The Makati Business Club (MBC) welcomed the passage of three major reform bills aimed at boosting investor confidence, accelerating infrastructure rollout and improving government transparency.
It said in a statement the approval of amendments to the Right-of-Way Act, the Foreign Investors’ Long-Term Lease Act and the E-Governance Act would achieve the intended goal of enhancing the country’s competitiveness.
Under the lease act amendments, foreign investors may now lease private land for up to 99 years, up from the previous 50 years, while right-of-way reforms are expected to speed up land acquisition for infrastructure projects.
The E-Governance Act mandates government agencies to digitize services and records for greater efficiency and accessibility.
MBC said it remains a staunch advocate for improvements in governance, infrastructure, and transparency as key drivers to attract more investors, thereby creating more jobs.
