In a bid to enable inclusive growth for the country as the administration of President Ferdinand Marcos Jr. takes the reins, local business groups and foreign chambers recently called on the 19th Congress to pass 24 legislative measures, including reforms to institutionalize flexible work arrangements, better internet connectivity, easier tax payments and digital payments.
Among the bills in their wish list is the one pushing for open access in data transmission, whose ultimate goal is to improve internet connectivity in the country through fair and open competition in the market.
The Ease of Paying Taxes bill, which seeks to simplify procedures for tax payments to improve collection; promoting digital payments in order to make paying for government transactions quicker and more convenient to the public; as well as the liberalization of foreign equity restrictions in the Constitution; hybrid/flexible work schedules; freedom of information; property valuation and assessment reform; capital and financial tax reform; and Build-Operate-Transfer Law amendments or Public-Private Partnership Act.
They also asked government to prioritize amendments to the Bank Secrecy Law, national unemployment insurance, creation of a Department of Disaster Resilience, E-Commerce Act amendments, Pandemic Protection Act, Holiday Rationalization act, creation of Philippine Airports Authority and Philippine Ports Authority Charter amendments, among others.
The wish list of the business groups and foreign chambers was certainly long and while well-meaning, many will probably have conflicts with existing laws or new policies that will need to be resolved. This is the challenge that the new government has to face as the country eases into the new normal and hopefully gains a competitive edge with the help of visionary leaders who can spearhead our adaptation and evolution by instituting post-pandemic changes that will surely reshape how the Philippines can fare and take advantage of the opportunities of a local and global business sector that is currently in flux.*
