Monday, July 21, 2025

PH small businesses to government: Increase budget for R&D, logistics, workforce upskilling

Philippine businesses are urging the government to increase the budget for research & development, market intelligence, improvement of supply chain efficiency, infrastructure, and accelerate investments in automation, logistics and workforce upskilling to become more cost competitive and viable amid shifting global market.

This was raised by the Philippine Chamber of Commerce and Industry (PCCI), known as the voice of Philippine business, as a proactive response to the latest tariff rates imposed by the Trump administration on various countries, including the Philippines which was slapped with an even higher 20 percent tariff rate.

“We respect the sovereign right of the US to implement a 20 percent increase in tariff on Philippine exports to the United States effective August 1, 2025. We are concerned however on the significant challenges this poses on the competitiveness of our industries with significant exports to the US market, industries that are within their value chain, and their workers,” said the PCCI statement signed by its president Enunina V. Mangio.

With the unilateral action by the Trump administration against its trading partners, PCCI said the Philippines should be proactive by responding to strengthen the competitiveness of domestic industries.

“We stand ready to work closely with our government agencies, exporters, and international partners to mitigate the impact of this tariff and to ensure that Philippine industries continue to thrive on the global stage,” PCCI said.

Aside from greater support for domestic industries’ capability and the reskilling of people, the PCCI also underscores the importance of diversifying the Philippine export markets and strengthening regional trade partnerships.

“We urge government to continue engaging with the US government to explore pathways toward a more equitable and sustainable trade relationship. We are hopeful that through a constructive dialogue, both governments will uphold a mutually beneficial trade relationship,” the statement added.

 

 

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