As the world moves into a post-pandemic scenario, businesses — big, medium, small, micro — need all the support that they can get. The two-year health crisis crippled a lot of industries and it would take years, or even decades, just to recover. But with all-out government support, these businesses can rise once again, endure new challenges, and perhaps, recover earlier than projected.
This is the rationale behind the request of the Philippine Chamber of Commerce and Industry (PCCI) as Congress starts its regular sessions. PCCI leaders have already met with House Speaker Martin Romualdez for a dialogue, which was also an opportune time for the group to identify 16 priority bills that businesses would need to help revive not only their own enterprise but also jumpstart the ailing economy.
These 16 bills, the PCCI said, are “top priority business-related bills that legislators need to pass and for the executive branch to implement.” These will also particularly give a hand of assistance to micro, small, and medium enterprises (MSMEs), the segment that employs a big number of Filipinos and was the most crippled during the pandemic.
In response, the Speaker assured PCCI leaders of the passage of five to 10 of the 16 priority legislative measures. Of the 16 priority bills, Romualdez was keen to prioritize the passage of at least five. These include two tax reform measures, the agrarian reform amendment, open access in data transmission, and the MSME Act amendment.
Romualdez also assured that the business sector will be consulted in crafting laws related to trade and commerce, vowing to hear all relevant stakeholders before passing any legislation.
For its part, the PCCI extended its readiness to collaborate with the government on reform measures that would boost and strengthen the country’s economic, social, and health sectors. PCCI said it is counting on the House to pursue the enactment of business-friendly measures crucial to recovery efforts, jobs creation, and the long-term progress of the economy.
The PCCI wish list includes Packages 3 (Property Valuation and Assessment) and 4 (Passive Income and Financial Intermediation Act) of the Comprehensive Tax Reform Program. The second legislative measure is the Capital Market Development Act, which focuses on the development of the country’s natural resources, encourages investments, provides livelihood in the rural areas, and reduces poverty.
Completing the top five bills are the Successful Farmers Development Act (Amending the Comprehensive Agrarian Reform Law), Tree-Growing Act, and Amendment or Repeal of the ASIN Act to facilitate the agriculture sector and micro and small enterprises’ access to finance as a tool to support their growth.
Other laws being pushed by PCCI include the Philippine Warehouse Receipts Act Amendment to broaden internet access and ensure quality, available, and affordable broadband connectivity; Open Access in Data Transmission Act; Satellite-based Technologies Promotion Act; Philippine Spectrum Management Act to bring down shipping costs; International Maritime Trade Act; among others.
These bills, which will be a tremendous help to all business groups, will hopefully be considered and acted upon by Congress. The administration of President Ferdinand Marcos Jr., which is also expected to make its positions on priority bills, might as well consider this wish list from the business groups. These proposed legislations will also form part of the resolutions to be adopted by the 48tth Philippine Business Conference on Oct. 19-20, 2022.
It is not only the passage that concerns most entrepreneurs though, but full implementation of these measures because it is only then that they will be felt by their intended beneficiaries.