| |
| Foreigners complain of Aquino's mining 'policy' |
| 03-SEP-2010 | The Manila Times |
|
| 3 Sep, 2010 - 7:00:00 AM |
|
|
LOOSE ends in the Aquino administration's mining policy is unsettling the investor community at a time when the government is courting private sector support for the Philippines' infrastructure development in the next six years. "Foreign investors seek a clear message from the government to the investment community that the administration supports responsible mining in accordance with the current Mining Act," the group said in a statement on Wednesday.
The foreign chambers said three recent developments—the Supreme Court's issuance of the "Writ of Kalikasan," the ban on open pit mining in South Cotabato, and proposals to repeal the Philippine Mining Act of 1995—"are causing serious concerns within the foreign investment community about the country's ability to move forward with a healthy, reliable and transparent mining industry policy."
Promulgated by the Supreme Court early this year, the Writ of Kalikasan provides a set of remedies that individuals or groups can resort to in the face of violations to their right to a healthy and balanced environment.
The previous provincial government imposed South Cotabato's ban on open pit mining in the exercise of its prerogative under the Local government Code.
The foreign chambers said the Mining Act "is at par with best international practice," hence "it does not need to be repealed or reviewed, but rather be strictly enforced."
"[The foreign chambers encourage] strict supervision and implementation of the Mining Act for all operators alike to ensure a policy of responsible mining that will result in substantial socio-economic benefits for the Philippines," the group said.
Mining is among the foreign chambers' "seven big winners"—industries expected to generate about $75 billion in foreign direct investment (FDI) as well as 10 million jobs in the coming decade.
The six other sectors are agri-business; business process outsourcing (BPO); creative industries; infrastructure; manufacturing and logistics; and tourism, medical travel and retirement.
The group brings together the American Chamber of Commerce of the Philippines; the Australian-New Zealand Chamber of Commerce of the Philippines; the Canadian Chamber of Commerce of the Philippines; the European Chamber of Commerce of the Philippines; the Japanese Chamber of Commerce and Industry of the Philippines; the Korean Chamber of Commerce of the Philippines; and the Philippine Association of Multinational Companies Regional Headquarters Inc.
Given the government's fiscal straits, President Benigno Aquino 3rd plans to tap the private sector in a bid to improve the country's infrastructure. The so-called public-private partnership (PPP) scheme is his administration's key policy in bankrolling infrastructure development.
|
|
|
|
