Business groups are seeking ease of doing business, says Villar

Business groups in the Philippines are advocating for the government to prioritize the effective implementation of the ease of doing business law and address corruption, according to Senator Cynthia Villar. Villar, whose husband Manuel Villar is known as the “brown taipan” and is considered the country’s wealthiest man, stated that amending certain economic provisions of the Constitution would not have a significant impact on the economy. She emphasized that legislative efforts could be more beneficial in improving the country’s economy.

During the Hog Festival 2024 in Quezon City, Villar shared that businessmen she spoke with expressed the importance of improving the ease of doing business and reducing corruption. She refrained from disclosing her stance on the controversial Charter change proposal as the Senate continues to conduct hearings on the matter.

Meanwhile, President Marcos suggested holding a plebiscite alongside the 2025 elections to amend the economic provisions of the Constitution, which could result in cost savings for the government. Senate President Juan Miguel Zubiri highlighted the President’s preference for the Senate to spearhead discussions on Charter change, focusing on Resolution of Both House 6 (RBH6) rather than RBH7 of the House.

In the field of technical and vocational education, experts will participate in the upcoming public hearing of the Senate subcommittee on constitutional amendments. Senator Sonny Angara, leading the hearings on RBH6, revealed that resource persons from the techvoc and private education sectors have been invited to provide insights.

The Foundation for Economic Freedom (FEF) supported the findings of the House Congressional Policy and Budget Research Department (CPBRD), emphasizing the need to amend restrictive economic provisions in the Constitution. FEF underscored the country’s economic limitations compared to other ASEAN countries and globally, advocating for the removal of these restrictions to attract more foreign direct investments.

Overall, the discussions surrounding Charter change in the Philippines seek to address key economic challenges and pave the way for a more conducive business environment in the country.

Leave a Reply