BDO CAPITAL & Investment Corp. President Eduardo V. Francisco said that he hopes the government will continue to improve the ease of doing business, especially at the local government unit (LGU) level.
“Most of my clients usually encounter problems at the LGU level. Despite getting support from the Board of Investments and the Department of Energy, when the projects are being implemented, suddenly my clients are being required to submit a lot of permits,” he said at the BusinessWorld Economic Forum in Taguig City on Thursday.
“I think that is the weakness of our government; we have too much democracy,” he added.
He said that the hope is for the government to be able to simplify the process by requiring fewer permits.
“Those who want to launch a startup go to Singapore because they will be given funding and tax incentives, which we do not provide in our country, and then it is even hard to get business permits (here),” he added.
Separately, Management Association of the Philippines (MAP) President Alfredo S. Panlilio said at the same forum that competitiveness will hinge on how much the Philippines pursues innovation, human capital development, and innovation.
Mr. Panlilio said the three pillars for raising competitiveness are “innovation-driven growth, human capital development, and a robust digital infrastructure.”
“Innovation is key to global competitiveness. By empowering businesses and startups through incentives, supportive regulatory frameworks, and investments in research and development, we position the country at the forefront of emerging industries,” he added.
“To ensure inclusive growth, we need to equip Filipinos with future-ready skills through improved educational systems, lifelong learning opportunities, and continuous workforce reskilling,” he said.
“By enabling equitable access to these resources, we can bridge socio-economic gaps and develop a resilient and adaptive workforce,” he added.
He said digital transformation improves efficiency, transparency, and accessibility of services across all sectors.
“Accelerating nationwide connectivity, ensuring cybersecurity, and promoting digital literacy will be fundamental in preparing the Philippines for global competitiveness,” he added.
Philippine Chamber of Commerce and Industry (PCCI) Secretary General Ruben J. Pascual said at the forum that previous and current administrations have failed to address property, infrastructure deficits, and the underdevelopment of agriculture, and human capital.
“We have not addressed poverty, and there is income inequality across (society)… Next will be infrastructure deficits; actually, it is more a slogan in every administration rather than actual performance because we face the same things like bureaucratic delays and financing gaps,” he said.
He said that another factor that contributes to the infrastructure deficit is fiscal irresponsibility, which can be seen in defunded infrastructure projects.
He also said that the government continues to fail in addressing the decline in export orientation.
“This is a strategy that we have to embrace immediately, especially because of the opportunities coming even from the Trump administration. We have lost many industries to Cambodia, to South America, and others,” he said.
“But I think for PCCI, at the heart of everything will be digital transformation. Because digital transformation will address agriculture, education, infrastructure, and governance for the country,” he added. — Justine Irish D. Tabile