AS the third State of the Nation Address (SONA) by President Marcos Jr. nears, more and more sectoral groups are coming out of the woodwork and airing their ideas on how best the government could serve their sectors.
The farmers want more irrigation facilities, subsidized inputs, and tariffs on imported rice.
The fisherfolk need fishing vessels and implements, and access to an even bigger fishing grounds in the South China Sea and Philippine Rise. Teachers and youths both desire quality education, with the former asking for wage increases, too. The labor sector demands the P100 legislated hike in the minimum wage, or even higher if both the government and the business community agree, and rejects the measly P35 increased offered by the wage board.
Every sector has its own demands and requests for their own benefit, unmindful of the consequences or impacts these might have on other sectors in the economy.
As the President mounts the podium at the Batasang Pambansa to speak before the joint session of Congress on July 22, it is timely to hear voices also from the business community for they, too, have a huge stake in the growth or stagnation of the national economy.
‘… the MBC maintains the need for Congress to enact the bills that they enumerated because the government-private sector partnership still has a lot of work to do to move the economy forward.’
This weekend, the Makati Business Club (MBC) urged the Marcos administration to prioritize governance reforms, enhance the business environment, invest in skills development, and upgrade power and infrastructure. MBC members represent big money – conglomerates and multinational corporations in the Philippines.
The MBC, in a statement, highlighted five bills they believe should be given top priority by the government, and asked the President to use his influence over the House of Representatives (headed by his cousin Martin Romualdez) and the Senate (now headed by his ally Francis Escudero) to hasten the passage of the five measures.
These bills include the Apprenticeship Program Reform, the Enterprise-Based Education and Training Framework Act, the Philippine Downstream Natural Gas Industry Development Act, the People’s Freedom of Information, and amendments to the Right-of-Way Act.
Although many netizens — critics and non-critics alike — have expressed reservations and doubts that President Bongbong’s numerous trips abroad will redound to actual foreign investments in the country, the MBC is one of the organizations that believed the Department of Trade and Industry (DTI) when it announced that the Marcos administration has already secured $19 billion in investment pledges.
The club attributed this figure to the President’s scaled up diplomatic initiatives over the past year, noting an increase in state visits by President Marcos and visits by world leaders to the country.
“We believe that there are important reforms that need to be done in order to turn these investment pledges into reality. Reforms in governance, ease of doing business, skills development, and improving power and infrastructure need to be fast-tracked so that the country can become more competitive,” MBC said.
Another loyal believer in the effectiveness of Marcos’ investment missions abroad is presidential economic adviser Frederick Go who said these trips promote the country as a strategic investment destination in the region.
Go said the administration pushes for investment-friendly policies such as streamlining regulations, easing restrictions, and building critical infrastructure. Ongoing government efforts include passing the Corporate Recovery and Tax Incentives for Enterprises Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) bill; promoting investments in the Luzon Economic Corridor; and upskilling and reskilling the workforce in cybersecurity.
“These initiatives and reforms aim to reduce barriers to create an environment conducive for business and economic growth. And they all work towards our ultimate goal, which is to make the country a top investment destination,” Go added.
But on this, the MBC maintains the need for Congress to enact the bills that they enumerated because the government-private sector partnership still has a lot of work to do to move the economy forward.
