The Philippines’ bid to create a robust economy and society will encourage Filipinos to use their talent at home while being rewarded with high income.
International Chamber of Commerce of the Philippines (ICCP) chairman Francis Chua highlighted the need for job creation, education reforms and public-private collaboration to propel the country towards this ambitious goal.
Chua stressed the importance of providing quality jobs in the Philippines to discourage Filipinos from seeking employment overseas.
“I see many Filipinos going abroad. If they have good jobs here, why will they go abroad? We need people here if we are to achieve our goals,” Chua said.
He said creating a job-sufficient economy is crucial to retaining talent and fostering economic growth, asserting,
Chua outlined two critical strategies to achieve upper-middle-income status: education and public-private cooperation.
He said education should begin at home, instilling strong values and a work ethic from a young age.
He also called for increased collaboration between the public and private sectors, recognizing that every individual and entity plays a vital role in driving economic development.
Chua said the government’s primary function is not to directly provide for individuals but to enable their success through policies and infrastructure development.
He said citizens have a responsibility to contribute to the nation’s progress through hard work and tax payments.
Achieving upper-middle-income status would have far-reaching positive impacts on Philippine society and the economy, he said.
“A thriving economy would lead to more job opportunities, increased tax revenues, and improved living standards for all. Additionally, reducing brain drain would strengthen families and communities, leading to a more cohesive and prosperous society,” Chua said.
