Economic leaders sa bansa, ibinida ang proyektong pang-ekonomiya ni PBBM
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00:00Some economic leaders in the country have forced successful programs under the administration of President Ferdinand R. Marcos, Jr.
00:09to boost the economy of the Philippines.
00:12Sujin Kim has the report. Rise and shine, Sujin.
00:192.5 million Filipinos have been reduced to the number of those in need under the administration of President Marcos, Jr.
00:26This is what Finance Secretary Ralph Recto said in a post-sauna discussion with other economic leaders in the country.
00:33This means that 10 million Filipinos are still striving to benefit from poverty and elevate the quality of life.
00:42The unemployment rate is the lowest, the underemployment rate is the lowest, more people are working, the middle class is growing.
00:51In the last two years of the administration of President Marcos, Jr., the Philippines recorded a growth rate of 6.1%.
00:59Recto said that the growth rate should be maintained in the 6-7% range to meet the 9% or single-digit poverty rate in the country.
01:07Special Advisor to the President for Investment and Economic Affairs, Frederick Goh, was appointed to help create more bills.
01:15According to Goh, these are fiscal incentives to increase foreign investments or FDIs.
01:21CreateMore also helped streamline VAT refund applications and simplify VAT provisions,
01:27while Public-Private Partnerships, or PPP, became key in funding flagship programs in infrastructure and energy.
01:36One-fourth of the flagship projects in the Build Better More program were supported by PPP, which already has 9 trillion investments.
01:44We've been working with the President and the Bureau of Customs.
01:47This is part of our tax administration efficiency as well.
01:52And as the President said, we have a target to finish all of this within the next two years.
01:55It is wise for government to use private sector balance sheet.
02:00We will be able to get efficiencies of the private sector.
02:03Recto explained that the Philippines is on track to meet its fiscal targets.
02:09In fact, half of the target revenue was collected in the mid-year.
02:13Budget and Management Secretary Mina Pangandaman thanked the departments for submitting their project and budget proposals worth 9.2 trillion pesos.
02:24We are happy to note that our Cabinet Secretaries or Department Secretaries are finally focusing and prioritizing their projects and programs.
02:34That's the big amount that they proposed.
02:36We thank them for carefully prioritizing their projects.
02:42Ms. Pangandaman was happy and appreciated the big reform in the fight against graft and corruption
02:48when the President signed the R.A. 12009 on Saturday for the new procurement method.
02:54It's the biggest anti-graft and corruption reform in our modern history.
03:01DBM assured that the cost and quality will be ideal for the buyers.
03:06Aside from this, the Green Procurement will be introduced soon.
03:10130 startups in Agritech, Fintech, Edutech are supported by the Department of Trade and Industry
03:17and it is expected that they will be given additional opportunities in their work.
03:21We need startups to promote innovation and adoption of technology in our economy in order to support the progress.
03:31The DTI is taking the lead in promoting startups.
03:36Secretary Pascual added that the reforms in the capital market and the so-called Green Lanes
03:41have given P3 trillion total investment in renewable energy, infrastructure, food security, and manufacturing.
03:49Which we can speed up the implementation of projects being done through our One Stop Action Center.
03:57We've been successful.
03:58In order to reduce the expenses of business owners under Executive Order 41,
04:04pass-through fees have been removed from national roads.
04:08LGUs are being urged not to collect fees from local roads.
04:12Next, the Anti-Red Tape Authority or ARTA was introduced.
04:16Undersecretary Genesis Abot said that more than 1,000 municipalities have been able to automate their business processes.
04:23The ease of doing business has been promoted.
04:27No less than the President mentioned and said this,
04:30that every government agencies and LGUs must promote the ease of doing business.
04:35When it comes to business registrations,
04:37even if it's only for half an hour,
04:40ARTA's target is to make it into 15 minutes by the end of the year.
04:46Sujin Kim for Pambansang TV in Bagong, Philippines.