Beng optimistic commerce, business stronger in 2012 PDF Print E-mail
Monday, 28 November 2011 16:38

House Deputy Speaker for Mindanao Beng Climaco has expressed optimism that commerce and business will be better and stronger in 2012, as the House and local international business groups have agreed to pursue a common list of legislative priorities intended to sustain poverty alleviation.

Rep. Climaco together with other House leaders met with the Joint Foreign Chambers and Philippine Business Groups to discuss measures on strengthening commerce and business through immediate policies in the both the House and the Senate.

The legislative priorities focusing on accountability and transparency are ultimately intended to promote the sustained war against poverty. It covers economic and governance legislation including 27 measures that are also included in the priorities of the House and Senate as well as in President Aquino’s legislative agenda.

The first five common priority list are the 1) Data Privacy Act (Approved on 3rd reading); 2) Rationalization of Fiscal Incentives (Approved on 3rd reading); 3) Customs Modernization and Tariffs Act ( Approved on 3rd reading); 4) Direct Remittance to LGUs of their 40% share from National Wealth Taxes (Approved on 3rd reading) and
5) Fair Competition or Anti-Trust (Approved on 2nd reading).

Cong. Climaco emphasized that all these will trickle down to an active business opportunities especially to respective cities in the months and days to come.
Among leaders of foreign and Philippine business groups present during the dialogue were Hubert D’Aboville, president of the European Chamber of Commerce and
Aurelio Montinola, Jr., President, Banker’s Association of the Philippines, among others.

House Speaker Feliciano Belmonte Jr. led the House leaders in meeting with the business groups.

The other measures included in the common priority list are the Amendments to the BOT or PPP Law (TWG substitute bill being drafted); Exemption from Common Carrier’s Tax/Gross Philippine Billing (for 2nd reading); Clean Air Act Amendment (Committee deliberation); Retail Trade Act Amendments (no bill filed yet);  Financial Sector Tax Neutrality Act (no bill filed yet); Amendments to certain (economic) provisions of the Constitution (under committee deliberation);  Enhancing the Curriculum of Basic Education (committee); Land Administration and Reform (committee); Anti-Smuggling (for report preparation by the Committee on Ways and Means); Excise Taxes on Tobacco and Alcohol (committee); Creative Industries Act (no bill filed yet); Cybercrime Prevention Act (committee report for filing); Rationalization of Non-working Holidays (committee); Security of Tenure (approved at committee level; awaiting plenary schedule); Mining Act Amendments (committee); Authorizing LGUs to issue small and large scale mining permits (for TWG study); Intellectual; Property Rights Act Amendments (Approved on 3rd reading); Lemon Law (Approved on 3rd reading); Plastic Bag Regulation Act (Approved on 3rd reading); AMLA Amendments (Approved on 2nd reading); Creation of the Department of Information and Communications Technology (Approved on 2nd reading); Whistle Blowers Protection Act (committee report for filing); BSP Charter Amendments (committee); Freedom of Access to Information (committee); and Philippine Immigration Code (Committee and TWG). — Marvin Segura