Former FCCP Chairman Philip Chien providing the event’s welcoming remarks
Foreign Chamber Council of the Philippines (FCCP) conducted a forum titled “A more competitive Philippines under the Duterte Presidency” with Presidential Legal Chief Salvador Panelo as keynote speaker.
Former FCCP Chairman, Mr. Philip Chien, gave the welcome remarks for the event. He emphasized the need to communicate and understand the direction of the new administration. Providing a clear direction for the country would ease FCCP’s effort in promoting the Philippines as suitable investment destination to its members’ respective mother country. Incumbent FCCP Chairman, Mr. Abdulgani Macatoman followed with the formal introduction of Chief Panelo.
In his keynote address, the veteran lawyer spoke lengthily on how he was able to press the former Davao City Mayor Rodrigo Duterte into running for the presidency. He stressed on the country’s need for change in its system of governance in order to achieve economic development. In spite of the maverick personality of the president, Chief Panelo believes he is what the country needs right now.
An open forum was conducted shortly after his speech. In this segment, the chief presidential counsel further delved into subjects that concerns members of the FCCP. On the issue of easing the foreign ownership, he agreed that the country needs to have a more open economy. As such, the current administration will push for a 60% foreign and 40% Filipino ownership. The administration will also work towards improving transparency in the BIR, particularly with the execution of the bureau’s letters of audit. Furthermore, Chief Panelo opened the Office of the Presidential Legal Counsel for the concerns of the FCCP or its members. This is on top of the national “8888” complaint hotline of the Office of the President.