Former Defense Secretary Gilberto (GIBO) Teodoro, Jr. said that a key factor that must be realized to boost private business investments in the country is to build a bureaucracy that will help the private sector to innovate.
He said that the government regulators must have “Its feet and ears on the ground and think ahead rather than stifle them and be always on the lookout for wrongdoings.”
Gibo Teodoro, a 2022 senatorial candidate, has vast experience in the private sector in various highly regulated industries. He said among the problems of private industries growth is the overzealous application of best practices and necessary institutional memory due to administrators’ turnover. These he said must be reformed.
Gibo Teodoro, a former Tarlac congressman, said there is a need to build a bureaucracy that is a vital link to business development and growth. Like manner, he acknowledges that a necessary function of the regulators is to be on the lookout for wrongdoings or abuses on the part of the private sector.
