Private sector told to invest in provinces » Manila Bulletin Business

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By Chino S. Leyco

The National Economic and Development Authority (NEDA) has called on the private sector to boost its activities especially in the provinces to promote the Duterte administration’s agenda of inclusive growth.

MB File- Socioeconomic Planning Secretary and NEDA Director- General Dr. Ernesto M. Pernia (Photo by Richard V. Viñas) | MANILA BULLETIN

In a statement, Socioeconomic Planning Secretary Ernesto M. Pernia said that the private sector is able to help the government by bringing in their innovation and expertise in carrying out public-private partnership projects.

“Our partners in the private sector play a big role in the development process and thus in realizing our vision for the country, the AmBisyon Natin 2040,” Pernia said at 8th Regional Development Council-Private Sector Representatives’ (RDC-PSR) National Convention in Panglao, Bohol.

“We need to start working outside of urban centers, however, and tap the potential of fringe regions,” he added.

AmBisyon Natin 2040 envisions Filipinos as enjoying a strongly rooted, comfortable, and secure life.

Pernia urged private partners to continue contributing to economic growth by creating jobs, promoting innovation, providing skills training, delivering quality health services, and providing additional infrastructure financing through public-private partnerships.

Meanwhile, Pernia stressed that the hallmark of the Duterte administration’s socioeconomic agenda is rural and regional development that will reduce poverty and inequality across the regions.

“This is why the new PDP 2017-2022 employs a National Spatial Strategy (NSS). The NSS describes geographic challenges, as well as opportunities for economic growth,” Pernia said.

The main strategies of the NSS are maximizing the benefits of scale and agglomeration economies, connecting settlements to form efficient networks, and making vulnerability reduction an integral part of development.

The theme for this year’s RDC-PSR Convention, which ran from June 21-23, is titled “Beyond 20/20: Defining the AmBisyon Natin 2040 Vision.” The Convention is held every year to strengthen the role of the private sector in regional development.

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