Romualdez to business leaders: More reforms in pipeline for economic progress

Speaker Romualdez, speaking at the 44th ECOP National Conference, highlights the government’s ongoing reforms to boost business, attract investment, and create jobs, ensuring a brighter future for all Filipinos.

MANILA, Philippines–Speaker Ferdinand Martin Romualdez assured business leaders Tuesday that the government is preparing further reforms aimed at fostering an environment where businesses can prosper, attract investments, and generate jobs for Filipinos.

Addressing the 44th National Conference of the Employers Confederation of the Philippines (ECOP) at the Manila Hotel, Romualdez underscored the government’s acknowledgment of employers’ pivotal role in the nation’s 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,” Speaker Romualdez said.

Romualdez also expressed gratitude for the resilience and determination exhibited by business leaders during the Covid-19 pandemic. They kept businesses afloat, preserving millions of jobs amidst the crisis.

“On behalf of the 19th Congress and the Filipino people, I express my heartfelt gratitude and admiration for your courage and perseverance,” Romualdez said, adding, “Our President, Bongbong Marcos, 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.”

In efforts to enhance the country’s allure to investors and stimulate growth, Romualdez noted that Congress, in collaboration with the Marcos administration, is striving to cut red tape and promote ease of doing business.

He highlighted the advent of the digital economy, noting the government’s focus on the Digital Philippines program aimed at improving technological infrastructure and equipping the workforce with essential skills. This initiative is expected to unlock further job opportunities in the tech sector.

Moreover, Romualdez emphasized the government’s commitment to inclusive and sustainable economic growth, prioritizing sectors such as agriculture, manufacturing, and services that are vital for job creation, especially among marginalized communities.

In his address to foreign dignitaries, Romualdez pointed out that the Philippines, currently the fastest-growing economy in the world under the leadership of President Ferdinand Marcos Jr., is an attractive destination for investment.

He emphasized that the House of Representatives is striving to institutionalize necessary reforms.

Before the 19th Congress adjourned its First Regular Session, it approved 33 out of the 42 priority legislations in the Legislative-Executive Advisory Council’s (LEDAC) common legislative agenda. This includes the Maharlika Investment Fund bill, aimed at establishing the country’s first-ever sovereign investment fund, anticipated to be a significant source of funding for the administration’s key projects.

Romualdez urged the ECOP to maintain its partnership with the government to ensure sustained recovery and growth post-pandemic.

“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,” he said.

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