Foreign Chambers Outline Competitiveness Agenda Ahead of Marcos’ SONA
The Joint Foreign Chambers (JFC) called for the continued advancement of key economic reforms to strengthen the Philippines’ competitiveness, attract greater investment, and support long-term growth, ahead of President Ferdinand R. Marcos Jr.’s State of the Nation Address (SONA).
The JFC, composed of the American Chamber of Commerce of the Philippines (AmCham), Canadian Chamber of Commerce of the Philippines (CanCham), European Chamber of Commerce of the Philippines (ECCP), Japanese Chamber of Commerce and Industry of the Philippines, Inc. (JCCIPI), Korean Chamber of Commerce Philippines, Inc. (KCCP), and the Philippine Association of Multinational Companies Regional Headquarters, Inc. (PAMURI), submitted a letter to President Marcos outlining priority legislative and executive measures to improve the country’s investment climate.
The chambers identified several priority measures, including amendments to the Electric Power Industry Reform Act (EPIRA), the proposed Cybersecurity Act, Digital Economy Act, National Single Window System Act, Artificial Intelligence (AI) Act, National Land Use Act, Civil Aviation Authority of the Philippines (CAAP) Charter amendments, Philippine Ports Authority (PPA) Charter amendments, and the Freedom of Access to Information Act. The JFC also emphasized the importance of fully implementing recently enacted reforms, including the CREATE MORE Act, Ease of Doing Business Act, and Ease of Paying Taxes Act.
According to the chambers, these reforms can help address longstanding challenges in energy costs, digital competitiveness, trade facilitation, regulatory efficiency, and infrastructure governance while positioning the Philippines to attract more investment and participate more effectively in regional and global value chains.
“The Philippines has made meaningful progress in advancing reforms that strengthen investor confidence and improve the business environment,” said Ebb Hinchliffe, Executive Director of the American Chamber of Commerce of the Philippines. “Continued action on competitiveness-enhancing reforms and effective implementation of existing laws will help attract more investments, create jobs, and sustain economic growth.”
The JFC reaffirmed its commitment to working with the administration, Congress, and relevant government agencies to advance policies that promote competitiveness, innovation, and economic opportunity for Filipinos.
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Note: For more information, please refer to the attached letter submitted by the Joint Foreign Chambers to President Ferdinand R. Marcos Jr.