Belmonte stresses a need to re-focus on economic gains
and opportunities for continued development
Speaker Feliciano Belmonte, Jr. said today that Congress is ready to welcome President Benigno Aquino III or his State!o!the "ation Address #S$"A% &eore the 'oint session o the () th Congress on *onday, July +,. Physical and other related preparations are in ull swing or this constitutional e-ent in the nation.s political lie, during which the President will deli-er his report to the Filipino people on issues o national concern, according to Belmonte. /he Speaker made his rounds 0ednesday and has &een on top o preparations, while assuring the people that his leadership in the 1ouse will not &acktrack on its legislati-e priorities in the wake o current contro-ersies which he descri&ed were 2part o the pain we must endure in instituting genuine reorms in the pursuit o transparency, good go-ernance and all!inclusi-e growth3. Corollary to the President.s S$"A message, Belmonte underscored the -itality o local go-ernments. acti-e participation and role in national de-elopment. /he 1ouse leader stressed the need or e-ery Filipino to 2ha-e a sense o urgency in taking ad-antage o the opportunities that &eckon on us today3 rather than dwell on missed opportunities o the past. Belmonte stressed the need to re!ocus on gains and urther de-elop all our resources. 1e said creati-ity and inno-ation implemented at the national and local go-ernment le-els should 2catalyse the pro-ision o &etter ser-ices to the Filipino people and achie-e an all!inclusi-e growth.3 2/he attainment o all!inclusi-e growth remains a challenge or us all,3 he declared, adding that &ased on the latest orecasts, the nation will continue to e4pect a &uoyant economy in the wake o recent natural calamities. Barely a week &eore the opening o the second regular session o the () th Congress, the Speaker came up with a doa&le list o legislati-e priorities touching on -ital realms o economic de-elopment, in-estments and inance, inrastructure, education and human de-elopment and good go-ernance, among others. Aside rom his personal ad-ocacy to amend the restricti-e economic pro-isions in the Constitution as key to ma4imi5e the inlu4 o direct oreign in-estments in the country, the Speaker also re-ealed a &rieer on a package o reorms that the 1ouse is working on. NR # 3540C JULY 27, 2014 2/his reorm package is intended to impro-e the &usiness climate, create 'o&s, reduce po-erty, and oster transparency and accounta&ility, all rom the perspecti-e o our 'ourney towards inclusi-e growth,3 he stressed. /he &rie list includes6 a% measures to strengthen and enhance the unctions o the Bangko Sentral ng Pilipinas7 +% up!dating the /ari and Customs Code to acilitate and cur& a&uses and corruption in the Bureau o Customs7 8% /he proposed amendments to the Foreign In-estment Act to acilitate the lowering o minimum paid!in capital or oreign equity, and remo-ing di-estiture requirements or oreign in-estors7 9% pursue a Competition Policy to complement ongoing market!oriented reorms and institutionali5e an eecti-e domestic competition regime at all industry le-els. 2At the same time, we shall rationali5e and promote transparency in the grant o iscal incenti-es, ocusing on the o&'ecti-e o trade acilitation and in-estment promotion without pre'udice to iscal prudence,3 the Speaker added. 1e, likewise reiterated his commitment to pass the proposed Freedom o Inormation Act to 2oster greater transparency and accounta&ility in the go-ernment.3 :elati-e to inrastructure de-elopment, Belmonte assured that, together with their senate counterparts, 2we intend to pursue urther reorms that will impro-e the state o inrastructure in the country, including the cost and adequacy o power and water, as well as transportation and logistics.3 Inrastructure!related policy reorms include6 (% proposed amendments to the B$/ ;aw to acilitate greater in-ol-ement and participation o the pri-ate sector in meeting inra requirements7 +% re-iew and study on possi&le amendment to the Ca&otage ;aw to li&erali5e transhipment ser-ices7 8% a re-iew o the <PI:A to= determine what amendments are necessary to truly achie-e a sta&le, relia&le, aorda&le and transparent power supply market. In the area o equita&le and sustaina&le water management system, Belmonte said the 1ouse will pursue the measure strengthening the regulation o water utilities through the "ational 0ater :esources Board, ena&ling it to work &etter towards the de-elopment, conser-ation and protection o water resources. And nota&ly, as what happened in pre-ious years, the 1ouse is committed to passing the >eneral Appropriations Bill on time 2to acilitate the time roll!out o programs and pro'ects o the go-ernment3 Belmonte assured. #8=% dpt