INVESTMENTS. Leaders of the Philippine Chamber of Commerce and Industry (PCCI) in the Visayas attend the 28th Visayas Area Business Conference at the Oriental Hotel from August 22 to 24, 2019. The PCCI has asked local businessmen to help their communities become more attractive to foreign investments. (Photo courtesy of PCCI)
PALO, Leyte -- The Philippine Chamber of Commerce and Industry (PCCI) has asked local businessmen to help their communities become more attractive to foreign investors.
Speaking before the three-day 28th Visayas Area Business Conference held at Oriental Hotel here, PCCI president Alegria Limjoco said it is high time for businessmen to “take advantage of the opportunities now that the country is increasingly becoming more attractive to foreign investors.”
“You play a critical role as local industry captains and local chambers in bringing these foreign investments into the regions,” Limjoco told hundreds of businessmen from the three regions in the Visayas during a forum on Friday.
To draw foreign investments, the official asked local business leaders to forge stronger ties with the local government to help reduce the cost of doing business and create a business-friendly climate.
Of the three regions in the central Philippines, Eastern Visayas is the least preferred location by foreign investors.
In 2018, the value of the region’s approved Filipino and foreign investments spiked to PHP6.38 billion from PHP753.7 million in 2017, according to the National Economic and Development Authority.
The region posted one of the highest annual growth rates among areas in the country, though still marginal in terms of contribution to the country’s total investments of PHP108 billion.
PCCI director for chamber development Rene Simbulan told Visayas-based business leaders about the interest of foreign investors to do business in the Philippines.
Simbulan, who is also vice chair of PCCI's International Trade Affairs, said there is a strong potential for further growth as investors from South Africa, Eastern Europe, Japan and Qatar continue to express interest in searching for partners from the regions.
“To improve doing business in the areas, we encourage business leaders to initiate programs and projects and to become more active in monitoring and lending their voice on policy issues relating to competitiveness,” he added.
The three-day conference, which opened on Thursday, aims to position the Visayas regions as the center of emerging market and future business.
Seminars are centered on chamber management, franchising, and agribusiness support for promotions and regional exposition.
The topics in the plenary sessions include policy and regulatory reforms, micro-, small and medium enterprises series, agriculture competitiveness through integration, developing tourism in the Visayas, and strengthening the collaboration between industry and academe. (PNA)
