Exporters bullish on Duterte’s economic team

CEBU, Philippines - Banking on the sound background of the economic team of the incoming administration, exporters are now crossing their fingers for a stronger support from President-elect Rodrigo Duterte.               

In a statement, PhilExport President Sergio Ortiz-Luis Jr. described the members of Duterte's economic think-tank as “some of the best people we had” during the administrations of former Presidents Fidel V. Ramos and Gloria Macapagal-Arroyo.

Speaking in behalf of the still struggling export players in the Philippines, Ortiz-Luis said that Duterte's choice are good and “competent” people which bode well for the economy, particularly for the export sector.

The export leader expects Duterte's economic team to focus on supporting the micro, small and medium enterprises (MSMEs), agriculture, infrastructure, education and tourism sectors is imperative to sustain economic growth.

To support the MSMEs, deemed the main engines for economic growth and employment, he underscored the need for higher government budget especially for export promotion, measures to lower the cost of doing business, facilitating MSME financing, and bigger budget for research and development (R&D) and innovation.

Amid this positive outlook for the Duterte-led administration, Ortiz-Luis reiterated the industry battle-cry to eliminate red tape, implement computerization in government offices and review of laws and policies to repeal those that are irrelevant and harmful.

Likewise, pursuing its support in the full implementation of the Philippine Export Development Plan (PEDP) for 2015-2017, is imperative for the exporters' fate under the fragile world market.

The PEDP is a roadmap that sets the targets and strategies for the growth of the export industry with PhilExport among the private sector stakeholders.

The PEDP has identified key strategies to achieve exports growth target of 6.6 percent to 8.8 percent to a high of $93.64 billion this year.

Earlier, Venus Genson, former president of Philexport-Cebu, and president  of Gift, Decors and Houseware (GDH-Cebu), said that the industry players are optimistic that the upcoming administration of Duterte will be mindful of the fate of struggling small and medium exporters, whom majority is in the GDH sector.

Genson draws her confidence of expecting sincere help from the new government, as part of Duterte's eight point economic agenda is to provide support services to micro, small and medium entrepreneurs, together with his promises to  ensure attractiveness of the Philippines to foreign investors, and enhancing competitiveness in doing business in the country and provide support services to small farmers to increase productivity and improve market access.

Genson, who also owns export firm called Art N Nature Manufacturing Corporation, reiterated the primary need of GDH players which is access to finance.

According to Genson, access to finance remains to be a critical factor for small raw materials suppliers to grow. (FREEMAN)