One of the key topics of the Center for Research and Communication’s (CRC) Series of Economic Fora included the “Arts, Entertainment, and Advertising to Steer Philippine Economy.” Done in collaboration with the Philippine Department of the Interior and Local Government (DILG), Konrad-Adenauer-Stiftung Philippines Office, Censei, the DAP Graduate School of Public and Development Management, PSPA (Philippine Society for Public Administration), and Blueprint.PH, the 5th webinar in the series highlighted the importance of bringing in investors, particularly Foreign Direct Investors or FDIs to develop better digital tools, resulting to better quality and reach of Filipino art, particularly in the field of media and entertainment.
Held last July 9, 2021, speakers Ms. Ella Kristina D. Coronel, Blueprint.PH Research Director and Mr. John Forbes, American Chamber of Commerce of the Philippines Senior Advisor, shared how investments of FDIs need not be monetary in value but can come in other forms. One example would be for FDIs to help provide better digital platforms. Doing so will greatly help Filipino creatives with their craft to produce quality content and widen the global scope of Filipino works.
In addition, Dr. Bernardo Villegas, a surprise guest speaker at the forum, emphasized bringing the Philippines to the Fourth industrial revolution (Industry 4.0) through the help of digitalization powered by telecommunication where he specifically talked about improving the country’s internet connection. Dr. Villegas also reiterated that these three industries – information technology, telecom and media are all correlated and will eventually merge as one super-industry. A domino effect will ensue as improving the country’s IT and telecom will directly and indirectly result in leveling up the value of Philippine art and media.
Having said this, attracting Foreign Direct Investors is part of the key that will jumpstart the Philippines’ journey to becoming part of the Fourth industrial revolution. Therefore, a partnership with CRC can be greatly beneficial to FDIs looking to invest in the Philippines. CRC has proven itself to be the premiere consultancy group on Public Service Law as can be seen with its extensive partnership with the DILG, and other Local Government Units. As mentioned earlier, the series of economic fora focused on topics relevant to investors, particularly the value of easing restrictions on foreign investors. These include Labor, MSMEs, Public Utilities (Telecomm, Energy, and Electricity), Advertising/ Entertainment, and General Topics.”
The success of the economic fora and CRC’s collaboration with DILG showcases the consultancy firm’s track record as experts in matters pertaining to the Public Service Law. Now made easier and more beneficial to FDIs, the Public Service Law allows up to 100 percent foreign ownership in sectors considered as public services, mainly industries such as telecommunications, railways, expressways, airports, and shipping industries just to name a few. This makes the country more attractive to FDIs now more than ever. And you, as an investor should grab this opportunity to partner with CRC for a seamless, convenient and customized process and imprint your legacy as you help boost the Philippines’ growth in the coming years. Interested to know more? Get in touch with us at +639054280727 or email [email protected].
- CRC Staff. “Will the Philippines’ digital economy benefit from reforms encouraging Foreign Direct Investments?”, Center for Research and Communication, 101 July 2021: Will the Philippines’ digital economy benefit from reforms encouraging Foreign Direct Investments? – CRC – Center for Research and Communication (uap.asia)
- CRC Staff. “An Emerging Super-Sector: How Information Technology and Telecommunications are Key to the Future of Filipino Creatives”. Center for Research and Communication, 16 July 2021: An Emerging Super-Sector: How Information Technology and Telecommunications are Key to the Future of Filipino Creatives – CRC – Center for Research and Communication (uap.asia)
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