NEW DELHI - Department of Trade and Industry (DTI) Secretary Ramon Lopez encouraged Indian businessmen and delegates from the Association of Southeast Asian Nations (ASEAN) to ride on the ongoing Philippine (PH) growth story.
During the PH-India Business Forum on 24 January 2018, the country’s trade chief presented Dutertenomics — the socioeconomic policies of President Rodrigo Duterte—to encourage investors to partner with PH, which will help in creating additional value for their businesses and boost income-generation operations.
“The initiatives under Dutertenomics can help support investors by creating an environment where companies can do business swiftly and efficiently,” said Sec. Lopez, stressing that ongoing infrastructure projects strategically link the country’s industries. These, in turn, will further power the growth of an already strong economic base.
“Our ‘Build Build Build’ infrastructure program will facilitate greater trade and investment as it opens up access to new markets, while minimizing trade and logistics cost,” he added.
Under Dutertenomics, the government’s massive ‘Build Build Build’ program aims to develop massive and efficient infrastructure projects to create more opportunities in the countryside by developing more regional growth centers.
The trade chief also highlighted DTI’s Trabaho, Negosyo, Kabuhayan, at Konsyumer initiative as well as the inclusive, innovation-led, industrial strategy (i3s) as support for the socioeconomic agenda of President Duterte. The i3s complements the government’s thrust to promote an innovation ecosystem in PH, with different sectors partnering to generate more jobs and improved business opportunities. This sets up the environment for MSMEs to grow, with full assistance in training, product and market development, equipment and financing from government.
With the significant growth of 6.9% in the country’s GDP and 39% growth in the Board of Investments (BOI) approved investments, Sec. Lopez urged investors to take part in the country’s economic growth.
According to the trade chief, investors can fully recoup their investments as their businesses enjoy the benefits of operating in a fully-industrialized and secure business environment. They can also enjoy PH’s stable macroeconomic fundamentals, the educated English-speaking workforce, the demographic sweet spot that presents an enlarging consumer base, and wider market access thru preferential trade agreements.
Sec. Lopez shared that the Philippines’ greatest asset is its people, highlighting the large pool of highly qualified and educated work force that is strongly customer-oriented, highly trainable with fast learning curve, adaptable to universal cultures and with high level of commitment and loyalty.
“The hallmark of Dutertenomics is to attain growth with equity. That is, addressing inequality while reducing poverty across the regions towards improved quality of life for all,” he added.
Sec. Lopez also shared the potential of the Regional Comprehensive Economic Partnership (RCEP) as key to opening a huge integrated market base of 3.5 billion with ASEAN, plus its six Dialogue Partners (India, South Korea, China, Japan, Australia and New Zealand).♦
INDIA, long considered a sleeping economic giant, is now undoubtedly cementing its position as among the world’s major economies. As of the fourth quarter of 2016, it enjoyed the distinction of being the world’s fastest-growing major economy, with growth rates averaging over 7 percent. Undoubtedly, India has become an attractive export market with balance of trade skewing sharply to the advantage of its major partners. The Philippines, also one of the world’s consistently... Read more
IT Business Process Association of the Philippines (IBPAP) recently sent the largest foreign business delegation to the 25th edition of the NASSCOM India Leadership Forum to Mumbai last 17-19 February 2016, sending a signal and willingness to work closely with the Indian IT/BPM industry according to the Department of Trade and Industry’s Philippine Trade and Investment Center – New Delhi.
IBPAP newly-elected President Ike Amigo led the 24-member delegation including IBPAP Board of Trustees and top industry business executives Catherine Salceda-Ileto, Benedict Hernandez, and David Leechiu at the annual event considered to be one of the world’s most important IT and business process events.
The Philippine Trade and Investment Center (PTIC) in New Delhi, commercial section of the Embassy of the Philippines in India and South Asia and the official representation of the Department of Trade and Industry (DTI), provided full support to the large Philippine delegation and arranged strategic leadership meetings between officials of the IBPAP and NASSCOM. The meeting between NASSCOM and IBPAP discussed stronger and strategic engagements between the two largest IT and Business Process associations of the world, stronger collaboration and how both associations can jointly address new and growing challenges faced by the industry today.
Philippine Commercial Counsellor Michael Alfred Ignacio, who heads the Philippine Trade and Investment Center in New Delhi said, “We arranged this leadership meeting between the Philippines’ and India’s industry associations as it is important that both IBPAP and NASSCOM work together to discuss and further common interests in order to address new and emerging global challenges faced by the industry as a whole and to sustain the industry’s sustainability in today’s economic landscape.” DTI-PTIC New Delhi also arranged the IBPAP leadership’s meeting with the President of the United Kingdom’s Global Sourcing Association, formerly the National Outsourcing Association, which awarded the Philippines its most coveted Offshoring Destination of the Year Award three times in the past. “Given the changing climate in the world today, it is important to explore and re-engage other markets for the Philippine IT and business process industry as a whole, taking stock of our strengths and advantages, as well as the demands of the changing global markets,” said IBPAP President Ike Amigo.
The NASSCOM India Leadership Forum 2017, now on its 25th year, discussed today’s industry trends and challenges, such as the looming impact of intelligent automation and artificial intelligence, the growing importance of intelligent data and analytics, trends in innovation and their impact on the global industry’s trajectory. The event was highlighted by keynotes of several global thought leaders such as India’s richest industrialist, Mukesh Ambani, CEO of Reliance Industries Limited and Ginni Rometti, Chairwoman, President and CEO of IBM. PTIC New Delhi also supported last year’s delegation to the NASSCOM event with a 12-member delegation, with similar meetings with NASSCOM officials and business-to-business meetings with several Indian Conglomerates.