Home » Maritime » Shipping industry has high hopes for new government

THE local transportation industry is upbeat over the entry of a new administration, predicting high investor confidence especially if the final election results prove to be credible.

Preliminary results show Benigno “Noynoy” Aquino III leading by a wide margin in the presidential race. As of this writing, at least four presidential candidates — Senator Manny Villar, Gilbert Teodoro, Senator Richard Gordon, and John Carlos delos Reyes — have conceded defeat. Another contender, Nicanor Perlas, has said he did not expect to win but has yet to officially throw in the towel.

“The outcome of the elections is crucial to all businesses as it will define the country’s direction,” said Confederation of Truckers Association of the Philippines (CTAP) president Ruperto Bayucot told PortCalls.

“If the results are credible, they will really boost investor confidence and definitely increase business operations resulting in higher volume for us,” Bayucot said.

The Philippine Liner Shipping Association (PLSA), on the other hand, is banking on promises made by Aquino for a vibrant shipping industry.

Noynoy’s promise

PLSA executive director Joy Maitim told PortCalls Aquino promised to appoint key government officials based on integrity and competence.

“Noynoy promised to recognize enterprises for sustained productivity and to create conditions for growth of all business sizes and to build capacity,” Maitim added.

“If true to his promise, we expect a more vibrant economy fueled by business growth,” she said.

Among the benefits the industry expects from a change in power are better access to financing programs, increased transparency in government, improved incentive programs and higher investor confidence.

This year, both PLSA and CTAP are looking at a 10-15% volume growth on the back of the expected uptick in the global economy. The growth, however, only brings the sectors back to their 2009 performance.

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