Business groups expect Congress to okay reforms

BUSINESS GROUPS expect the bulk of recommended laws to pass within the next 18 months as the government helps fast-track economic competitiveness improvements, officials yesterday said.

Of the 105 reforms listed in last year’s Arangkada Philippines initiative led by the Joint Foreign Chambers of the Philippines (JFC), three have been approved while 20 passed third reading or at least moved beyond the committee level in Congress.

“What we have today is a list of legislation that is moving faster — though not as fast — through Congress … One of them was passed in the last Congress but became law in this new administration in July last year,” said John D. Forbes, American Chamber of Commerce of the Philippines (AmCham) legislative committee chairman, referring to the Financial Rehabilitation and Insolvency Act.

The current Congress, meanwhile, has already passed the Government Owned or Controlled Corporations Governance Act and the Repeal of Night Work Prohibition for Women measures.

“This year is the most productive period typically for Congresses out of a three-year period,” Mr. Forbes said, noting that the first year is dedicated to sorting out priority bills while the last is spent mostly on election campaigns.

“The second year is when most of these bills can be moved forward […] so the next 18 months, which includes this year and all of next year until January of 2013, will be the most productive period,” he said.

“In the theme of Arangkada — moving faster and even twice as fast — we are very supportive of the 15th Congress for passing a large number of economic reform bills…”

Upcoming measures build on the 22 economic and business reforms already passed in the 14th Congress, foreign chambers noted in an Arangkada report.

In the short term, the report states that the House of Representatives has already approved eight bills on third reading. These pertain to the direct remittance to local government units of their 40% share from national taxes, the Customs Modernization and Tariffs Act, Data Privacy Act, rationalization of fiscal incentives, the World Intellectual Property Organization Copyright Treaty, a lemon law, the Plastic Bag Regulation Act, and amendments to regulated professions.
==============================================================================
By: E. J. Diaz
Source: Business World, Sept. 6, 2011
To view the original article, click here.