Marcos urged: Fast-track FOI, other measures to materialize investment pledges

MANILA, Philippines —The Makati Business Club (MBC) called on President Ferdinand Marcos Jr. to hasten the passage of several measures, including the Freedom of Information bill. 

In a statement, the MBC said it acknowledged Marcos’ efforts to promote the Philippines as an investment destination. The Department of Trade and Industry claimed that Marcos’ foreign presidential trips garnered up to $19 billion in pledges. 

However, the MBC pointed to several measures that could help turn these pledges into reality. 

“Reforms in governance, ease of doing business, skills development, and improving power and infrastructure need to be fast-tracked so that the country can become more competitive,” the MBC stated. 

The MBC specifically pointed to the following measures that Marcos could prioritize with his third State of the Nation Address (SONA) coming up. 

• Apprenticeship Program Reform (Senate Bill No. 2491)
• Enterprise-Based Education and Training Framework Act (Senate Bill No. 2587)
• Philippine Downstream Natural Gas Industry Development Act (Senate Bill No. 2247)
• People’s Freedom of Information (Senate Bill No. 1006)
• Right-of-Way Act Amendments

The People’s Freedom of Information, filed by Sen. Sonny Angara in the 19th Congress, aims to create broad guidelines to help operationalize the government’s mandate of public disclosure of its transactions. 

On the other hand, the Philippine Downstream Natural Gas Industry Development Act aims to develop the country’s natural gas sector. 

Both the Apprenticeship Program Reform and the Enterprise-Based Education and Training Framework Act are measures to bolster the skills of the country’s workforce.  

“We believe that these important reforms will help accelerate economic growth, improve investor confidence, and create an enabling environment for job-creating investments. The Makati Business Club will continue to work and offer any form of assistance the executive and legislative branches may need to turn these reforms into reality,” said the MBC. 

Marcos is set to deliver his third SONA on July 22, 2024 at the House of Representatives in Quezon City.