Statements

We, the undersigned business organizations, appeal to our legislators to weigh carefully the costs, risks and uncertainty associated with the proposed monumental shift to a federal system of government.

We, too, believe in the need to adhere to the public finance principle ‘funds follow function’. Accordingly, we echo the concerns of fiscal and economic experts about the ambiguous provisions on the division of revenue and expenditure responsibilities between the proposed federal government and its federated regions.

Microsoft Word - Joint Position Paper on Federalism_FINAL.docx

June 18, 2018 –We, the undersigned Philippine Business Groups, respectfully submit this position paper on the government’s plan to shift to a federal system.

Our economy has achieved robust expansion in recent years, and it is imperative, in the interest of more inclusive growth, that we continue to improve on our competitiveness and our ability to attract job-creating investments through stable policies and reduced uncertainty.

The Makati Business Club calls on the country’s political and judicial leaders to let the House of
Representatives and, if so determined, the Senate follow the impeachment process set forth in the
Constitution against Chief Justice Maria Lourdes Sereno. Regardless of the outcome of the process,
giving the chief justice the chance to defend herself within our constitutionally-defined process is
essential to demonstrate this country’s respect for the rule of law and to assure all Filipinos that we are
protected by our laws.

27 September 2017 – The Global Competitiveness Report 2017-2018, published today, sees the Philippines going up in global competitiveness rankings by 1 notch, from 57th in 2016 to 56th in 2017. However, the country has slid down the ASEAN rankings, now standing at the 7h out of 9 in the region, from 5th in 2016 (as
Myanmar has not been included in the Report since 2016). With this two-point drop in regional standing, the Philippines is now below Vietnam and Brunei Darussalam, which both made large strides in their respective competitiveness rankings