NextGen Day

The business community in the Philippines-China was asked by Speaker Ferdinand Martin G. Romualdez on Friday to assist the government and Congress in creating more jobs so that Filipinos wouldn’t have to look for employment elsewhere.

In his speech at the 33rd Biennial Convention of the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCII), held at the Manila Hotel Tent City in Manila, Romualdez said, “We hope we can count on the support of the federation in our efforts to open up the Philippine economy and create more jobs here, so that there would be fewer and fewer of our countrymen who would grow up without their father or mother.”

He stated that the first bill submitted in the House was “to provide assistance to distressed businesses” since he was aware of the negative consequences the Covid-19 outbreak had on businesses.

The House Bill No. 1 (GUIDE) (Government Financial Unified Initiatives to Distressed Enterprises for Economic Recovery), which was enacted on the third and final reading and forwarded to the Senate, was the topic of the Speaker’s remarks. He is GUIDE’s primary author.

The “Pondo sa Pagbabago at Pag-asenso Act,” which aims to give sustainable and collateral-free financing to micro and small businesses, was also adopted by the House last Tuesday on third and final reading.

Additionally, we are advocating for the establishment of the Maharlika Investment Fund. (MIF). “Businesses can invest in the MIF alongside the government in viable instruments, with guaranteed dividends, and part of the profits ploughed back into strategic government projects,” the Speaker stated of the House version that was sent to the Senate.

The Speaker also noted that the House of Representatives has been passing legislation to enhance the business and investment climate in the nation and is trying to digitalise government operations to make doing business with the government simpler for individuals and corporations.

To make it simpler for more enterprises to establish operations in the nation, he stated, “We are currently pushing for the amendment of key economic provisions of the Constitution, which we view as restrictive.”

These are just a few of the initiatives the House of Representatives is working on. There is no doubt about it: we are determined to giving Filipinos a better future and offer effective, practical solutions to many of the development issues we confront, the House leader emphasised.

Romualdez also stressed the significance of cooperation in achieving the nation’s objectives and aspirations.

“In fact, by working together, we can achieve prosperity and progress far more quickly. The House of Representatives used the same strategy to make it easier to approve important bills to speed up the economic recovery. You can rest easy knowing that your legislators are aware of the crucial part that businesses play in sustaining a country’s progress.

The Filipino-Chinese business community was also honoured for its barrio (village) schools programme.

“The school facilities you have assisted in constructing go a long way towards guaranteeing that the nation may look forwards to an educated populace. Please accept our appreciation on behalf of the recipients for your dedication to and support of Philippine basic education, he said.

Romualdez pointed out that the road to long-term, equal development is difficult, and there will be obstacles and issues along the way.

But when we work together, the journey becomes much simpler. And when things are shared, our obligations become easier, he told the federation’s members.

“Please continue your charitable work supporting the Filipino people’s education and socio-civic programmes. We Filipinos owe you a huge debt of gratitude. We are extremely happy to be Filipinos thanks to you. You do, in fact, personify the unifying message for the Philippines, Romualdez stated.

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