Business groups welcomed the peaceful holding of the mid-term elections on May 12 and challenged the newly-elected senators and congressmen to pass more reform measures.
The Makati Business Club (MBC), in a statement, expressed optimism over the results of the elections, citing the smooth conduct of the polls as a positive sign for political stability and investor confidence.
“We’re happy that it seems to have been a very free and fair election, by Philippine standards, of course. Very few people died. The smoothness of the exercise shows that we are a stable country politically. That has implications for our economy. It makes us more investor-friendly,” said MBC executive director Rafael Ongpin during the group’s Foreign Leaders Series forum Tuesday.
Ongpin said the group is still gathering feedback from its board, but overall, there is satisfaction with how peaceful and orderly the elections were. “
“This was a healthy exercise. There were many different factions competing, and they all had varying degrees of success,” he said.
Ongpin said that while free and fair elections have long been a concern, the absence of major issues this time was encouraging.
He also highlighted the MBC’s policy priorities, particularly the long-delayed Freedom of Information (FOI) bill. “The FOI bill has been on our agenda for decades. The first one was filed in the 1980s. Congress still has about 15 versions. But with this new crop of senators, we think consolidation and passage are more likely,” he said.
The Philippine Chamber of Commerce and Industry (PCCI) also called on the incoming Congress to prioritize economic legislation that promotes competitiveness and business growth.
PCCI president Enunina Mangio outlined key measures that should be at the top of the legislative agenda to build an inclusive economy and strengthen Philippine industries.
She said these include the Magna Carta for MSMEs, the International Maritime Trade Competitiveness Act, the Amendments to the PPA and CAAP Charter, National Quality Infrastructure Act, and the Rationalization of the Mining Fiscal Regime.
“These are some of our key proposals that we hope the new Congress will act on. These reforms are critical to building a more progressive and resilient economy,” Mangio said.
She also stressed the need for electing legislators who can champion pro-business policies and drive economic growth.
“At the very least, we need leaders with integrity, good governance, and a track record of supporting legislation that cuts red tape, fosters competition, and empowers SMEs,” she said.