Noy urged to implement overdue reforms before term ends

MANILA, Philippines - Philippine and foreign businessmen are urging President Aquino to pursue needed reforms in his last two years of office to instill good governance, achieve inclusive growth and attract more foreign investments.

In a letter to Aquino dated July 21, the Philippine Business Groups and Joint Foreign Chambers (PBG-JFC) said that while they recognize the efforts of the administration to implement social, political and economic measures for a progressive Philippines, there are still much-needed and long overdue reforms.

The letter was signed by the heads of the following business groups: Makati Business Club, Semiconductor and Electronics Industries in the Philippines, Employers Confederation of the Philippines, IT (Information Technology) and Business Process Association of the Philippines, Management Association of the Philippines, Alyansa Agrikultura, Philippine Exporters Confederation, Chamber of Mines of the Philippines, Federation of Filipino-Chinese Chambers of Commerce and Industry, Financial Executives Institute of the Philippines,

Philippine Chamber of Commerce and Industry, American Chamber of Commerce of the Philippines, Australian-New Zealand Chamber of Commerce Philippines, Canadian Chamber of Commerce of the Philippines, European Chamber of Commerce of the Philippines, Japanese Chamber of Commerce and Industry of the Philippines, Korean Chamber of Commerce Philippines and Philippine Association of Multinational Companies Regional Headquarters.

The groups said the government must continue to push for the campaign of good governance.

“It is imperative that public officials, both past and present, who are proven to have been involved in the misuse of public funds be held accountable to the fullest extent of the law at the soonest time and without fear or favor,” the groups said.

As recent developments demonstrate that corruption continues, the groups said it is important for the public to serve as the government’s partner in guarding against corruption.

“Thus, we take note of your commitment during the Daylight Dialogues to pass the Freedom of Information Act before the end of your term and are looking forward to its enactment,” the groups said.

The groups are also pushing for the issuance of an executive order which will encourage government agencies to require companies that will bid for government contracts to sign the Integrity Initiative and commit to do clean and ethical business.

To make the country’s economic growth inclusive, greater focus on sustainable agriculture and responsible mining is being pushed.

In particular, the groups want the administration to immediately formulate and implement roadmaps for specific subsectors in agriculture, similar to what has been done for certain industries by the Department of Trade and Industry.

“Furthermore, these roadmaps must be supported by adequate investments to increase agricultural productivity and to improve the welfare of our farmers and fisherfolk,” the groups said.

The groups also called for the retention of the existing Philippine Mining Act, which is seen as an effective piece of legislation if properly implemented.

“As a complement, we should ensure that we have an internationally competitive fiscal regime for mining, which gives the government a fair share of net mining revenues, as well as ensures an equitable and reasonable return for investors,” the groups noted.

In deciding on the mapping of “no-go” zones, the groups are of the view that the value of potential mineral projects should be balanced and weighed against agricultural, tourism and other considerations.

To attract more foreign investments, the groups are encouraging the government to consider proposals to open certain areas of the economy to greater foreign participation.