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Speaker Romualdez Assures PH As An Investor Friendly Destination
Photo credit: Congress PH
In a recent address to the American Chamber of Commerce in the Philippines (AmCham), Speaker Ferdinand Martin G. Romualdez expressed the unwavering support of the 19th Congress for President Ferdinand R. Marcos, Jr.'s initiatives to enhance the investment climate in the Philippines. Romualdez highlighted the Congress's dedication to creating an environment conducive to economic growth and attracting investments.

As the guest of honor and speaker at AmCham's June General Membership Luncheon Meeting, held at the Fairmont Hotel in Makati City, Speaker Romualdez emphasized the collaboration between the Executive and Legislative branches of the government, which has resulted in a comprehensive legislative agenda focusing on key sectors crucial for the country's development.

Romualdez underlined the Congress's commitment to bolstering infrastructure through the passage of landmark bills. Recognizing the significance of infrastructure development as an economic driver, he pledged to address gaps and bottlenecks hindering progress. The "Build Better More" program, a cornerstone of the government's development efforts, will receive continued support, with Congress aiming to streamline permitting processes, promote public-private partnerships, and ensure sustainable financing for infrastructure projects.

Additionally, Romualdez emphasized the Congress's determination to pass legislation that enhances the country's education and skills development systems, ensuring a competitive and adaptable workforce in the rapidly evolving global economy.

The Speaker also emphasized the Congress's focus on improving the business environment by prioritizing measures that simplify taxes, promote fairness and competitiveness, ease regulatory burdens, and enhance transparency. These initiatives aim to create a business-friendly climate that attracts both local and foreign investors.

Furthermore, Romualdez highlighted the Congress's commitment to sustainable development and the transition to clean and renewable energy sources in response to the challenges posed by climate change.

He also emphasized the importance of enhancing the efficiency and effectiveness of the justice system, addressing corruption, and safeguarding the rights and freedoms of citizens. The Congress will work towards passing legislation in these areas.

Romualdez acknowledged the accomplishments of the 19th Congress, with 33 out of the 42 priority measures of President Marcos' administration receiving approval, three of which have already been signed into law. Notably, the Maharlika Investment Fund bill, which awaits President Marcos' signature, aims to establish the country's first-ever sovereign investment fund. This fund is expected to facilitate economic development by strategically investing in key sectors such as public road networks, tollways, green energy, water, agro-industrial ventures, and telecommunications.

The Speaker highlighted the challenges posed by the ongoing pandemic and conflicts in various parts of the world, which have disrupted financial systems and necessitated a more aggressive approach to expanding the country's revenue sources.

Speaker Romualdez concluded his address by reaffirming the commitment of the 19th Congress to work diligently in passing important legislation that aligns with President Marcos' vision and propels the nation's progress.
Jun 22, 2023
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