Concepcion: Inclusive growth possible under BBM admin

MANILA, Philippines — The overwhelming mandate given to presumptive president Ferdinand “Bongbong” Marcos Jr. is seen to pave the way for the country to achieve inclusive economic growth, presidential adviser for entrepreneurship Joey Concepcion said.

“From my point of view, the underprivileged have been heard. Many people voted in this election maybe because they see hope under him (Marcos),” Concepcion said during yesterday’s Laging Handa public briefing.

Marcos received 31 million votes based on partial and unofficial results of the May 9 election.

Concepcion said he has advised Marcos of the need for the country’s growth to be more inclusive. “We should continue to pour in support for MSMEs (micro, small and medium enterprises) to make the economy more inclusive,” he said.

He also said the incoming administration would need to assure foreign investors of a competent and transparent government. “If they see the government is capable and transparent, more foreign investors will come,” he said.

He said both local and international investors are waiting for Marcos’ announcement of his chosen Cabinet members as this provides more visibility of what can be expected from the administration.

Under the current administration, he said, groundwork has been laid out through the passage of reforms that ease restrictions on the entry of foreign investors.

In addition, he said the incoming administration must take care not to lose the country’s gains in the fight against COVID-19.

For now, he called on Filipinos to unite and support the new administration. “Greater prosperity can happen if we are all working together. Hopefully we will have less friction between the opposition and the administration and more working toward a common goal,” he said.

Prioritize health, jobs

Business group Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) yesterday said it wants the new administration to prioritize the improvement of public health, job creation and strengthening investor and consumer confidence for the country’s stronger economic recovery.

FFCCCII president Henry Lim Bon Liong identified the priorities in a statement following the elections. He said the elections, which had a high voter turnout, are a victory for Philippine democracy and stability.

“After this election, we urge our fellow citizens and our leaders to unite and work hard for a better Philippines. In a world now confronted with prospects of economic slowdown and continuing geopolitical uncertainties, let us strengthen national unity for strong economic recovery and better global competitiveness,” he said.

Among the priorities being pushed by the FFCCCII are improvement of public health, creation of jobs and bolstering of investor and consumer confidence. He said investments should be made to improve education, as well as research and development.

In addition, he said the agriculture sector should be modernized for food security, price stability and rural progress, and social safety nets and assistance to marginalized sectors need to be expanded. He also said it is important to continue and to expand the current administration’s Build Build Build program for infrastructure development.