Introduction of Panel 3: General Business Environment By Mr.

Edward Eun Gap Chang President, Korean Chamber of Commerce of the Philippines President and CEO, Asia Paciifc Express Corporation Good Afternoon Ladies and Gentlemen: I am Edward Eun-Gap Chang, President of the Korean Chamber of Commerce. Our chamber is a private organization of Korean Businesses in the Philippines who are very keen on this countrys General Business Environment. We have listened to informative presentations by senior and former government officials and two panels of experts discussing four of the Big Winner Sectors and Infrastructure. Now I hope we are to tackle another major topic, the General Business Environment. The JFC recommendations in Arangkada for the Big Winner Sectors are inadequate without a sound foundation. This foundation includes 11 categories of critical factors that contribute to a good business environment namely: Business Costs, Environment and Natural Disasters, Foreign Equity and Professionals, Governance, Judicial System, Labor, Legislation, Local Government, Macroeconomic Policy, Security and last but not the least, Social Services including Poverty, Education, and Health and Population. These were all assessed in the Second Anniversary Arangkada Assessment, which I invite everyone to read. You will find among these critical factors many of the reasons why investment most especially foreign investmentremains low in the Philippine economy and thus is not contributing sufficiently to job creation and inclusive growth.

The Arangkada Philippines Project (TAPP)

www.arangkadaphilippines.com

Since we do not have time to discuss all 11 sectors included in the General Business Environment, we have only included five of the most important in todays panel. John D. Forbes, Senior Advisor for The Arangkada Philippines Project will discuss Business Costs. John wrote and assessed this section in Arangkada. Heidi Mendoza, commissioner of the Commission on Audit, knows a lot about how to stop corruption. She will discuss Governance. Baby Nuesa, who heads the Judicial Reform Initiative supported by several leading domestic business groups and foreign chambers, will discuss the Judicial sector. Ken Yang, President and CEO of Golden Arches Development Corporation, will discuss education. Dr. Jaime Galvez Tan, president of Health Futures Foudnation and a former Health Secretary, will discuss Social Services, with an emphasis on Health. The moderator for Panel 3 is Ms. Lala Rimando, a veteran journalist and finance expert from Rappler. Before the panel discussion begins I would like to show a five minute video entitled Invest Philippines produced by the National Competitivness Council. This promotional marketing video does not give hard information to investors, but it shows us what the country could look like if it can Realize its Potential. Lets watch the video.

www.arangkadaphilippines.com

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