitted to Congress by September 2016;
- Increase competitiveness and the ease of doing business. Relax constitutional restrictions on foreign ownership, except on land ownership, in order to attract foreign direct investment;
- Accelerate annual infrastructure spending to account for 5% of Gross Domestic Product (GDP), with Public-Private Partnerships (PPP) playing a key role;
- Promote rural and value chain development toward increasing agricultural and rural enterprise productivity and rural tourism;
- Ensure security of land tenure to encourage investments, and address bottlenecks in land management and titling agencies;
- Invest in human capital development, including health and education systems, and match skills and training to meet the demand of businesses and the private sector;
- Promote science, technology and the creative arts to enhance innovation and creative capacity towards self-sustaining, inclusive development;
- Improve social protection programs, including Conditional Cash Transfer (CCT) program, to protect the poor against instability and economic shocks; and
- Strengthen implementation of the Responsible Parenthood and Reproductive Health Law to enable couples to make informed choices on financial and family planning.
What's the importance of the 10-point agenda in the Micro, Small and Medium Enterprise (MSME) industry?
- The 10-point agenda gives the feeling of being welcomed to set up shop,
- Increases the morale of budding businessmen as the agenda gives them optimism to pursue their own business plans, and
- Gives assurance that the government will back them up, and help them succeed.
There are lots of ideas and concepts on doing business in the Philippines at the 7th Philippine Business & Entrepreneurs' Expo this August 26 to 28 at the SM Megatrade Hall in Mandaluyong City. You can talk with fellow entrepreneurs, or just observe and gain knowledge to polish your business and expand it further.
This event is organized by business event organizer Ex-Link Management & Marketing Services Corporation. For inquiries and partnerships, call telephone numbers 633-01-53, 643-3887 or email email@example.com. Ex-Link Events is also on Facebook, Twitter and Instagram.