Biz groups push passage of key economic measures

Business groups are urging the incoming Congress to approve key economic measures, including the Magna Carta for Micro, Small and Medium Enterprises (MSMEs), to promote the country's competitiveness and enable businesses to grow.

- By Louella Desiderio

Following the midterm elections held on May 12, Philippine Chamber of Commerce and Industry (PCCI) president Enunina Mangio called on the new Congress to prioritize bills that will lead to a more inclusive economy and stronger business sector.

Among the measures being pushed by the PCCI is the Magna Carta for MSMEs to extend the mandatory allocation by banks of loans to these businesses.

The measure is also being pushed to remove the Bangko Sentral ng Pilipinas regulatory cover on Small Business Corp. so that it can provide MSME development loans in an out-of-the-box framework.

The PCCI also wants Congress to pass the International Maritime Trade Competitiveness Act, which seeks to regulate shipping charges to ensure these are based on international best practices, reasonable and subject to taxes.