by: Sarah Joson
Wednesday, January 21, 2015 |
After the five-day visit of the Pope to the Philippines which affected some of the business operations in the country’s main economic hub, Manila, companies quickly went back to work. As business groups go about the daily grind, organizations identify the core areas for growth, especially since President Aquino’s six-year term will end next year.
For business process outsourcing (BPO), industry bodies expressed that priorities include keeping tax incentives, as well as holiday policies that will reduce additional holidays, particularly the ones with short notice. The IT and Business Processing Association of the Philippines (IBPAP) explained that events such as sudden holidays cost the industry as much as P70 million a day because companies would have to give employees additional holiday pay since they cannot stop their operations.
On the other hand, the Management Association of the Philippines said jobs should be the main priority in the country.
Ramon Del Rosario of the Makati Business Club recently pointed out that the priorities should be more on passing the Bangsamoro Law for peace and development in Mindanao. Another priority is passing the Freedom of Information Bill which aims to fight corruption by giving the citizens the upper hand and letting them demand and study government records. Del Rosario also mentioned relaxing foreign ownership restrictions to attract more investors leading to the production of jobs.
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