Makati Business Club (MBC) said it looks forward to the signing of three economic bills—Ease of Paying Taxes, Internet Transactions measure and amendments to the Public-Private Partnership Act—into laws by the President, when the Congress resumes session on Nov. 6, 2023.
“We continue to advocate for remaining economic reforms such as the Apprenticeship bill, Amendments to the Right of Way Act, and the Enactment of Enabling Law for Natural Gas Industry. We are confident these reforms will be a boon for taxpayers, entrepreneurs, consumers, and all citizens, all of whom deserve better public services,” MBC said in a statement.
The group said it is confident that Congress would help create a more attractive investment climate and generate more and better jobs for the Filipino people.
“We look forward to more signs of leadership in a time of growing local and global economic headwinds,” the group said.
MBC said the Ease of Paying Taxes bill would greatly help individuals and businesses, especially MSMEs, who make up most of the economy, contribute their share to the government’s coffers easily and quickly so they can focus on the work that creates jobs and supports their families.
The Internet Transactions measure will apply balanced rules and regulations on certain internet activity, as this will allow technology to serve job-creating entrepreneurs as well consumers seeking convenience and better deals, while giving consumers reasonable protections.
The group said the Public-Private Partnership bill is a major step toward a shared vision for the private sector to assist the government in delivering public services at a high standard.
“If and when it is signed, we respectfully request the Administration to consider a range of private sector recommendations when they craft the IRR, with the objective of making it more attractive for businesses to partner with the government at a time when GDP growth is slowing, FDI remains weak, and government finances are under increasing pressure,” MBC said.
The group noted the significance of the bill especially for the provisions on unsolicited proposals, which have a valuable, defined role in the PPP space.