Wed. Dec 1st, 2021

The Department of the Interior and Local Government (DILG) has joined to the call of influential business groups for Congress to act swiftly for the  passage of pending economic bills, including economic constitutional reforms (Economic CORE) as the House of Representatives began plenary hearings on Resolution of Both Houses No. 2.

DILG Spokesperson and Undersecretary Jonathan E. Malaya said they have joined the call to the Senate and the House of Representatives of five respected business groups who collectively expressed their strong support for the initiatives of the Duterte administration to open the Philippine economy as a means for economic recovery and sustainability.

“The affirmation given by these business groups shows that government policies are on the right track and those business leaders are willing to work hand in hand with the administration for economic recovery and sustainability,” Malaya added.

The business groups are the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc., the Foundation for Economic Freedom, Inc., the Management Association of the Philippines, the Subdivision and Housing Developers Association, Inc., and the UP School of Economics Alumni Association.

In a joint statement issued recently, the business groups called for the government to act with urgency in balancing public health with the deleterious effects of poverty and hunger on our countrymen and to maximize opportunities to attract foreign investments, create jobs, and build infrastructure for a strong digital economy.

“While we support the initiatives to liberalize the economy by amending the restrictive economic provisions of the 1987 Constitution, we are one with the position of the Department of Finance that our legislature act on something doable and immediately achievable,” the joint statement said.

“For the sake of our economy and the well-being of our people, we urge our government officials to act with the urgency that our situation demands, implement localized containment instead of community quarantines, and enact these crucial investment reforms,” reads the joint statement.Malaya said that further delay in economic reform will result in lost opportunities and delay the country’s recovery from the pandemic and more hardships for our people. Aside from amending the Constitution, the economic bills sought to be passed are the amendments to the Public Service Act, Retail Trade Liberalization Act, and the Foreign Investments Act. SOVEREIGNPH

Leave a Reply