Varela named to LEDAC

MANILA, Philippines - Philippine Chamber of Commerce and Industry (PCCI) president Miguel Varela has been appointed as member of the Legislative Executive Development Advisory Council (LEDAC) to represent the private sector.

Varela’s appointment was announced by Executive Secretary Paquito Ochoa through Socioeconomic Planning Secretary Arsenio M. Balicasan.

The appointment was in accordance to Section 2 of Republic Act No. 7640 or the law creating the LEDAC.

The LEDAC serves as a consultative and advisory body to the President who heads of the national economic and planning agency. The LEDAC advices the President on certain programs and policies essential to the realization of the goals of the national economy.

As a LEDAC member, Varela said he would articulate the proposals of the business community covering small, medium, and large enterprises.

Varela would push for proposals necessary to promote inclusive economic growth through improved competitiveness, greater investments and international trade.

To attract investments, Varela noted that President Aquino should consider liberalizing the restrictive economic provisions of the Constitution.

The Constitution sets a limit on foreign ownership in certain activities here.

Aquino has earlier said though that he does not support making amendments to the Constitution.

Varela said investments would restore both the quality of life and the competitiveness that had been eroded by recent natural calamities such as the Bohol earthquake and the Super Typhoon Yolanda.

He noted that there is a strong link between creation of jobs and foreign investments.