Business Bayani PH

The Philippine Chamber of Commerce and Industry (PCCI) has commended the government’s commitment to enhance the nation’s business environment. 

The praise comes as the 49th Philippine Business Conference and Expo (PBC&E) approaches, where key issues on transforming the Philippines into an industrialized economy over the next 27 years will take center stage.

PCCI President George Barcelon, speaking at a recent press briefing, acknowledged the challenges the government faces but expressed optimism about its dedication to improving the business landscape. According to Barcelon, these efforts extend to both streamlining processes and providing essential infrastructure for businesses to thrive.

Barcelon mentioned that President Ferdinand R. Marcos Jr. has made it evident he is dedicated to maintaining infrastructure spending at a level equivalent to 5-6 percent of the GDP (gross domestic product). 

Additionally, the President is committed to finishing infrastructure projects that were initiated by past administrations.

The PCCI, in partnership with the government, is actively working to upskill and reskill the workforce, enhance the readiness of local government units for investments, and offer policy recommendations to boost economic growth.

Despite the first-half economic growth being slower than expected, the business community remains positive about the country’s growth prospects. Barcelon highlighted that headwinds such as the ongoing conflict in Israel and high interest rates exist but expressed hope that consumer spending will drive growth in the upcoming months.

Barcelon expressed a desire for optimism, hoping that within the next two months or so, the economic challenges experienced in the previous quarter can be effectively addressed and rectified.

The PCCI is currently finalizing its resolutions, which will be presented to President Marcos during the upcoming PBC&E scheduled for October 25-26 at the Manila Hotel.

The event is the culmination of five business conferences in strategic areas, where the PCCI gathers programs and policy recommendations from the local business community.

This year’s PBC&E is expected to host over 1,500 local and foreign delegates who will explore new business opportunities and partnerships during the two-day event. 

Vice President and Department of Education Secretary Sara Duterte is set to attend, emphasizing her commitment to working with the private sector to elevate the country’s educational system and workforce to first-world standards.

“Upgrading our educational system is really crucial towards achieving the PH2050 vision. We should invest in the future of our young population so they can contribute to the economic prosperity of our country,” said PBC&E chairman and architect Felino Palafox Jr.

The 49th PBC&E will be a platform for discussing, analyzing, and presenting actionable recommendations related to the Philippines’ transition into an industrialized economy as regarded in the theme, “Vision 2050 – the Philippines as First-World Economy.” 

Key topics on the agenda include education, infrastructure, industry competitiveness, and local governance, and the event will also feature messages from foreign officials.

The PCCI’s optimism regarding the government’s efforts to improve the business environment sets a positive tone for the upcoming 49th Philippine Business Conference and Expo. 🅲🅶