Cooperation, partnerships with other countries to boost PH economy — Romualdez

FILE PHOTO: Speaker Ferdinand Martin G. Romualdez.

MANILA, Philippines —  Partnerships and corporations with neighboring countries would sustain and boost the nation’s economic growth, as well as generate more jobs for Filipinos, according to House Speaker Ferdinand Martin Romualdez.

Romualdez issued the statement on Sunday following reports that the unemployment rate nationwide rose to 4.5 percent in June with approximately 2.33 million locals looking for jobs.

He added that the number of jobseekers increased by 159,000 from 2.17 million in May but decreased by  663,000 or six percent compared to the same period last year.

“Our parliamentarians are key to enhancing economic growth, financial stability, and social inclusion, and in addressing poverty and promoting institutional stability.  Legislative actions can facilitate access to markets, and improve resource allocation and regional productivity,” Romualdez, who led the Philippine delegation to the 44th ASEAN Inter-Parliamentary Assembly (AIPA) general assembly in Indonesia, said.

The lawmaker claimed that these partnerships would likewise increase the country’s tourist arrivals and generate more tourism-based jobs for Filipinos.

Among the cooperation initiatives he mentioned is the Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA), which he said aims to “spur development in remote and less developed areas in the four participating Southeast Asian countries.”

“With our country’s diverse cultural and natural attractions, we stand to benefit from the realization of the BIMP-EAGA Vision 2025. Among others, this could help us attract more tourists from neighboring countries, leading to increased revenue in the tourism industry and providing jobs and livelihood to our people,” Romualdez said.

During the AIPA, Romualdez called for the holding of the first BIMP-EAGA Parliamentary Forum or BEPF in 2024 in Davao City “to incorporate policy-making in BIMP-EAGA affairs.”

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JPV