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Good morning everyone.

Ease of doing business should be strictly implemented if we


are to attract foreign investors to our economy.
In this topic, I will present to you the 10 Point Socio Economic
Agenda of the present administration of our President Added to the fact that foreign ownerships on some restricted
Rudrigo Duterte. We will also assess the extent of realization investments like infant and retail industries should be fully
of each item of the agenda. encouraged.

According to Socio-economic Planning Secretary Ernesto Economic protectionism should be relaxed.


Pernia, it is not only a 10 point agenda but it’s a zero to 10
point socio economic agenda. The zero is precisely peace and The fourth agenda is…
order. Fighting criminality, fighting smuggling, and promoting To accelerate local growth of the economy, the government
peace and order. And that’s because zero is the origin of 1 to should take the lead in spending at least 5 percent of the
10-point socio economic agenda. It is the bedrock that has to GDP.
be addressed and this is what the President had been harping
on during the campaign as well as now. Besides infrastructure spending, a greater percentage of local
employment can generated from government spending.
President Duterte is addressing that main bedrock of the 10-
point socio economic agenda so that the agenda will be
materialize. If this bedrock will not be destroyed then the it
will be difficult for the economy to thrive and flourish and for The fifth agenda is…
the country to prosper. Investment spending should be dispersed in the countryside.
This is an area not effectively reached by previous
The first agenda is ….
administrations. Incentives and subsidies should be in the
As they say, we have to give credit where credit is due. We offing relative to our desire to attract investors to farther
cannot deny that the Aquino administration has instituted provinces. This sits next to the country's objective of
sounds economic policies which made it possible for the next encouraging people to settle and go back to hometowns
administration to enherit a booming economy with a stable consistent to declog the urban centers and find jobs for
fiscal position, healthy current account surpluses, and unemployed workers outside it.
abundant international reserves.
The sixth agenda is …
It is logical to continue and maintain the current
macroeconomic policies, which have brought about robust To increase foreign and local investment facilities as
economic growth. contributory to growth, security of land tenure should be
given due recourse. Security of tenure should be consistent
Given these, we also need to make the growth inclusive so and land management bottlenecks should be properly
that marginalized Filipinos can feel the effects of this addressed as a mechanism to attract investments
economic growth.
The next agenda is…
According to President Duterte, when he was given the
mandate to lead the country, he was also given the True to his campaign promise, Duterte's marching order
responsibility of reducing poverty of providing decent jobs, of before he formally took office was to to give topmost priority
making sure that Filipinos will have on their tables to feed to education and health. Investment in human capital should
their families at the end of the day. also be high to provide competitiveness in areas of
employment and human development.
The second agenda is …
Research on science and technology has always been an
More than any other policy, a tax reform package should overlooked area of development resulting in a shortage of
have been given top priority and serious attention. innovation. Unless we take a serious stand in the field of
science and technology, the country's workers will remain
While the tax system has been progressive in scope, tax
mediocre alongside their foreign counterparts.
bracket should have been lowered to provide relief because
real income has already depreciated through the years. Although social programs are already in place like the
Existing tax structures, policies and laws were implemented Conditional Cash Transfer (CCT), it should provide a
about 20 years ago, when the value of the peso against the mechanism that will gradually make them self-reliant and not
US dollar was still P15 to $1 and the minimum wage was dependent on government subsidy. The government is doing
approximately P200. them a disservice if they will remain stuck and dependent to
government dole outs.
Back then, an annual income above P500,000 was exclusive
to top executives of companies. It is about time adjustments Responsible parenthood program has been in place for
are made, since average earners now fall under this income decades but nothing significant has come out of this program
category. Moreover, the value of the peso vis-a-vis the US because of the lack of political will to implement it. With its
dollar has multiplied by three-folds inclusion as one of the top priorities under Duterte, we
should expect a major stride toward trimming down the local
The third is… population.
The main hurdle encountered by prospective investors is
dominant red tape in agencies directly under the wing of the
Department of Trade.