U.S. Government, AmCham to Launch New Partnership to Enhance Philippines Business Climate

Manila, February 26, 2013 — The United States Government and the American Chamber of Commerce of the Philippines (AmCham) launched a new partnership today to further enhance the country’s business climate and sustain the economic gains achieved by the Aquino administration.  Funded by the U.S. Agency for International Development (USAID), The Arangkada Philippines Project (TAPP) implements the Joint Foreign Chambers of the Philippines’ recommendations to enhance the growth of key economic reform sectors and reforms under the U.S.-Philippines Partnership for Growth.

 The launch took place on February 26, 2013 at the Makati Shangri-La Hotel during AmCham’s Arangkada Philippines Second Anniversary Forum, which serves as one of TAPP’s annual highlights.

 Speaking at the event, U.S. Ambassador Harry K. Thomas Jr. said, “This partnership pursues the goal of the U.S.-Philippines Partnership for Growth to sustain broad-based and inclusive economic growth in the country.”

 TAPP advocates the implementation of nearly 500 recommendations to create $75 billion in foreign direct investments, 10 million new jobs, and $1 trillion in new tax revenues through rapid development of priority growth sectors — Agribusiness, Creative Industries, Manufacturing and Logistics, Infrastructure, Mining, and Tourism.

 AmCham President Rhicke Jennings welcomes this partnership as an opportunity to engage with the government and partners in the private sector to institute critical business and economic reform measures that will lead to greater investments and inclusive economic growth. “While we recognize the ongoing and considerable gains in terms of economic growth and reforms in governance, many challenges remain for the Philippines to realize its potential to become a middle income economy. Through The Arangkada Philippines Project, USAID and AmCham will work with government, private sector, and other stakeholders to accomplish the goal of high and inclusive growth,” Jennings said.

 U.S. Embassy Manila's USAID/Philippines Mission Director Gloria D. Steele explained, “We aim to enhance the growth of key economic reform sectors and further improve the investment climate in the Philippines."

 For more information, please visit http://www.arangkadaphilippines.com/forum.

Partnership for Growth – Philippines An Enhanced Engagement

The Philippine government and the United States government launched the Partnership for Growth (PFG) in 2011. This partnership mobilizes the resources of both governments to address the most serious constraints to economic growth and development in the Philippines. Through enhanced bilateral engagement, the PFG will assist the Philippines achieve the goal of moving from a low growth path to a higher, sustained and more inclusive growth trajectory in line with other high-performing emerging economies. Both governments plan to work together to accomplish this goal through the following objectives:

• Create a more transparent, predictable and consistent legal and regulatory regime in the Philippines, one that is less encumbered by corruption; 
• Foster a more open and competitive business environment with lower barriers to entry; 
• Strengthen the rule of law that is grounded on an efficient court system capable of delivering timely justice; and 
• Support fiscal stability through better revenue administration and expenditure management. 

In November 2011, U.S. Secretary of State Clinton (left) signed the Partnership for Growth compact with her Filipino counterpart, Foreign Affairs Secretary Alberto Del Rosario (right), and President Aquino (center).

This enhanced bilateral engagement involves 15 U.S. government agencies working with their Philippine counterparts to achieve the PFG objectives. The Philippines is one of only four countries chosen to participate in the PFG.

In Profile: Philippines Secretary of Finance, Cesar V. Purisima

Secretary Cesar V. Purisima of the Department of Finance (DOF) chairs the Cabinet Economic Clusters. The DOF is the lead Philippine government agency for the PFG. Previously, he served as Philippine Secretary of the Department of Trade and Industry in 2004. He also served as Chair and Member of the Board of many government companies including National Power Corporation, Land Bank of the Philippines, and Monetary Board of the Philippine Central Bank. 

Cesar V. Purisima, Secretary, Philippine Department of Finance

He has extensive work experience in public accounting in the Philippines and abroad. He was Chairman and Managing Partner of SGV & Co. until January 2004. He also has various memberships in several business organizations including the Management Association of the Philippines, Philippine Institute of Certified Public Accountants, Philippine-France Business Council, Philippine-Thailand Business Council and the Makati Business Club, among others.

PFG Technical Working Groups and Outreach Team Convene

The Fiscal Management Technical Working Group (TWG), co-chaired by the Philippine Department of Finance and the Millennium Challenge Corporation, met on June 21 to discuss ongoing and planned programs. The Regulatory Quality TWG, co-chaired by the Department of Trade and Industry and USAID, and the Rule of Law and Anti-Corruption TWG, co-chaired by the Philippine Department of Justice and USAID, also convened respectively on July 5. The Partnership For Growth Outreach Team, co-chaired by the Investor Relations Office of the Bangko Sentral ng Pilipinas and the U.S. Embassy Public Affairs Section, met on July 12 and focused on developing PFG local messaging, structuring the local communications strategy and forming a permanent team.