Following Monday's barangay and SK elections, the business sector is hoping for the barangays' support in spurring economic development, being the smallest but most crucial unit in the society.
Mandaue Chamber of Commerce and Industry vice president for external affairs Steven Yu said the relationship between the barangay and the business community has become more vital now.
"The interlink between business and barangay level governance has never been more relevant and dynamic than now," Yu told The FREEMAN in a phone interview yesterday.
The MCCI official believes there is now more "active participation of barangay officials in community development and regulation."
The business sector is hoping that community development particularly when it comes to ease of doing business will further be enhanced.
"So far, we have not received any feedback of major confrontation between barangay and business," Yu pointed out.
The chamber official expressed optimism that newly elected barangay officials will work to contribute to economic development.
"It has so far been a harmonious coexistence and progression of development. If there are issues, the LGU (local government unit) is always there to mediate and settle amicably. We are optimistic with the outcome of the barangay elections," Yu said.
In a previous study on local service delivery by the Philippine Institute for Development Studies (PIDS) and the United Nations Children’s Fund (UNICEF), they found out that barangays are missing the development opportunity to practice fiscal governance and good financial management.
"Why and how? Because they are not efficiently and effectively spending their limited funds for programs, activities, and projects (PAPs) with high economic development impact," the study said.
The study had proposed measures on how barangays can be more effective in spending their limited funds in order to harness the economic capabilities of their communities and entrepreneurial spirit of their people for development outcomes.
The PIDS study noted that barangays can create an environment conducive to business development and can promote a vibrant economic tempo so that their constituents will be inspired to participate actively.
Barangays should also not rely on IRA (Internal Revenue Allotment) and instead become financially independent.

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