Two big business groups urged the newly elected legislators to act and pass key economic measures to promote competition and business growth, as well as foster economic development and stability.
The Philippine Chamber of Commerce and Industry (PCCI) and the Makati Business Club (MBC) issued separate statements on Tuesday seeking timely legislative attention to their concerns.
PCCI President Enunino Mangio said his group is seeking the passage of the Magna Carta for MSMEs (micro, small, and medium enterprises), which should extend the mandatory allocation of MSME loans by banks.
They said the regulatory cover set by the Bangko Sentral ng Pilipinas (BSP) on Small Business Corp. (SB Corp.) should also be removed, which would allow SB to extend to MSMEs development loans within an out-of-the-box framework.
They also listed the International Maritime Trade Competitiveness Bill among their concerns. The bill mandates regulatory oversight of international shipping lines and ensures that shipping charges are based on international best practices, subject to taxes.
Their list also includes the National Quality Infrastructure Act, which would facilitate the access of local products to global markets by ensuring that these meet international quality benchmarks/standards; the rationalization of the mining fiscal regime to have a clear and predictable tax policy and enable long-term decisions in mining.
“These are some of our wishes that hopefully, this new Congress will consider enacting,” Mangio said.
“At the most basic, leaders with integrity and good governance are accessible and have constructive engagement with business, or at least have a pro-business legislative track record that supports reducing
red tape and promotes competition and SME growth,” Mangio added.
‘Investor-friendly’
Rafael Ongpin, Makati Business Club executive director, viewed the generally smooth political exercise as proof that “we are a stable country politically, and that makes us more investor-friendly.”
MBC is pushing for the Freedom of Information (FOI) Act, which the group hopes to consolidate with related bills.
Former President Rodrigo Duterte signed Executive Order 2 of July 23, 2016, creating the FOI, but MBC wants more appears unsatisfied with its provisions.
Ongpin said multiple versions of the FOI bill were considered in the Senate and the House of Representatives, but were overtaken by the elections.
He said MBC, a longtime supporter of the measure, hopes that the current batch of senators can consolidate these versions, making its passage more likely, especially following expressions of support from key government agencies, including the Department of Budget and Management.
Ease of doing business
PCCI Chairman George Barcelon said on behalf of his group the local and national lawmakers who have been newly elected must address malnutrition, uplift basic education, reduce bureaucracy, and implement business-friendly policies to improve the nation’s ease of doing business and boost the competitive edge.
Congress must also focus on measures that will attract investments and upgrade technology in the agriculture sector for food security in view of geopolitical uncertainty, where farm commodities can be weaponized, he said.
Barcelon called for policies that would improve energy and logistics infrastructures, which he said are the backbone of industries.
“Those are critical concerns and the deliverables must be set,” Barcelon added.
