Biz groups urge Palace to advance 12 economic measures

MANILA -- The Philippine Business Groups-Joint Foreign Chambers of the Philippines (PBG-JFC) has urged the Office of the President to support 12 business and economic legislative reform measures for the 17th Congress.

In a letter to Executive Secretary Salvador Medialdea, the business groups noted that the 12 legislative reform measures should be prioritized by the 17th Congress as these support the 10-point socioeconomic agenda of the Duterte administration.

These priority legislation identified by PBG-JFC include: constitutional amendments, particularly provisions on foreign equity restrictions; Comprehensive Tax Reform Package; Apprenticeship Program Reform; Build-Operate-Transfer (BOT) Law; Freedom of Information; Corporation Code amendments; Public Service Act amendments; telecommunication reforms; Water Sector Reform Act; Bank Secrecy Law amendments; emergency powers to address traffic and transportation crisis; and Retail Trade Act amendments.

"Many were considered in the last Congress and some even earlier but did not complete the legislative process," the PBG-JFC said in the letter to Medialdea.

"All constitute reforms that will improve the business and economic climate of the Philippines and result in more investments, jobs, and inclusive growth," the business groups added.

The PBG-JFC is composed of Alyansa Agrikultura, American Chamber of Commerce of the Philippines, Australia-New Zealand Chamber of Commerce of the Philippines, Inc., Bankers Association of the Philippines, Canadian Chamber of Commerce of the Philippines, European Chamber of Commerce of the Philippines, Inc., Financial Executives of the Philippines, Foundation for Economic Freedom, IT and Business Process Association of the Philippines, Japanese Chamber of Commerce 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. (PNA)

Source: Philippines News Agency

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