PNoy to APEC Leaders: Government Changing Policies to Attain Competitiveness

(Beijing, China) Achieving competitiveness means changes in the country’s policies and guidelines, especially as Southeast Asian countries begin to integrate economically, President Benigno S. Aquino III said during the Asia-Pacific Economic Cooperation (APEC) Chief Executive Officers’ Summit here Sunday.

Delegates of the APEC CEO Summit asked the President about the role of the government in attaining competitiveness.

The President said that it is his government’s thrust to “level the playing field” for businesses, as well as to correct the interventions between the ways and means to achieve all of the government’s goals.

For instance, he said, the ASEAN will begin integrating next year, and this means the removal of both tariff and non-tariff barriers in a systematical way that does not disrupt economies.

Each member country has varying degrees of advancement and members must try to accommodate each other’s needs and wants to the best degree for collective growth within the ASEAN, including their dialogue partners, he said.

“At the end of the day, it is a review of all the current regulations, ensuring that there is a logical flow from that which we want to achieve and the means towards achieving that,” he said.

This means a review of all of the fiscal incentives that might have outlived their usefulness and the introduction of new incentives for all the investors and businesses to become more efficient in doing business, he explained.

At this time, there is a need for the Philippines to review its laws and regulations so that the country could have a new economic direction, he said. PND (as)

Source: PCOO

Photo above: President Benigno S. Aquino III answers questions directed to him during the panel discussion in the 2014 APEC CEO Summit at the Summit Plenary,  China National Convention Center in Beijing, People’s Republic of China on Sunday (November 09, 2014).  (Photo by:Ryan Lim / Malacañang Photo Bureau).