The influential Makati Business Club (MBC) is urging the government to ensure the strict implementation of three vital measures aimed at economic reform, which are nearing approval by President Marcos.

In a statement on Tuesday, June 17, MBC commended the 19th Congress for ratifying measures that aim to position the Philippines as an attractive investment destination.

Last week, the Senate and the House of Representatives approved the final versions of the amendments to the Right-of-Way Act and Foreign Investors’ Long-Term Lease Act, as well as the bill proposing the E-Governance Act.

The three bills are identified as priority measures of the Marcos administration under the Legislative-Executive Development Advisory Council (LEDAC).

Once enacted into law, the MBC said these measures will help the country entice more foreign investments.

These new investments, according to the business group, will not only accelerate key infrastructure projects in the country, it will also improve transparency in the government.

“MBC advocates for improvements in governance, infrastructure, and transparency as key drivers to attract more investors, thereby creating more jobs,” the group said.

“We believe that these reforms are aligned with these advocacies,” it added.

The proposed Accelerated and Reformed Right-of-Way Act, which will amend the Right-of-Way Act, is seen as the government’s measure to fast-track major infrastructure projects.

Key projects, such as the Metro Manila Subway project and Metro Rail Transit Line 7 (MRT-7), have faced numerous delays due to issues related to right-of-way acquisitions.

With this proposed legislation, the government seeks to streamline the process for acquiring land and related assets needed for infrastructure projects.

Meanwhile, amendments to the Foreign Investors’ Long-Term Lease Act include extending foreign leases in the country to 99 years from the current 75 years.

This will align the Philippines with neighboring countries Singapore (99-year lease), Malaysia (99 years), and Indonesia (95 years).

Business groups have long called for the passage of this measure in order to attract investors who are looking for long-term security.

Lastly, the proposed E-Governance Act aims to streamline government processes by institutionalizing a national framework for a unified digital government system.

Once enacted, this bill is envisioned to make government processes more transparent, potentially cutting red tape.

This is yet another crucial move to enhance the ease of doing business in the country.

“We hope that the proper implementation of these reforms will achieve the intended goal of enhancing the country’s competitiveness,” said MBC.