The countryside plays a key role in alleviating poverty and achieving steady growth for the Philippines.

This was asserted by Resins, Inc. President and Federation of Philippine Industries Chairman Emeritus Meneleo J. Carlos, Jr. in his reaction to the presentations of various Cabinet officials of the new Aquino administration during the Philippine Mid-Year Economic Briefing last August 18, 2010 at the Dusit Hotel, Makati City.

“We believe that many of the job opportunities for poverty alleviation will be found in the countryside, among our idle farms, denuded forests and ideal waters,” Mr. Carlos stated, noting that if government focused on these opportunities, there could be “a steady growth of 7 to 8%” since this approach would be “a healthy combination of our human and natural resources.”

He said FPI was “happy” about the inclusion of agribusiness in the priorities plan of the DTI-BOI because this would create a strong linkage with basic sources of supply such as farmlands, forest lands, and aquatic resources.

This linkage would be “a good basis for forming an industrial strategy” since combining the products of the country’s natural resources and human resources would virtually ensure the global competitiveness of the resulting products, Mr. Carlos stressed.

Noting the adverse effects of climate change on the country’s agriculture and food supplies, he advised Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. to have his agent banks look more strongly towards lending to the agriculture sector, and to “advise why insufficient credit is flowing into this sector.”

Expressing their agreement with Mr. Carlos’ views on countryside development and agriculture were Jon Lindborg of the Asian Development Bank, who also gave his reaction during the briefing, and former DA Undersecretary Ernesto Ordonez at the open forum.

Mr. Carlos lauded the earlier presentation of National Economic Development Authority Director-General Cayetano W. Paderanga, Jr. for its “strong people orientation” as it centered on the “tao.” He also said that he joined Finance Sec. Cesar V. Purisima in congratulating Gov. Tetangco and his BSP team for providing an environment of low interest and inflation rates during the past few years for industry and labor to thrive. The Resins, Inc. president aired his hope that these rates could be reduced further to make the country even more competitive.

Also speaking at the briefing were Trade and Industry Secretary Gregory L. Domingo, Budget and Management Secretary Florencio B. Abad, Makati Business Club Chairman Ramon del Rosario, Jr., World Bank Senior Country Economist Dr. Eric Le Borgne.