Foreign biz seeks more reforms

Members of the Joint Foreign Chambers of the Philippines (JFC) have presented a fresh list of reforms to the government, aimed at increasing the competitiveness of the Philippines, which has lagged behind its peers in Southeast Asia.

- DEXTER BARRO II

During the 14th Arangkada Philippines Forum on Thursday, Sept. 25, JFC unveiled the updated version of its policy initiative, launched in 2010, which is projected to increase investments and employment in the country.

Under "Arangkada 2010: A Business Perspective," foreign chambers outlined over 400 reforms aimed at accelerating inclusive economic growth.

JFC's members include the business chambers of the United States (US), Canada, the European Union (EU), Japan, and South Korea, as well as the Philippine Association of Multinational Companies Regional Headquarters Inc. (PAMURI).

Since 2010, JFC has stated that the country has made significant progress in liberalization, infrastructure development, fiscal reform, and digital transformation.

In terms of the economic landscape, foreign chambers noted that the Philippines has grown by an average of about six percent annually, excluding the impact of the Covid-19 pandemic.