'Overlapping nat'l, local laws a deterrent to investments'
MANILA, Philippines - Overlapping of national laws and local ordinances is one of the main deterrents to investments in the Philippines, according to the Philippine Chamber of Commerce and Industry (PCCI).
PCCI, in a dialogue with representatives of the United States Agency for International Development (USAID), said mining and power generation companies have experienced problems with the inconsistencies between national laws and local ordinances.
In a statement, PCCI president Miguel Varela said the Philippines urgently needs investments in mining, power and PPP in infrastructure to address the growing demands of the economy and boost the country's competitiveness.
The PCCI also criticized the high electricity rates, insufficient power supply and lack of infrastructure linking the country.
USAID Assistant Administrator Eric Postel, who is currently visiting the country, has been meeting with stakeholders to discuss trade, investment and competitiveness issues.
"USAID would like to give its deepest thanks to PCCI for all the partnership projects we had for more than a decade. We are here to request you to let us know the key challenges and priorities that PCCI would want USAID to assist you on," Postel said.