E.	Public and Private Sector Needs for EAGA’s Development Human Resource Factor:

Ü	Private Sector Needs for EAGA’s Development Mr. Timothy Ong

Ü	Agribusiness Management Development in the Present Philippine Context Manuel Q. Lim, Jr.

PRIVATE SECTOR NEEDS FOR EAGA’S DEVELOPMENT* Mr.Timothy Ong, Adviser of the Brunei Darussalam International Chamber of Commerce and Industry As far as the private sector is concerned, the Brunei, Indonesia, Malaysia, Philippines East ASEAN Growth Area (BIMP-EAGA) is not yet a reality. BIMP-EAGA is not yet in existence. For the initiative to be made a reality, there is a need for the subgroup initiative to identify what it has to offer to attract investment from the private sector. While human resource development as a strategy is vital, it has to be integrated with economic strategy. Each country should review their economic strategy and, in the process, aim for certain degrees of preparedness to cater to private sector initiatives. This they have to do with their national interests, policy structure and capability levels in consideration. For one, governments should define or redefine national interests, what they really are individually and as part of the subgroup initiative. How do they envision to promote these interests? Second, they should allow for a free flow of goods and services. This means that they need to examine their existing policies and check for impediments. Lastly, these countries should invest in hard and soft infrastructures. Attracting private investors entails capability offerings in terms of availability of required infrastructures. * Notes from the impromptu speech of Mr. Timothy Ong, Adviser of the Brunei Darussalam International Chamber of Commerce and Industry, during the Seminar on Human Resource Development in EAGA: R ole of Institutions of Higher Education and Research on 23 October 1996.