Foreign biz groups push 12 measures

MANILA, Philippines —  Foreign business chambers have urged the Marcos administration to prioritize 12 key measures to improve investments and business confidence.

In a letter to President Marcos, the Joint Foreign Chambers of the Philippines (JFC) outlined priority legislative measures ahead of the President’s fifth State of the Nation Address (SONA).

Among the key measures is the amendment of the Electric Power Industry Reform Act, aimed at lowering electricity rates to spur business expansion, industrial growth and investment.

The Marcos administration must also continue its efforts to strengthen transparency and accountability in national and legal government offices, through the proposed Freedom of Access to Information Act.

The JFC said that a National Single Window System can streamline regulatory processes across government agencies and reduce transaction costs.

Amendments to the Civil Aviation Authority Act and the Philippine Ports Authority Charter can also improve operational efficiency, strengthen trade and address governance issues, they insisted.

On digitalization, the joint chambers stressed that the government must prioritize measures that will boost the country’s digital ecosystem.

The passage of the proposed Cybersecurity Act and Digital Economy Act can support the country’s growing digital ecosystem, while also maintaining trust, security and certainty for businesses and consumers.

Amid increasing use of artificial intelligence, the JFC said that an appropriate governance framework for AI can help attract technology-enabled investment while preparing Filipino enterprises and workers for the adoption of emerging technologies.

The foreign chambers noted that better implementation of the Holiday Rationalization Act will create a more predictable operating environment for businesses and workers.

Additionally, the group is pushing for the passage of the National Land Use Act, the Blue Economy Act and the Liberalization of Foreign Equity Restrictions.

The JFC said the Marcos administration must also improve the implementation of several measures, including the Ease of Doing Business Act, Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act, the Ease of Paying Taxes Act and the Extended Producers Responsibility Act.

Other measures such as streamlining travel requirements for foreign nationals, reduction of administrative fees of the Food and Drug Administration and the review of the proposed Philippine Nutrient Profile Model must also be prioritized.

Speaker Faustino Dy III yesterday said the House of Representatives is ready for Monday’s State of the Nation Address. –  Daphne Galvez, Alexis Romero, EJ Macababbad, Bella Cariaso, Emmanuel Tupas