Duterte has indicated his want to build on the stellar achievements of the administration of outgoing president Benigno Aquino III, particularly the latter’s great governance initiatives and demanding structural reforms that transformed the Philippines from being “the sick guy of Asia” into “Asia’s rising tiger.” Of his ten-point socioeconomic agenda revealed on Monday, June twenty, for example, his first point was to carry on and preserve present macroeconomic policies, including fiscal, monetary and trade guidelines.
However, he intends to depart from Aquino’s legacy of instituting sluggish but regular macroeconomic reform by advancing an financial agenda which seeks to upgrade, speed up as well as broaden the government’s fundamental solutions that shall render the country’s macroeconomic environment much more conducive for your flourishing of businesses, influx of investments and carry out of seamless trade within the nation and the higher ASEAN area. Some megaprojects really worth anticipating consist of: (a) 3 significant railway methods, namely the Mindanao railway, Manila-Bicol railway, and Manila-Batangas railway; (b) Zamboanga Ecozone, Southern Mindanao Growth Corridor (General Santos development corridor and Davao Gulf Industrial corridor); and also the South Mindanao-North Sulawesi ro-ro link, among others.
Duterte intends to overcome the alleged structural dissonance between macroeconomic reform that has been the hallmark of Aquino’s “Daang Matuwid” program and concrete improvement of living circumstances and standards of Juan dela Cruz. In doing this, he has talked about pursuing the following: era of domestic jobs; increase of employment; abolition of contractualization; marketing of livelihood; agricultural modernization; and entrepreneurial, technological and industrial advancement with just taxation and equitable distribution of wealth whilst caring for the environment for sustainable improvement.
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