Government committed to fostering business-friendly environment

2023 June 27

BUSINESS-FRIENDLY ENVIRONMENT. Speaker Ferdinand Martin G. Romualdez delivers a speech during the 44th National Conference of the Employers Confederation of the Philippines (ECOP) at the Manila Hotel on Tuesday (June 27, 2023). Romualdez told the ECOP that the legislative and executive branches of government are committed to fostering a business-friendly environment. 


MANILA – Speaker Ferdinand Martin G. Romualdez on Tuesday assured the country’s business leaders that the executive and legislative branches of government are working hand in hand to create a favorable environment for businesses to thrive, attract investments and generate more jobs to prepare a better future for all Filipinos.

In his message at the 44th National Conference of the Employers Confederation of the Philippines (ECOP) held at the Manila Hotel, Romualdez noted that such policy direction is anchored on the government’s recognition of the employers’ crucial role in the country’s march to progress.

“The Philippine government, under the leadership of President Ferdinand R. Marcos Jr., recognizes this and is committed to fostering an environment that bolsters your efforts,” he said.

To make the country an attractive investment destination, Romualdez said Congress joined hands with the Marcos administration to cut red tape and promote ease of doing business, among others.

Recognizing the advent of the digital economy, he said a dual effort was made to champion the Digital Philippines program that seeks to enhance the country’s digital infrastructure and arm the workforce with the necessary digital skills, thus creating an avenue for more job opportunities in the technology sector.

“Moreover, we are committed to ensuring that our economic growth is inclusive and sustainable. We are prioritizing sectors like agriculture, manufacturing, and services, which are crucial for job creation, particularly for marginalized communities,” Romualdez said.

He said the House of Representatives has been working hard to institutionalize needed reforms, pointing out that the chamber approved 33 out of the 42 priority legislations in the common legislative agenda of the Legislative-Executive Advisory Council (LEDAC) before the 19th Congress adjourned its First Regular Session on May 31.

Among the approved measures was the Maharlika Investment Fund bill which seeks to create the country’s first-ever sovereign investment fund, expected to become a major source of funding for the administration’s big-ticket projects.

Addressing several foreign dignitaries present, the Speaker said now is the time to invest in the Philippines which has the fastest-growing economy in the world, apart from having a very popular leader in Marcos.

At the same time, Romualdez thanked business leaders for their resilience and fortitude in facing the challenges of the pandemic by keeping their businesses afloat to ensure millions of Filipinos have a source of income.

“Our President and we in the 19th Congress recognize and appreciate your significant role, not only as economic drivers but as stalwart partners in navigating these tumultuous times. We’ve seen firsthand your determination to keep the Philippine economy resilient amidst the global crisis,” he said.

“On behalf of the 19th Congress and the Filipino people, I express my heartfelt gratitude and admiration for your courage and perseverance,” he added.

He also exhorted the ECOP to continue its partnership with the government to ensure sustained post-pandemic recovery and growth.

“I am confident that with the continued collaborative efforts of the Marcos administration, the 19th Congress, and the Employers Confederation of the Philippines, we can achieve a prosperous and resilient economy, offering a brighter future for all Filipinos,” Romualdez said. 

Jose Cielito Reganit (PNA)