Industry groups submit ‘wish list’ to Congress

Several local and foreign business groups have tagged 28 priority measures that they want lawmakers to act on to improve the country’s economy and make it more competitive in the international market.

In a joint statement, 14 business groups are pushing for economic measures that they hope the 18th Congress will consider.

The measures include the remaining packages of the Duterte administration’s comprehensive tax reform program, despite expressing their reservations to some parts of the so-called Trabaho bill.

Called the Tax Reform for Attracting Better and High-quality Opportunities (Trabaho) bill, the package wants to cut the country’s corporate income tax (CIT) and change the tax incentives offered to export-oriented companies.

“We convey our support on key provisions of the Trabaho bill that are beneficial to our country’s economic growth but urge policymakers to review the other conditions that may negatively impact our global competitiveness,” the statement said.

The groups—composed of various business interests—categorized the measures under two labels: Priority List A (13 measures) and Priority List B (15 measures).

“These priorities are being submitted to the leadership of the Congress and President Rodrigo Duterte for their consideration and enactment to improve the Philippine economy and its international competitiveness and to increase investment and job creation,” the statement read.

Those in Priority List A are: Public Service Act amendments; Train 2: Trabaho bill; Foreign Investment Act amendments; Retail Trade Act amendments; Apprenticeship Program Reform; Build Operate Transfer Law amendments; Freedom of Information Act; Bank Secrecy Law amendments; Lifting foreign equity restrictions; Train 3: Property Valuation and Assessment; Train 4: Capital Income and Financial Taxes; Open Access in Data Transmission Act, and the Water Department Act.

In Priority List B: Farm Entrepreneurship Act; Philippine Economic Zone Authority Law amendments; Train 2+: Excise Tax on Alcoholic Beverages; Agri-Agra Law amendments; Holiday Rationalization Act; National Disaster Risk Reduction and Management Authority Act; National Land Use Act; National Traffic and Congestion Crisis Act; Philippine Contractors Accreditation Board amendments; Philippine Ports Authority Charter amendment; Water Regulatory Commission Act; Civil Aviation Authority of the Philippines Act amendments; Commonwealth Act 541 amendments, and National Transportation Safety Board Act

The groups who signed the statement included the American Chamber of Commerce of the Philippines Inc.; Australia-New Zealand Chamber of Commerce of the Philippines Inc.; Bankers Association of the Philippines; Canadian Chamber of Commerce of the Philippines, Inc.; European Chamber of Commerce of the Philippines Inc.; Foundation for Economic Freedom; Japanese Chamber of Commerce and Industry of the Philippines, Inc.; Korean Chamber of Commerce of the Philippines Inc.; Makati Business Club; Management Association of the Philippines; Philippine Association of Multinational Companies Regional Headquarters Inc.; Alyansa Agrikultura; Information Technology and Business Association of the Philippines; and Semiconductor and Electronics Industries in the Philippines Inc.