A letter dated June 19, signed by leaders of 13 local and foreign business and industry chambers, asked President Benigno S. Aquino to take action on long-standing critical issues for the remaining years of his administration.
The leaders identified key concerns and proposed measures required “to generate the greatest impact in achieving … inclusive growth through job generation, poverty reduction and global competitiveness.”
These issues include: accelerating the implementation of strategic transport infrastructure projects; enacting an effective anti-trust law and competition policy; overhauling the Customs Bureau; organizing an oversight body with private sector representation; passing a law simplifying Customs procedures and aligning them with international standards; streamlining incentive-giving laws; simplifying procedures and improving coordination of investment agencies; preserving the Philippine Mining Act of 1995;
Implementing an internationally-competitive fiscal regime; ensuring conformity of local ordinances with national laws and respect rights under contracts; making available additional power capacities and bringing down the cost of power “swiftly”; amending provisions of the Constitution that restrict foreign participation and, in the interim, reduce list of industries in the Foreign Investment Negative List; and addressing competence and efficiency issues in the justice system.
One of the signatories to the letter is Melito S. Salazar, Jr., President of the Management Association of the Philippines and a Trustee of the SERDEF.
Adapted from: “Long-standing concerns cited,” Business World Online, July 4, 2013