Good morning everyone.
Ease of doing business should be strictly implemented if we
In this topic, I will present to you the 10 Point Socio Economic
Agenda of the present administration of our President
Rudrigo Duterte. We will also assess the extent of realization
of each item of the agenda.
According to Socio-economic Planning Secretary Ernesto
Pernia, it is not only a 10 point agenda but it’s a zero to 10
point socio economic agenda. The zero is precisely peace and
order. Fighting criminality, fighting smuggling, and promoting
peace and order. And that’s because zero is the origin of 1 to
10-point socio economic agenda. It is the bedrock that has to
be addressed and this is what the President had been harping
on during the campaign as well as now.
President Duterte is addressing that main bedrock of the 10-
point socio economic agenda so that the agenda will be
materialize. If this bedrock will not be destroyed then the it
will be difficult for the economy to thrive and flourish and for
the country to prosper.
The first agenda is ….
As they say, we have to give credit where credit is due. We
cannot deny that the Aquino administration has instituted
sounds economic policies which made it possible for the next
administration to enherit a booming economy with a stable
fiscal position, healthy current account surpluses, and
abundant international reserves.
It is logical to continue and maintain the current
macroeconomic policies, which have brought about robust
economic growth.
Given these, we also need to make the growth inclusive so
that marginalized Filipinos can feel the effects of this
economic growth.
According to President Duterte, when he was given the
mandate to lead the country, he was also given the
responsibility of reducing poverty of providing decent jobs, of
making sure that Filipinos will have on their tables to feed
their families at the end of the day.
The second agenda is …
More than any other policy, a tax reform package should
have been given top priority and serious attention.
While the tax system has been progressive in scope, tax
bracket should have been lowered to provide relief because
real income has already depreciated through the years.
Existing tax structures, policies and laws were implemented
about 20 years ago, when the value of the peso against the
US dollar was still P15 to $1 and the minimum wage was
approximately P200.
Back then, an annual income above P500,000 was exclusive
to top executives of companies. It is about time adjustments
are made, since average earners now fall under this income
category. Moreover, the value of the peso vis-a-vis the US
dollar has multiplied by three-folds
The third is…
The main hurdle encountered by prospective investors is
dominant red tape in agencies directly under the wing of the
Department of Trade.
are to attract foreign investors to our economy.
Added to the fact that foreign ownerships on some restricted
investments like infant and retail industries should be fully
encouraged.
Economic protectionism should be relaxed.
The fourth agenda is…
To accelerate local growth of the economy, the government
should take the lead in spending at least 5 percent of the
GDP.
Besides infrastructure spending, a greater percentage of local
employment can generated from government spending.
The fifth agenda is…
Investment spending should be dispersed in the countryside.
This is an area not effectively reached by previous
administrations. Incentives and subsidies should be in the
offing relative to our desire to attract investors to farther
provinces. This sits next to the country's objective of
encouraging people to settle and go back to hometowns
consistent to declog the urban centers and find jobs for
unemployed workers outside it.
The sixth agenda is …
To increase foreign and local investment facilities as
contributory to growth, security of land tenure should be
given due recourse. Security of tenure should be consistent
and land management bottlenecks should be properly
addressed as a mechanism to attract investments
The next agenda is…
True to his campaign promise, Duterte's marching order
before he formally took office was to to give topmost priority
to education and health. Investment in human capital should
also be high to provide competitiveness in areas of
employment and human development.
Research on science and technology has always been an
overlooked area of development resulting in a shortage of
innovation. Unless we take a serious stand in the field of
science and technology, the country's workers will remain
mediocre alongside their foreign counterparts.
Although social programs are already in place like the
Conditional Cash Transfer (CCT), it should provide a
mechanism that will gradually make them self-reliant and not
dependent on government subsidy. The government is doing
them a disservice if they will remain stuck and dependent to
government dole outs.
Responsible parenthood program has been in place for
decades but nothing significant has come out of this program
because of the lack of political will to implement it. With its
inclusion as one of the top priorities under Duterte, we
should expect a major stride toward trimming down the local
population.