MBC Statement on PBBM's
Third State of the Nation Address (SONA)

11 July 2024 – MBC recognizes the efforts of the current administration to promote the Philippines as a key investment destination in order to create quality jobs and improve services. The Philippines has also made significant strides in improving its diplomatic initiatives in the past year with a significant increase in both state visits from the President as well as world leaders coming to the country. As a possible outcome of this, the Department of Trade and Industry recently announced that the administration has garnered $19 billion worth of investment pledges. 

We believe that there are important reforms that need to be done in order to turn these investment 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. In light of this, we respectfully advocate for the prioritization of the following reforms and hope that the President and the Cabinet will consider the acceleration of their passage: 

1. Apprenticeship Program Reform (SB No. 2491)
2. Enterprise-Based Education and Training Framework Act (SB No. 2587)
3. Philippine Downstream Natural Gas Industry Development Act (SB No. 2247)
4. People’s Freedom of Information (SB No. 1006)
5. Right-of-Way Act Amendments

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.  (END)