Local and foreign business groups called on the House of Representatives and the Senate to pass priority economic reform bills.
The groups, in letters to the House and Senate leaders and the Presidential Legislative Liaison Office, commended the legislative and executive branches for introducing and moving forward with various vital measures, including several recommended by the groups, to attract more investments and improve job creation.
They also expressed optimism for the early ratification of the reconciled versions of three bills under the bicameral conference committees, including the Electric Vehicles and Charging Stations Act, Foreign Investment Act amendments and National Transportation Safety Board creation.
Signatories to the letter recommended the passage of more bills during the remaining session weeks of 18th Congress to address post- pandemic economic recovery.
These bills include the amendments to the Public Service Act, Department of Water Resources Management Act, Ease of Paying Taxes bill, Freedom of Information, Open Access in Data Transmission, Philippine Creative Industries, Promotion of Digital Payments, Rural Agricultural and Fisheries Development Financing System Act, Secrecy of Bank Deposits Law amendments, Tax Reform Package 3: Property Valuation and Assessment Reform and Tax Reform Package 4: Passive Income and Financial Intermediary Taxation.
Most of these eleven reform bills reached advanced stages in either chamber of Congress and only require counterpart action in the other chamber.
While supporting the amendments to the Public Service Act, the business groups and foreign chambers expressed opposition to the inclusion of any provision in the pending Senate version, SB 2094, that expands the legislative franchise requirement to public services beyond those provided under existing laws.
