The country will need the able partnership of the private sector to harness the full potential offered by the Asean Economic Community (AEC) which will formally come into force at the end of December this year, a top government official said. “As the integration grows and deepens, so will public-private sector collaboration. Private enterprises will better be able to influence the business environment, clarify rules affecting their operations and industries, and provide feedback and recommendations to regulators and legislators,” Department of Trade and Industry (DTI) Secretary Gregory Domingo said on Wednesday. Speaking at the Manila Times 2nd Business Forum held in Makati City, Domingo said: “What is important for Philippine enterprises [is that they]should not let up on efforts to improve their competitiveness. This way they will be ready to take advantage of opportunities that will open up as the AEC grows and develops.” Domingo said that for its part, government will continue to increase its efforts to strengthen local industries, especially the micro, small, medium enterprises (MSMEs) and attract investments through policy and program initiatives. “The primary constraints to address are the complex and inefficient administrative processes and procedures and lack of effective competition in key sectors of the… Read full this story
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