SEVERAL business groups and foreign chambers urged the 18th Congress to pass 17 priority measures seen to boost the economy during its final session year.
In a joint statement on Wednesday, eight Philippine business groups and seven members of the Joint Foreign Chambers said the pending reforms will bolster the country’s bid to economic recovery amid the pandemic.
“With one year left in the current Congress, we believe the 17 measures are achievable reforms that will generate substantial impact in achieving our shared vision of inclusive growth through job generation, poverty reduction, and global competitiveness,” the joint letter read.
These include amendments to the Foreign Investments Act, Public Service Act and Retail Trade Liberalization Act. President Duterte certified the bills as urgent in April.
This list further cites the Department of Disaster Resilience and Department of Water Resources Management, ease of paying taxes, electric vehicles and charging stations and National Land Use and Management.
The business groups also called for the passage of measures on Freedom of Information, Open Access in Data Transmission, Philippine creative industries, promotion of digital payments and public-private partnership.
On the banking and finance side, the private sector organizations sought the passage of the Rural Agricultural and Fisheries Development Financing System and amendments to Secrecy of Bank Deposits Law. The business groups, in addition, urged Congress to pass the remaining tax reform packages which cover property valuation and assessment reform; and passive income and financial intermediary taxation.
The business groups noted that most of these bills are in advanced stages in Congress already, requiring action in either the House or Senate.
The private sector organizations sent the letter to President Duterte in anticipation of his last State of the Nation Address this month. A copy was also sent to Senate President Vicente C. Sotto III and House Speaker Lord Allan Q. Velasco.
The signatories include Alyansa Agrikultura, American Chamber of Commerce of the Philippines, Australian-New Zealand Chamber of Commerce of the Philippines, Bankers Association of the Philippines, Canadian Chamber of Commerce of the Philippines, European Chamber of Commerce of the Philippine, Financial Executives Institute of the Philippines and Foundation for Economic Freedom.
Other business groups joining the call are the IT and Business Process Association of the Philippines, Japanese Chamber of Commerce and Industry of the Philippines Inc., Korean Chamber of Commerce of the Philippines Inc., Makati Business Club, Management Association of the Philippines, Philippine Association of Multinational Companies Regional Headquarters Inc. and Semiconductor and Electronics Industries in the Philippines Foundation Inc.