Media Release
July 23, 2025
A coalition of leading Philippine business groups and members of the Joint Foreign Chambers of the Philippines (PBG-JFC) announce a comprehensive economic reform agenda. The coalition is urging President Ferdinand R. Marcos Jr.’s administration and the 20th Congress to prioritize key legislative and executive actions to accelerate economic growth, foster sustainable development, and significantly enhance the country’s investment climate.
“While both domestic and global challenges persist, the Philippine economy has continued to demonstrate its underlying strengths and growth capabilities and we see clear opportunities for sustained economic expansion. To harness this potential, bold and decisive policy action is required.” the PBG-JFC stated in the letter sent in anticipation of the President’s State of the Nation Address (SONA).
The proposed legislative priorities encompass major reforms across various sectors, from energy and data transmission to natural resource management. The complete list of legislative priorities includes:
- Electric Power Industry Regulation Act (EPIRA) Amendments
- Cybersecurity Act
- E-Governance Act
- Digital Economy Act
- Open Access in Data Transmission/Konektadong Pinoy Act
- Freedom of Access to Information Act
- Foreign Investors’ Long Term Lease Act Amendments
- National Single Window System
- National Land Use Act
- Artificial Intelligence (AI) Act
- Blue Economy Act
- Civil Aviation Authority Act Amendments
- Philippine Ports Authority (PPA) Charter Amendments
- Holiday Rationalization Act
Alongside legislative efforts, the PBG-JFC have highlighted executive measures that “can deliver immediate impact and significantly bolster investor confidence.” These include improving the implementation of the Ease of Doing Business Act and CREATE MORE, streamlining travel requirements for foreign tourists, and the review and suspension of RMC 5-2024. These are:
- Improve implementation of Ease of Doing Business Act
- Improve implementation of Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act
- Reconsider Digital and Integrated System for the Pre-Border Technical Verification and Cross-Border Electronic Invoicing of All Import Commodities (AO-23)
- Streamline travel requirements and improve the visa application of foreign nationals to further attract tourists to the Philippines
- Review and suspend implementation of RMC 5-2024 (Taxes on Non-Resident Foreign Corporations)
- Improve implementation of Ease of Paying Taxes Act
- Reconsider Food and Drug Administration Revised Registration Fees (AO 2024-0016)
- Review Extended Producers’ Responsibility (EPR) Act to better enable private sector involvement
According to the business groups, these measures “form a unified reform agenda that reflects the business community’s commitment to supporting national development. Collectively, these measures will help attract quality investments, generate meaningful employment, and strengthen the country’s economic foundation for long-term, inclusive growth.”
The JFC-PBG signatories to the letter are:
American Chamber of Commerce of the Philippines
Association of International Shipping Lines, Inc.
Canadian Chamber of Commerce of the Philippines
Confederation of Wearable Exporters of the Philippines
European Chamber of Commerce of the Philippines
Financial Executives Institute of the Philippines
Japanese Chamber of Commerce and Industry of the Philippines, Inc.
Korean Chamber of Commerce of the Philippines, Inc.
Management Association of the Philippines
Philippine Association of Multinational Companies Regional Headquarters, Inc.
Semiconductor and Electronics Industries in the Philippines Foundation, Inc.