MANILA – Fourteen Philippine business groups and foreign chambers have asked the Senate and the House of Representatives to pass 27 reform measures pending in the 18th Congress that will support economic recovery.
In a statement Thursday, the business groups said they advocated for these business and economic reform measures in July last year, and they are reaffirming their support for these legislative measures.
Separate letters were forwarded to President Rodrigo Duterte, Senate President Vicente Sotto III, and House Speaker Alan Peter Cayetano expressing the groups’ support to the 27 legislative reforms, they said.
“With the Covid-19 (coronavirus disease 2019) pandemic recovery period creating an urgency to move ahead to enact reforms, the group decided to resubmit their recommendations to the President and Congressional leaders,” the business groups said.
They underscored that this reform package of 27 measures will promote inclusive growth by creating jobs, alleviating poverty, improving national competitiveness, and supporting economic recovery, and higher economic growth in 2021 and beyond.
The business groups said eight of these 27 measures were included during the State of the Nation Address in 2019 while 19 are included in the legislative agenda of the Philippine Development Plan’s Mid-term Update.
The Philippine business groups and foreign chambers listed their recommended legislative measures in order of priority.
Top 10 priority measures in the list are the Public Service Act amendments, Tax Reform Package 2 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, amendments on Foreign Investment Act, Retail Trade Act amendments, Apprenticeship Program Reform, Build Operate Transfer Law amendments, Freedom of Information Act, Bank Secrecy Law amendments, foreign equity restriction amendments to the Constitution, and Tax Reform Package 3, or the Property Valuation and Assessment.
Following the list are the Tax Reform Package 4 or the Capital Income and Financial Taxes, Open Access in Data Transmission Act, Water Department Act, Farm Entrepreneurship Act, amendments on Philippine Economic Zone Authority law, Agri-Agra law amendments, Holiday Rationalization Act, National Disaster Risk Reduction and Management Authority Act, National Land Use Act, and National Traffic and Congestion Crisis Act.
The business groups also urged the Congress to pass the Philippine Contractors Accreditation Board amendments, PhilPorts Act (amend Philippine Ports Authority Charter), Water Regulatory Commission Act, Civil Aviation Authority of the Philippines Act amendments, Commonwealth Act No. 541 amendments, National Transportation Safety Board Act, and Philippine Airports Authority Act.
The Filipino and foreign business groups have 28 priority bills for this administration.
To date, only the Sin Tax bill was enacted into law.
Meanwhile, the 14 business groups that push for these reforms are Alyansa Agrikultura, American Chamber of Commerce of the Philippines, Australian-New Zealand Chamber of Commerce of the Philippines, Canadian Chamber of Commerce of the Philippines, European Chamber of Commerce of the Philippines, Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc., Foundation for Economic Freedom, and 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, Inc. also signed the letter to the president and Congressional leaders. (PNA)
