Speaker thanks PBBM for citing Congress’ role in luring investors

Speaker Ferdinand Martin G. Romualdez on Friday thanked President Ferdinand R. Marcos Jr. for recognizing the Congress’ role in promoting the Philippines as an ideal destination for foreign investors. ‘We are grateful to President Marcos for citing the key legislations we had passed and the critical need for collaboration between the Executive and the Legislative in making the Philippines a more investor-friendly place,’ Romualdez said in a statement. During his roundtable meeting with Malaysian top business leaders in Kuala Lumpur on Thursday, Marcos introduced to them Romualdez and other lawmakers who are part of his official delegation in his three-day state visit to Malaysia. ‘I would also like to introduce the gentlemen seating on my left here is the Speaker of the House, Speaker Martin Romualdez and he is a critical part here, and the rest, we have two senators also here, Senator JV Ejercito and Senator Mark Villar, who have been critical in assisting us pushing this legislation -these amendments to the legislation through Congress. And to get this amendment- to get the new laws enacted,’ Marcos told the business leaders. In his separate message to the Malaysian business community during the Philippine Business Forum also held in Kuala Lumpur, Marcos also cited the investment-friendly reforms and programs instituted with the help of Congress, as well as new laws needed. Romualdez said Marcos’ acknowledgment motivates them even more to redouble their efforts in passing the remaining priority bills that are needed to sustain robust economic growth and to entice more investors. He said Marcos pointed out that corporate taxation has become more business-friendly with lowered tax rates and improved mechanisms for tax and tax incentives. Romualdez said the President, however, noted that many more amendments are needed to fully modernize the country’s business environment, especially on taxation, procurement, and accounting, among others. He said President Marcos’ three-day state visit to Malaysia from July 25 to 27 yielded USD285 in investment pledges that are expected to create over 100,000 job opportunities. Romualdez earlier vowed that the House would pass the remaining 10 priority measures Marcos had identified in his second State of the Nation Address (SONA) before the end of this year. These are Anti-Agricultural Smuggling, Amendments to the Cooperative Code, Tatak Pinoy, Blue Economy, Motor Vehicle User’s Charge, Military and Uniformed Personnel Pension, Revised Procurement Law, New Government Auditing Code, Rationalization of Mining Fiscal Regime, and National Water Act

Source: Philippines News Agency