The Arangkada Philippines Project (TAPP) www.arangkadaphilippines.com
Introduction of Panel 3: General Business EnvironmentByMr. Edward Eun Gap ChangPresident, Korean Chamber of Commerce of the PhilippinesPresident and CEO, Asia Paciifc Express Corporation
Good Afternoon Ladies and Gentlemen:I am Edward Eun-Gap Chang, President of the Korean Chamber ofCommerce. Our chamber is a private organization of Korean Businesses in thePhilippines who are very keen on this country’s General Business Environment.We have listened to informative presentations by senior and former government officials and two panels of experts discussing four of the Big Winner Sectors and Infrastructure. Now I hope we are to tackle another major topic, the
General Business Environment
.The JFC recommendations in
for the Big Winner Sectors areinadequate without a sound foundation. This foundation includes 11 categories ofcritical factors that contribute to a good business environment namely: Business Costs,Environment and Natural Disasters, Foreign Equity and Professionals, Governance,Judicial System, Labor, Legislation, Local Government, Macroeconomic Policy,Security and last but not the least, Social Services including Poverty, Education, andHealth and Population. These were all assessed in the Second Anniversary ArangkadaAssessment, which I invite everyone to read. You will find among these critical factors many of the reasons why investment— most especially foreign investment—remains low in the Philippine economy and thusis not contributing sufficiently to job creation and inclusive growth.