The National Capital Region remains the center of the country's economy, as development initiatives of the private and public sectors will take time to have a profound impact and alter the balance.
Philippine Chamber of Commerce and Industry (PCCI)-NCR vice president and 2024 Metro Manila Business Conference chairman Hernando Delizo said Metro Manila will remain the center of economic activities over the next ten years despite the government's push for countryside development.
"I still see it (as the country's economic hub) in the next ten years, I suppose, because these developments, while nice to hear, will take time," Delizo said in a press conference at Casa de Polo, Valenzuela City.
"Infrastructure development is a bit challenging, especially with the rising cost of materials and workforce. We also support that, but depopulating Metro Manila is not easy," he added.
The government has been promoting the New Clark City in Central Luzon as an alternative to Metro Manila, tagging the former as the country's first smart, green, and resilient metropolis.
With the upcoming rehabilitation of the country's main gateway, the Ninoy Aquino International Airport (NAIA), airlines are expected to temporarily transfer their flights to Clark International Airport. The proposed Bulacan International Airport also aims to decongest NAIA.
There are also ongoing initiatives to promote different parts of the country as new investment hubs.
Delizo said that despite various efforts to bring economic activities to other parts of the country, Metro Manila will "evolve itself to something better" and sustain its growth "on a different scale."
"We are evolving, we are adaptable, we are resilient people," he said.
However, to sustain the growth and the economic role of NCR in the country, the government, especially Metro Manila mayors, has to address critical challenges that the business group identified as bottlenecks to growth.
These challenges include ease of doing business, traffic problems that exacerbate logistics costs, high power rates, and environmental issues.
The PCCI-NCR aims to address these challenges to local government units (LGUs) in Metro Manila through a resolution that will be passed by the business group in their upcoming 2024 Metro Manila Business Conference at The Manila Hotel on Aug. 21 to 22, with the theme "Integrating Trade, Technology, and Tourism for Sustainable Economic Transformation."
Delizo said that regarding ease of business, Metro Manila enterprises urged NCR mayors to have uniform business taxes and to make business taxes transparent by disclosing the rate to the public.
A shorter workweek can also solve the traffic woes, and he said Metro Manila businesses are open to a four-day workweek to ease traffic congestion.
The executive said that making the metropolis pedestrian-friendly would also help decongest traffic. Delizo added that the national government should also encourage investments in power to increase capacity and lower electricity rates.
Metro Manila mayors were also encouraged to promote sustainability by implementing policies addressing environmental issues in NCR.
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