Foreign and local businessmen asked Congress to expedite the passage of business and economic reforms that are already in advanced stage of the legislative process.

The Joint Foreign Chamber of the Philippines and other business groups said a number of these measures were passed by the House of Representatives but remained to be approved by the Senate.

These measures include the Anti-Money Laundering Act amendments; Direct Remittance of Local Government Share in National Wealth Taxes; Enhancing the Curriculum of Basic Education (K+12); and Insurance Code amendments.

They also called for the passage of measures: Institutionalizing the National Land Use Policy; amendments to several laws on professions to allow foreign reciprocity; Rural Bank Act amendments; Sustainable Forest Management bill; Universal Healthcare Coverage; and Whistleblowers Protection bill.

Meanwhile, the House has yet to pass the Design Council bill and Freedom of Information bill that were approved in the Senate.

Both chambers have not approved the Anti-Trust bill.

The business groups noted the growing reform momentum in the Philippines, which was attracting attention in the international press and among foreign governments.

They urged Congress to sustain the momentum by passing most of these measures when it resumes for a three-week session on Jan. 21 and before entering the election campaign period.

The groups also called for the immediate implementation of the bills that were passed by Congress and scheduled for signing by President Benigno Aquino III.

These bills include the Anti-Trafficking Act amendments; Intellectual Property Code amendments; Tripartism, Conciliation and Mediation as a Mode of Dispute Settlement; and the removal of Common Carriers Tax and Gross Philippine Billings Tax.

The business groups include the American Chamber of Commerce of the Philippines, Australian-New Zealand Chamber of Commerce of the Philippines, Canadian Chamber of Commerce, Employers Confederation of the Philippines, European Chamber of Commerce of the Philippines, Financial Executives of the Philippines;

Japanese Chamber of Commerce and Industry of the Philippines, Korean Chamber of Commerce of the Philippines, Makati Business Club, Management Association of the Philippines, Philippine Association of Multinational Regional Headquarters, Philippine Chamber of Commerce and Industry, and Philippine Exporters Confederation Inc.

Source: Manila Standard Today; Business; 21 January 2013