1. Cluster Theme: Economic Development ChallengePolicy Action and Time Frame Role /Support of Stakeholders Low Investment Rate and Lagging Competitiveness 1.Promote Investment and Build Competitiveness Continue reducing the costs of doing business by making processes easier, faster and simpler through the implementation of Philippine Business Registry (PBR), National Single Window (NSW), Business Permits and Licensing Systems (BPLS) in local government units (LGUs), and addressing inconsistencies between national and local laws through Local Investment and Incentives Codes (LIIC). Strengthen property rights and land use policy through the passage of the National Land Use Bill and consolidate the functions of several land registration and administration agencies through the Land Administration Act (LAA). Remove barriers to investments by passing the Antitrust Act and strengthening enforcement, continuing to engage in free trade agreements (FTAs), and liberalizing restrictions to foreign ownership in economic sectors to create a level playing field for all firms. Promote small and medium enterprises particularly in the tourism and agribusiness sectors.  Explore creation of risk sharing/agri fund possibly linked to Agri-Agra Law  Scale up provision of shared services for equipment by economic cluster Recommendation No. 1 2013 PHILIPPINES DEVELOPMENT FORUM February 4-5, 2013 Marco Polo Hotel, Davao City

2. Cluster Theme: __Economic Development_______ Recommendation No. 2 2013 PHILIPPINES DEVELOPMENT FORUM February 4-5, 2013 Marco Polo Hotel, Davao City ChallengePolicy Action and Time Frame Role /Support of Stakeholders Fiscal Space Constraints 2.Responsible and Transparent Fiscal Management R aise the revenue-to-GDP ratio to create fiscal space to finance greater spending on priority social sectors and infrastructure (identified in the social contract) while maintaining a prudent budget deficit by completing reform of the BIR, modernizing the BOC including passage of the Customs Modernization Act, mining taxation reform, and rationalizing tax incentives including transparent reporting of tax expenditures. Enhance the efficiency and transparency of public spending to achieve more with less through proactive liability management and introduction of a treasury single account (TSA) in 2013, implementation of the government integrated financial management information system (GIFMIS) by 2015 and improved fiscal reporting, and a timely and transparent PPP program to crowd-in private investment while paying due regard to fiscal risks. DOF, BIR, BTR, DBM and BOC with support from other departments.

3. Cluster Theme: Economic Development Recommendation No. 3 (For Mindanao) 2013 PHILIPPINES DEVELOPMENT FORUM February 4-5, 2013 Marco Polo Hotel, Davao City ChallengePolicy Action and Time FrameRole /Support of Stakeholders Inadequate financial and technical support to Mindanao 3.Support Economic Development of Mindanao Provide basic infrastructure (e.g. transport, power and irrigation) in Mindanao and harness its potential through R&D in agriculture and agra-processing, development of trade and tourism, as well as maximizing the benefits of world-class mineral deposits through responsible mining that pays a fair share to the government and local communities. Provide financial and technical support to Mindanao to build revenue raising and administrative capacity to scale-up social and infrastructure spending in the region over the medium-term while providing an immediate support program to combatants and those affected by the conflict to achieve a peace dividend. Address potential impediments to local investment such as the need for counterpart funds by LGU with revenue constraints as well as linking investments to sectoral and national strategies.