AMERICAN businesses are getting encouraged by the prospects under the next administration, despite certain apprehensions regarding the controversial statements made by President-elect Rodrigo Duterte, particularly on the execution of criminals.
In an interview last week, Philippine Ambassador to the United States Jose L. Cuisia Jr. noted that overall, US firms were quite encouraged with what they had seen so far, particularly the 10-point economic agenda of the Duterte administration.
” US businesses are encouraged particularly by statements made about the easing of restrictions on foreign ownership in certain sectors of the economy because that’s what American businessmen have been pushing for. Second would be the emphasis on agriculture, which I think is a welcome development because they see enormous potential in this sector. Also mentioned was the strengthening of the tertiary education by providing scholarships. This is important as this will ensure (the Philippines) will have a qualified labor force looking forward,” Cuisia said in an interview with the Inquirer.
“But when President elect makes statements about killing criminals, that creates some apprehensions. (American businesses) always look at upholding the rule of law,” Cuisia said.
Duterte earlier released his economic agenda which included continuing current macroeconomic policies; accelerating infrastructure spending; ensuring attractiveness of the Philippines to foreign direct investments; pursuing a genuine agricultural development strategy; and improving land administration and management system. Also part of Duterte’s economic priorities were the strengthening of basic education system; improvement of the taxation system and expansion of the conditional cash transfer program.