The government should work harder to streamline business processes and improve the quality of education if it wants to be able to compete with its neighbors in attracting investors.
Robert Vinje, vice president for sustainable expansions at SunPower Corp., compared the business environment of the Philippines with that of Malaysia where SunPower also had a plant.
In particular, Malaysia had a lot of task forces and relevant agencies that helped investors in accomplishing various requirements for their business operations.
“The Philippines needs to improve in the area of facilitation and follow Malaysia’s example,” he said in a presentation at the Philippine Solar/Photovoltaic Summit.
He said the country should also improve its utilities, particularly power, as good power facilities were among the biggest and most crucial requirements of manufacturers when locating to a certain country.
Another area of improvement for the country, he said, was education. To attract more investors, the country would have to further improve its higher education system to ensure that graduates had the right skills that industries were seeking.
He added that public and private sector cooperation would also have to be enhanced.
“The Philippines needs to start tying the private sector, foreign investors, and the government together. That’s what will make the Philippines win more investors,” he said.
In terms of tax breaks, he said the Philippine Economic Zone Authority was already doing a good job in that area.
In general, he said, any country that wanted to attract more investors had to have a banner-carrier, or an agency that would rally investors’ interest, much like the Peza; a firm stand against corruption; and “relentless positivity.”
“You should focus on the positives, and know that success breeds success. If the Philippines helps us, we will also do our part,” he said.
Vinje’s comments echo suggestions made over the years by foreign and local businessmen to help the country attract more investments.
The creation of Peza in 1995 was a direct response to such calls, as was the creation of various one-stop shop units in various government agencies involved in licensing and issuing business permits.