Published October 19, 2022, 12:05 AM
The 48TH Philippine Business Conference (PBC) happening today at the Manila Hotel will go down in history as one of the most anticipated if not one the most eventful business gathering in the country.
With the theme “The Philippines is Ready and Open for Business,” the two-day 48th PBC & Expo aptly describes the readiness of the business community to fully open up and do business after two years of intermittent hard lockdowns due to the Covid-19 pandemic.
The 48th PBC will not only be historical as it is the first full face-to-face conference after the pandemic, but will also be the first PBC for President Ferdinand Marcos, Jr., whose father Marcos, Sr. had made the annual PBC his staging ground for some of his economic and business pronouncements during his presidency.
This time, Marcos, Jr. will address the business community and respond to the PBC resolutions on a wide array of issues.
The 48th PBC Resolutions already submitted in advance to Malacañang cover a wide range of issues from achieving food security, transparent and affordable health care, employment generation, globally-competitive education and training standards, strengthened national security, reliable and competitive digitalization, climate change resilient and environmental-friendly policies, affordable power, safe and efficient transportation, and an outward and forward-looking trade policy.
Businessmen will be all ears.
Ferdinand “Perry” Ferrer, 48th PBC&E chairman, noted that this will be Marcos’ first PBC appearance following his overwhelming win in the May 2022 national elections.
The business community is excited to hear the President’s vision and programs to steer the country toward a higher growth trajectory. The private sector will be the government’s partner in achieving this vision.
The previous administration has laid down the groundwork to attract more foreign direct investment with the amendment of important legislation such as the Public Service Act, the Foreign Investment Act, and the Retail Trade Liberalization Act.
The country is set to benefit from the capital, technology, and greater competition these reforms will bring in the form of more jobs and better products and services.
Reform measures such as the Ease of Doing Business Act and the Corporate Recovery and Tax Incentives for Enterprises Act likewise support the expansion of domestic enterprises and recovery from two years of lost opportunities.
The 48th PBC&E will be looking at how the new government will build on these reform measures to make a real difference to the economy going forward.
The Philippine Chamber of Commerce and Industry (PCCI), the host of the annual PBC, has also organized huge business delegations from countries like the USA, Sri Lanka, Pakistan, and Japan to attend the conference.
These foreign delegations are set to explore business opportunities and joint ventures in a business-to-business session with Filipino businessmen.
PCCI has also lined up an exciting series of plenary sessions.
As customary, the PBC will start with the opening keynote message from Vice President Sara Duterte.
Finance Secretary Benjamin Diokno will make a keynote presentation to set the tone of the conference, followed by a fireside chat with Secretary Arsenio Balisacan of the National Economic Development Authority and interesting discussions with some of the country’s top executives to highlight the business prospects and priorities of the new administration.
A session featuring United States Ambassador Marykay Carlson and Chinese Ambassador Huang Xilian will focus on building strategic alliances to create new markets and attract more investments.
For all the businessmen in the country, this year’s PBC is the best time to renew contacts, build networks, and make moves to surmount difficulties amid economic challenges.
