Last modified on July 5, 2023
July 05, 2023 – The Legislative-Executive Development Advisory Council (LEDAC) aims to pass 20 priority bills focused on crucial economic reforms by the end of the year. These reforms are intended to improve the country’s business climate for investors and advance human capital development.
“The 20 new priority bills are critical to achieving the goals outlined in the Philippine Development Plan 2023-2028 and the 8-Point Socioeconomic Agenda of the Marcos Administration,” said National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan.
In its second meeting for the 19th Congress held on July 5, 2023, the LEDAC, with President Ferdinand Marcos Jr. as Chair and NEDA serving as the Secretariat, agreed to prioritize the passage of the 20 bills by December 2023. Some of these bills are focused on improving regulations to promote further investments, such as the Amendments to the Build-Operate-Transfer Law, the Ease of Paying Taxes Bill, and the Internet Transactions Act/E-Commerce Law. Senate President Juan Miguel Zubiri and House Speaker Ferdinand Martin Romualdez were also in attendance to the meeting.
“With the commitment of both houses of Congress to pass these measures by year-end, we are getting closer to creating deep social and economic change in the Philippines. These bills will enable economic transformation that shall reinvigorate job creation in the country through investments, as well as mitigate the impact of economic shocks, such as sudden health crises,” said Balisacan.
The other priority bills aim to improve overall healthcare, such as the National Disease Prevention Authority Bill, the Medical Reserve Corps Bill, and the Virology Institute of the Philippines Bill.
The following are the 20 priority bills approved to be passed by December 2023:
- Amendments to the Build-Operate-Transfer Law/ PPP Bill
- National Disease Prevention Authority Bill
- Internet Transactions Act/E-Commerce Law
- Medical Reserve Corps Bill
- Virology Institute of the Philippines Bill
- Mandatory ROTC and NSTP Bill
- Revitalizing the Salt Industry Bill
- Valuation Reform Bill
- E-Government/E-Governance Bill
- Ease of Paying Taxes Bill
- National Government Rightsizing Program Bill
- Unified System of Separation, Retirement and Pension of Military and Uniformed Personnel (MUP)
- LGU Income Classification Bill
- Waste-to-Energy Bill
- New Philippine Passport Act
- Magna Carta of Filipino Seafarers
- National Employment Action Plan
- Amendments to the Anti-Agricultural Smuggling Act
- Amendments to the Bank Deposits Secrecy Law
- Anti-Financial Account Scamming Act
The LEDAC serves as a consultative and advisory body on specific programs and policies that are crucial for achieving the goals of the national economy. It also serves as a venue to facilitate high-level policy discussions on vital issues and concerns affecting national development.
Source: https://www.facebook.com/story.php?story_fbid=680898960732402&id=100064369135346&mibextid=WC7FNe&rdid=hAg9s2qCWHkcKqNw