Makati Business Club supports the decision of President Duterte and his economic managers to maintain the rice liberalization policy even as they help farmers by improving mitigation measures and investigating reports of hoarding. We and other business groups are ready to assist the government with those.
Makati Business Club notes with hope President Duterte’s offer and Vice President Robredo’s acceptance of the co-chairperson position in the Inter-Agency Committee on Anti-Illegal Drugs (IADC). MBC hopes the President and Vice President work together to strengthen the rule of law in the war on drugs and provide more rehabilitation, education, and other programs to curb drug abuse, which the business community is ready to support.
Makati Business Club welcomes the Supreme Court’s decision to release the report on the test recount in the 2016 vice presidential election protest. We hope this is a step toward dismissing the protest, and reducing the political and judicial uncertainty that came with it – uncertainty that manifests in risk premiums for those who would invest in Philippine jobs and industries.
The Philippines slid 8 places to 64th out of 141 countries, from last year’s 56th spot in the 2019 Global Competitiveness Report of the World Economic Forum. This was due to its global competitiveness score dropping by 0.3, from 62.1 to 61.9 this year while other countries improved their scores. It also dropped to 6th from 5th among nine covered ASEAN countries due to the significant improvement in the scores of Brunei.
The Makati Business Club (MBC) thanks the House Committee on Constitutional Amendments and Chairman Rufus B. Rodriguez for inviting the business community to share their views on several legislative measures filed in the 18th Congress and now with the committee. The organization respectfully submits this position paper on HCR 1, HC 788, HJR 3, HJR 4, and RBH 2 covering federal government, foreign investment restrictions, the election of senators, and the election of an Acting President.