Speaker exhorts FFCCCII to create more jobs

MANILA, Philippines — Speaker Martin Romualdez urged Filipino-Chinese businessmen yesterday to help the government and Congress create more jobs locally so that Filipinos need not go abroad for work.

Addressing the 33rd biennial convention of the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII), Romualdez assured businessmen of support from the House of Representatives in passing measures that improve the business and investment environment in the country.

“We hope we can count on the support of the Federation in our efforts to open up the Philippine economy and create more jobs here, so that there would be fewer and fewer of our countrymen who will grow up without their father or mother,” he said.

Romualdez noted that to soften the impact of the COVID-19 pandemic on businesses, the first bill filed before the House was intended to provide assistance to “distressed businesses.”

He was referring to House Bill (HB) No. 1, the Government Financial Unified Initiatives to Distressed Enterprises for Economic Recovery or GUIDE Bill, which he principally authored.

The measure  was passed on third and final reading and transmitted to the Senate.

Last Tuesday, the House also approved on third and final reading HB 7363, the “Pondo sa Pagbabago at Pag-asenso Act” (Fund for Change and Progress Act), which seeks to provide sustainable and collateral-free financing to micro and small enterprises (MSEs).

“We are also pushing for the creation of the Maharlika Investment Fund (MIF). In the House version transmitted to the Senate, businesses can invest in the MIF along with government in viable instruments, with guaranteed dividends, and part of the profits plowed back to strategic government projects,” said Romualdez.

The House is also working for the digitalization of government processes “to make it easier for people and businesses to transact with government,” he said.

“We are currently pushing for the amendment of key economic provisions of the Constitution, which we view as restrictive, to make it easier for more businesses to set up shop in the country,” he added.

The Speaker pointed out that they are “committed to bringing about a brighter future for Filipinos and provide real, pragmatic solutions to many of the development problems that we face.”

He cited the importance of unity in attaining government’s goals and aspirations for the country.

“Indeed, through unity, we can achieve development and prosperity that much faster. This is the same principle that we applied at the House to facilitate the passage of landmark measures to hasten economic recovery. Be assured that your representatives know and understand the important role businesses play in sustaining national development,” he added.

The lawmaker also thanked the federation for its “barrio schools program.”

“The school buildings that you have helped build go a long way towards ensuring that the country can look forward to an educated citizenry,” said Romualdez. “On behalf of the beneficiaries, please accept our gratitude for your commitment and support to Philippine basic education.”