Marcos assures biz group’s wishlist fulfillment

President Ferdinand Marcos Jr. on Thursday assured the business community of their moment.

At the 48th Philippine Business Conference and Expo 2022, organized by the Philippine Chamber of Commerce and Industry, Marcos pledged fulfillment of their wishlists to ensure the country's stability moving forward from the headwinds of Covid 19 pandemic and global uncertainties.

"I assure you that the concerned agencies will assess these recommendations' feasibility and probability of success. Of course, we recognize that our businesses cannot thrive alone. Thus, it is my commitment to foster a sound environment where businesses can flourish and continue to be a driver of our economic growth," Marcos told the Philippine Chamber of Commerce and Industry members during his speech at the Manila Hotel.

The President also reiterated his vision of improving the country's business climate and elevating the status of the Philippines as a top investment destination through various endeavors by continuing to harmonize efforts of all investment promotion agencies, government agencies, and local government units to effect more significant synergies.

"We also continue to help ease business in the country. We are enhancing our digital infrastructure to streamline the application processes for business permits, licenses, and other documentary requirements. Moreover, we are committed to developing our renewable energy sector to ensure adequate power supply and alleviate rising electricity costs," he stated.

Ensuring unhampered power supply was through revising the Renewable Energy Law's Implementing Rules and Regulations to secure energy supply in the country and attract foreign investments for renewable energy development.

"We must make these changes because the technology for renewable energy has moved forward so quickly that we have to catch up with our regulations, with the monitoring of our renewable energy sector," he said.

Moreover, Marcos Jr. said his government would make a strong push toward infrastructure development with a particular emphasis on public-private partnerships in critical projects.

"As of August this year, we already have 74 PPP projects in the pipeline, with a combined estimated cost of P2.25 trillion. But we must do more because we need more. I thus invite all of you to participate in the great enterprise of building our nation," according to Marcos.

Various concerns

The 48th PBC&E 2022's highlight was the ushering of PCCI's proposal to PMarcos Jr., a long list of pressing issues that affect the country seen by the country's largest business organization that they aim to serve as a guide for the President in achieving the country's economic growth.

Topping the resolution of the PCCI was food security, urging the National Government to uphold and achieve it by amending the Agrarian Reform Law to increase the land retention limit from five to 24 hectares, aside from implementing a debt condonation program for unpaid amortizations of Agrarian Reform Beneficiaries, and convert Certificates of Land Ownership Award into fee simple titles.

To recall, during his first State of the Nation Address, Marcos said he would implement a debt condonation program for farmers to alleviate their dire plight amid uncertainties such as rising inflation, among others.

Also, the PCCI wanted the President to focus significantly on health issues, reform Philhealth into a science-based and transparent healthcare system, and encourage Public-Private Partnerships in implementing the Universal Healthcare Law.

Employment was also one of the long lists of its proposals, urging the administration to work together with the private sector to reenergize the economy by supporting new investments to generate employment, aid pandemic-surviving MSMEs, amend all restrictive and punitive labor laws and enact laws that will increase productivity.