{"id":19460,"date":"2024-06-26T03:01:15","date_gmt":"2024-06-26T03:01:15","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/phl-urged-to-implement-smart-policies-to-achieve-double-digit-growth\/"},"modified":"2024-06-26T03:01:15","modified_gmt":"2024-06-26T03:01:15","slug":"phl-urged-to-implement-smart-policies-to-achieve-double-digit-growth","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/phl-urged-to-implement-smart-policies-to-achieve-double-digit-growth\/","title":{"rendered":"PHL urged to implement \u2018smart\u2019 policies to achieve double-digit growth"},"content":{"rendered":"
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THE PHILIPPINES should implement \u201csmart\u201d policies that address challenges in power, infrastructure and defense sectors in order to fuel double-digit economic growth, Denmark\u2019s ambassador to the Philippines said on Tuesday.<\/p>\n

In his keynote speech at the 45th<\/sup> National Conference of Employers on Tuesday, Ambassador Franz-Michael Skjold Mellbin said that he believes that the Philippine economy\u2019s baseline growth should be about 6-7% \u201cas long as the government does not do anything stupid.\u201d<\/p>\n

The government is targeting 6-7% gross domestic product (GDP) growth this year and 6.5-7.5% GDP expansion in 2025.<\/span><\/p>\n

Mr. Mellbin said some of the past governments have done things that \u201cwere less than admirable for [the Philippine] economy and its people.\u201d<\/p>\n

\u201cIf the government actually does smart stuf<\/span>f, if you get good policies, I believe that the Philippines could go double-digit, once or twice, during the next decade,\u201d he said.<\/p>\n

The ambassador said the Philippines is in a good position to take advantage of the opportunities brought by growth in the Asian region.<\/p>\n

\u201cThe scene is set for sustained economic growth in the Philippines, and let\u2019s make sure that happens,\u201d he added.<\/p>\n

However, the Philippines currently faces some key challenges that may hinder sustained growth in the coming years, Mr. Mellbin said.\u00a0<\/span><\/p>\n

\u201cAs you know, there are real challenges with power in this country. You have brownouts; millions of Filipinos don\u2019t even have access to power,\u201d he said. \u201cSo, there\u2019s no doubt that the Philippines needs more. It needs a<\/span>f<\/span>fordable and stable energy, as it will help the economy grow.\u201d<\/span><\/p>\n

The Danish envoy said that the Philippines should address power supply issues, if it wants to sustain its growth momentum.<\/p>\n

The Philippines should also improve infrastructure, he noted.<\/span><\/p>\n

\u201cYou need better infrastructure, and it\u2019s urgent, and fortunately the government knows,\u201d he said. \u201cIt is good that you have good people in leadership that are trying to make solid plans for expanding the infrastructure.\u201d <\/b><\/p>\n

The Marcos administration is currently implementing an infrastructure program called Build Better More, which is a continuation of the Duterte administration\u2019s Build, Build, Build infrastructure program.<\/p>\n

The government has currently identified 185 infrastructure f<\/span>lagship projects with an indicative total project cost of P9.55 trillion.<\/p>\n

Mr. Mellbin said the Philippines also has to address defense issues amid \u201cmuch more pertinent external threats.\u201d<\/p>\n

\u201cPressure from our Chinese friends is quite massive, and we do have very strong allies and friends, including Denmark, when it comes to this,\u201d he added.<\/p>\n

There are heightened tensions between the Philippines and China in the West Philippine Sea, especially after a clash that injured a Filipino soldier.<\/p>\n

Mr. Mellbin said that he recognizes that these three issues \u2014 power, infrastructure and defense \u2014 have no real fast f<\/span>ixes, adding the Philippines could explore consensus policies. He said that in Denmark, there is broad-based political consensus on what the country will do in these three areas in the next decade.<\/p>\n

He said that there is a need to convince the Philippine government to implement long-standing political consensus on these three areas.<\/p>\n

\u201cWhat you just need to make sure is that from this presidency to the next, they get these three areas right and make sure that they carry over,\u201d he added. \u2014 Justine Irish D. Tabile <\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

THE PHILIPPINES should implement \u201csmart\u201d policies that address challenges in power, infrastructure and defense sectors in order to fuel double-digit economic growth, Denmark\u2019s ambassador to the Philippines said on Tuesday. In his keynote speech at the 45th National Conference of Employers on Tuesday, Ambassador Franz-Michael Skjold Mellbin said that he believes that the Philippine economy\u2019s [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[6925,14644,16548,11413,2734,11354,10396,2144,2256],"class_list":["post-19460","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-achieve","tag-bworldonline","tag-double-digit","tag-growth","tag-implement","tag-phl","tag-policies","tag-smart","tag-urged"],"yoast_head":"\nPHL urged to implement \u2018smart\u2019 policies to achieve double-digit growth - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/phl-urged-to-implement-smart-policies-to-achieve-double-digit-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PHL urged to implement \u2018smart\u2019 policies to achieve double-digit growth - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"THE PHILIPPINES should implement \u201csmart\u201d policies that address challenges in power, infrastructure and defense sectors in order to fuel double-digit economic growth, Denmark\u2019s ambassador to the Philippines said on Tuesday. 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