Business groups are pushing for the passage of 21 critical legislative measures that will drive economic growth, enhance global competitiveness, and promote inclusive development.
The Philippine Business Groups and the Joint Foreign Chambers (PBG-JFC) in a statement said they wrote President Ferdinand Marcos Jr. to request for support in enacting these reforms that have been pending in Congress.
The request comes ahead of the State of the Nation Address of Marcos on July 22.
Only three of the 24 measures advocated by the PBG-JFC at the start of the Marcos administration in July 2022 were signed into law; while three more have been identified in the LEDAC Common Legislative Agenda for passage.
“With one year left in the current Congress, we believe that the 21 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. We will continue to work with Congress and your administration in support of these remaining reforms as we look forward to your third State of the Nation Address,” the groups said, quoting the letter.
The PBG-JFC’s prioritized legislative agenda are the following:
Liberalization of foreign equity restrictions in the Constitution; the Konektadong Pinoy Bill which seeks to lower barriers and cost to entry for data service providers, promote sharing of infrastructure and efficient use of resources, and lower internet costs for Filipinos;
promotion of digital payments which mandates the use of safe and efficient digital or electronic mode of payments by all national government agencies, government-owned and controlled corporations, and local government units;
Amendments to the Corporate Recovery and Tax Incenives for Enterprises and the Philippine Economic Zone Act for hybrid/flexible work schedules to allow locators greater flexibility in setting work from home arrangements; Freedom of Information Act which provides the parameters and mechanisms for citizens’ access to information in all government offices; Capital Income and Financial Taxes Reform which will simplify taxation of passive income and financial transactions, harmonize tax rates on interest, dividends, and capital gains, and rationalize the documentary stamp tax to reduce costs and improve compliance;
Amendments to the Secrecy of Bank Deposits Law which will allow the Bangko Sentral ng Pilipinas to examine, inquire, or look into deposits under certain conditions related to unlawful activities; National Unemployment Insurance which will protect workers from income loss due to job loss by providing unemployment benefits while they seek new employment; creation of a Department of Disaster Resilience which will be given the mandate to lead in the planning, coordination, monitoring, oversight, and implementation of disaster risk and vulnerability reduction and management;
Amendments to the E-Commerce Act to align with treaty obligations and international best practices for electronic signatures, contracts, communications, and documents; Pandemic Protection Act which aims to prevent the overburdening of the health care system, develop health care and manufacturing, create jobs during pandemics, ensure supply of critical products, protect consumers, and build partnerships with the private sector; Holiday Rationalization Act which will determine the number of non-working holidays comparable to the Philippines’ neighboring Asean countries and reduce business cost;
Creation of the Philippine Airports Authority which will handle the regulation and operation of all airports and improve safety and efficiency; amendments to the charter of the Philippine Ports Authority (PPA) Charter to transfer PPA-operated ports to a separate public sector entity to improve safety and efficiency; amendments to the Intellectual Property Code to comply with treaty obligations and adopt international best practices; strengthening of the Philippine pension system, including its portability, to allow employees to grow their pension fund even if they change employers; reforms to the apprenticeship program to make it more attractive to both enterprises and prospective apprentices; easing of agricultural land ownership by increasing the landholding ceiling on agricultural land from 5 hectares to 24 hectares and rationalizing the process on agricultural land transactions; repeal of Commonwealth Act 138 (FLAG Act) o remove the 15 percent domestic preference in awarding contracts for construction or repair of public works; the International Maritime Trade Competitiveness Act which strengthens the oversight functions of government agencies over the imposition of shipping charges by international shipping lines and institutionalizes mechanisms for the efficient movement of goods and; satellite-based Technologies Promotion Act easing regulatory requirements for the use of satellite-based internet technologies to connect unserved and underserved communities.