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MANILA. President-elect Ferdinand ‘Bongbong” Marcos Jr. (proper) shakes fingers with Senate President Vicente Sotto III throughout his proclamation ceremony on the Home of Representatives, Quezon Metropolis, Philippines on Wednesday, Could 25, 2022. (AP)
Marcos Jr. mentioned the primary precedence of his administration is the economic system, noting that it was badly affected by the coronavirus illness (Covid-19) pandemic.
He reiterated that he’ll have interaction the personal and public sectors, in addition to the Filipino individuals in addressing these points.
RCEP
Marcos Jr. mentioned he’s nonetheless trying into the potential affect of the mega commerce deal Regional Complete Financial Partnership (RCEP), particularly within the agriculture sector, amid talks of its ratification.
“I have no idea if our agriculture sector is sufficiently sturdy to tackle the competitors that the opening of the markets will trigger, [by the] RCEP. So, let’s take a look at it once more and ensure na hindi naman malulugi ang ating agri sector ‘pagka ni-ratify na natin ‘yan, dapat handa na ‘yung sistema natin na makipag-compete,” he mentioned.
“Dahil kung hindi makapag-compete, masasapawan sila. Mawawala ‘yung mga native and panay na lang ang import natin. We don’t need that,” he added.
The newly elected president mentioned the federal government ought to increase the agriculture sector for meals manufacturing to ensure that the Filipinos to have adequate meals provide in case of any disaster.
“Pag-aralan natin mabuti that if we ratify it now, what would be the impact on the farming group, our farmers particularly they want safety and the way will it affect what our plans are to create a worth chain of agriculture,” he mentioned.
The Division of Commerce and Trade earlier mentioned it’s going to push for the ratification, earlier than the Senate, of the RCEP, a commerce settlement involving 10-member Asean states that embody China, India, Japan, South Korea, Australia, and New Zealand.
The RCEP goals to advertise larger openness, create a extra business-friendly setting, encourage nearer integration of economies, and supply a extra secure and predictable guidelines based mostly system of commerce.
Excise tax
Marcos Jr. mentioned they may look into different methods to handle growing worth of petroleum merchandise amid requires the suspension of assortment of excise tax to cushion the affect of the disaster on the affected sectors.
He famous that the federal government had no management in oil costs, as it’s the market that dictates the pattern.
Marcos mentioned suspending the excise tax assortment will lead to lack of earnings for the federal government, which is getting used to fund social companies packages.
“We are able to assist these areas na tinamaan kaagad ng pagtaas ng presyo ng langis. Primary, there may be transport. It is crucial as a result of transport goes to be important within the resurgence of the economic system,” he mentioned.
P20 per kilo of rice
Throughout the marketing campaign season, Marcos Jr. vowed to cut back the price of rice to P20 per kilo.
Marcos Jr. mentioned that is an aspiration, which will be performed by strengthening the worth chain or the collection of phases concerned in producing a services or products that’s offered to shoppers, with every state including to the worth of the services or products.
He mentioned he had already mentioned the matter with the merchants and urged them to placed on maintain the costs for a few months.
He mentioned they’re additionally taking a look at addressing considerations of farmers being too outdated and that they might not cope up with the growing applied sciences.
He mentioned the agriculture sector ought to transfer with time and be open to new methods and strategies.
“We want high-tech options and that can convey younger individuals in,” mentioned Marcos Jr.
Marcos Jr. mentioned his administration will increase the digitalization of the federal government.
He mentioned he may even strengthen assist to the micro, small and medium enterprises, recognizing its very important position in growing the Philippine economic system, in addition to in offering jobs to the individuals. (SunStar Philippines)
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