rAPPLER When the Association of Southeast Asian Nations (ASEAN) starts moving toward a single economy by end-2015, Philippine conglomerates will be ready, but not the agricultural sector, which executives say will have a tough time dealing with the changes. Lower prices of goods would benefit consumers but could harm certain sectors such as farmers and entrepreneurs. If sugar and rice from Indonesia is cheaper and sold in the Philippines, [local] farmers would suffer. This is something that should be addressed seriously because these are the sources of social unrest, said Jollibee Foods Corporation chief financial officer Ysmael Baysa. Some say regional integration is a double-edged sword for the Philippines, given the need to put in place institutional reforms that will make Philippine business and sectors competitive in the regional economy.
Posted on: Fri, 08 Aug 2014 06:07:25 +0000
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