Traders list 12 initiatives to boost economy in 2024

Political stability, globally competitive education among recommendations

- CATHERINE TALAVERA

Political stability, a globally competitive education and predictability of contracts are among the 12 initiatives that the country should undertake to strengthen the Philippine economy this year, according to an alliance of Filipino-Chinese entrepreneurs. 

The Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) made the pronouncement yesterday at a forum organized by the Foreign Correspondents Association of the Philippines (FOCAP).

FFCCCII president Cecilio Pedro said federation members are optimistic about the country’s economic growth this year.

“The Philippine economy remains resilient amid all the global challenges because our people are resilient and the Philippines still has positive macroeconomic fundamentals,” Pedro said.

“There have been latest news reports of economic recessions in Japan, Germany, Britain and other economic uncertainties, but we face the typhoons of life head-on and adapt to whatever the situation is,” he pointed out.

Pedro emphasized that the economy can perform better this year with the implementation of a number of initiatives.

These include continuing business reforms, empowering local manufacturing, revitalizing export industries, securing affordable and stable energy, accelerating digitalization, modernizing agriculture and infrastructure development.

Other initiatives highlighted by Pedro are investing in education, social development, boosting tourism, ensuring political and social stability and having global economic cooperation.