A coalition of foreign business chambers has called on President Ferdinand Marcos Jr. to prioritize pending economic reforms and strengthen the implementation of recently enacted laws, saying these measures could strengthen the country’s competitiveness and investment environment.
In a letter submitted ahead of the president’s fifth State of the Nation Address (SONA) on Monday, July 27, the Joint Foreign Chambers (JFC) outlined legislative and executive priorities that it said would help address structural challenges affecting investment, productivity and economic growth.
The JFC—composed of the American Chamber of Commerce of the Philippines (AmCham), Canadian Chamber of Commerce of the Philippines (CanCham), European Chamber of Commerce of the Philippines (ECCP), Japanese Chamber of Commerce and Industry of the Philippines Inc. (JCCIPI), Korean Chamber of Commerce Philippines Inc. (KCCP), and the Philippine Association of Multinational Companies Regional Headquarters Inc. (PAMURI)—said the administration had already enacted several reforms long advocated by the business community, including the Konektadong Pinoy Act, the E-Governance Act, and amendments to the Investors’ Lease Act.
The group said the next challenge is ensuring that these reforms translate into “measurable gains in investment, productivity, innovation, and employment.”
Among the legislative measures the chambers urged the administration to pursue were amendments to the Electric Power Industry Reform Act (EPIRA), the proposed Cybersecurity Act, Digital Economy Act, Freedom of Access to Information Act, National Single Window System Act, National Land Use Act, Artificial Intelligence Act, Blue Economy Act, amendments to the Civil Aviation Authority of the Philippines Act and the Philippine Ports Authority Charter, the Holiday Rationalization Act, and the liberalization of foreign equity restrictions.
The chambers said reforms in energy, digital infrastructure, trade facilitation, transparency, and governance remain important to improving the country’s investment environment.
Beyond legislation, the JFC also called for stronger implementation of existing laws, including the CREATE MORE Act, Ease of Doing Business Act and Ease of Paying Taxes Act.
It likewise urged the government to review the implementation of Administrative Order No. 23 on the Digital and Integrated System for the Pre-Border Technical Verification and Cross-Border Electronic Invoicing of imported commodities, the Food and Drug Administration’s revised registration fees, and the Extended Producer Responsibility Act.
The chambers also recommended streamlining visa processes and travel requirements for foreign nationals and continuing stakeholder consultations on emerging food regulatory policies, including the Philippine Nutrient Profile Model.
The letter also encouraged the administration to continue pursuing free trade agreements with the European Union and Canada, saying these could expand export opportunities and strengthen the Philippines’ long-term competitiveness.
“The Philippines has made meaningful progress in advancing reforms that strengthen investor confidence and improve the business environment,” American Chamber of Commerce of the Philippines Executive Director Ebb Hinchliffe said.
“Continued action on competitiveness-enhancing reforms and effective implementation of existing laws will help attract more investments, create jobs, and sustain economic growth.”
The JFC said it remains committed to working with the administration, Congress, and relevant government agencies to advance policies that promote competitiveness, innovation, and economic opportunity for Filipinos.
