Improving the ease of doing business in the Philippines remains key in ensuring inclusive growth, but this may be better achieved with a change in Constitution, according to the leaders of both houses of Congress.
As Senate President Franklin Drilon and House Speaker Feliciano Belmonte Jr. shared the same view, both likewise admitted that this cannot be done easily since President Aquino does not support such a move.
“[President Aquino] fears that opening up the provisions on the economy will open up amendments to the political provisions of the Constitution,” Drilon noted during the Wallace Business Forum (WBF) Second Quarterly Roundtable held earlier this month.
Belmonte, meanwhile, invited businessmen during the roundtable to share their expertise with the government so that the pending bills that could further improve the ease of doing business in the country can be enacted.
“We in government [will] do our best in laying down policies to establish an environment conducive to growth in this sector. You [in the business sector] can also help the country by providing jobs and opportunities to all. Let your growth be our growth,” Belmonte was quoted as saying.
According to WBF, members of the business community recognized the gains achieved by the government in terms of higher growth rate, but at the same time, expressed concern over the “non-inclusiveness of that growth,” meaning that the economic gains are not trickling down as fast as needed. This was blamed to the administration’s “lack of focus on improving the business climate.”