Domingo urges foreign biz groups to help boost economy

MANILA, Philippines - Trade Secretary Gregory Domingo is urging foreign business groups to support government efforts to promote economic growth.

During the recently-held Arangkada Philippines Forum organized by the Joint Foreign Chambers (JFC), Domingo told the foreign businessmen that the economy would prosper if there is partnership between the state and the business community.

“My appeal to you is not to be negative, not to block it. Just let it happen,” he said.

Domingo asked the foreign chambers to provide inputs to the Industry Development Roadmaps initiated by the trade department.

“We have to rely a lot on the inputs from the industry to have a credible industry development roadmap...we hope you give this effort full support,” Domingo said.

He also encouraged foreign firms to respond to the surveys conducted by international organizations such as the World Bank-Doing Business Surveys, which assesses the ease of doing business in 183 countries.

He noted that having few respondent companies in the surveys give an inaccurate picture of conducting business in the country.

The department targets to have the country included in the top 50 countries with ease of doing business by 2016.