A coalition of local and foreign business groups has issued a list of critical reforms which they said should be in place immediately to achieve inclusive growth.

In a letter of President Aquino dated May 15, the Philippine Business Groups and Joint Foreign Chambers (PBG-JFC) said they applaud the social, political and economic reforms undertaken by the administration since 2010.

“The PBG-JFC believes, however, that with 12 months to go before the national elections, critical remaining reforms should be enacted and implemented at the soonest time as we work toward our shared goal of inclusive growth through job generation, poverty reduction, and global competitiveness,” the groups said.

The letter was signed by the heads of the following organizations: Management Association of the Philippines, Makati Business Club, Semiconductor and Electronics Industries in the Philippines, Inc., Employers Confederation of the Philippines, Information Technology and Business Process Association of the Philippines, Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc., Alyansa Agrikultura, Philippine Exporters Confederation, Inc., Chamber of Mines of the Philippines, Philippine Chamber of Commerce and Industry, Financial Executives Institute of the Philippines, American Chamber of Commerce of the Philippines, Australian-New Zealand Chamber of Commerce Philippines, Inc., Canadian Chamber of Commerce of the Philippines, European Chamber of Commerce of the Philippines, Japanese Chamber of Commerce and Industry of the Philippines, Inc., Korean Chamber of Commerce and Philippine Association of Multinational Companies Regional Headquarters, Inc.

The groups want the government to revisit some of the earlier recommendations made and to hopefully have them in place before the end of the year.

To institutionalize integrity and good governance, accelerate infrastructure development, ensure massive job creation as well as facilitate trade and boost the country’s competitiveness, the groups said the Aquino administration should act on a number of measures requiring executive action.

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In particular, the groups said the government should immediately appoint qualified, credible and experienced public servants for the vacant posts in the Civil Service Commission, Department of Energy, and the Philippine National Police.

The government should likewise form a public-private energy council composed of credible electricity experts who will come up with an energy security and price competitiveness roadmap with specific targets and timetables.

“We also call for the establishment of the National Privacy Commission, as well as the release of the implementing rules and regulations of the Data Privacy Act and the Cybercrime Prevention Act – both of which have been enacted more than a year ago,” the groups said.

As agriculture employs a third of the workforce, the groups also called for the establishment of trading centers with the latest production technology to decrease prices of agricultural products.

With the National Competitiveness Council working to reduce the steps to pay taxes to 13 from 36, the reform should be implemented without the delay.

To boost foreign investments, the Foreign Investment Negative List should be revised by reducing the list of industries where foreign participation is limited.

“We further call for more intensified efforts to implement with no delay critical infrastructure projects that will reduce ground transportation, airport, and seaport congestion. The costs of congestion to our economy are enormous, and solutions to the challenges of moving more goods and more people more efficiently are urgent,” the groups said.

As a fully functioning judiciary is likewise critical in cementing investor confidence in the country, the groups are urging the administration to have a more proactive approach to speed up progress of the Maguindanao massacre trial and the plunder cases against the three senators accused in the pork barrel scam.

To complement the executive initiatives, the groups should also certify the following measures as priority legislation: Freedom of Information Act; Resolution of Both Houses No. 1 by Speaker Feliciano Belmonte; Public Private Partnership Act and amendments to the Right-of-Way Act; Fair Competition Act; Department of Information and Communications Technology bill, Customs Modernization and Tariff Act, and reduction of personal and corporate income tax to a fair and progressive rate.

“The PBG-JFC holds that the Philippines possesses immense untapped potential that will be unleashed with the proper environment and policies in place. It is our common position that the enactment and implementation of the above measures will accelerate the country toward the progressive nation we all aspire to become,” the groups said. 

Source:The Philippine Star - Business