SPEAKER Martin G. Romualdez assured the business sector that the House of Representatives is committed to provide necessary legislation to support the agenda for prosperity of President Ferdinand Marcos Jr.

Romualdez in his remarks during the 2022 Asia CEO Forum, a gathering of captains of industry at Marriott Hotel in Pasay City, laid out measures that will help the Marcos administration achieve the goals of its prosperity roadmap.

Romualdez promised businessmen that they will be consulted on these legislative proposals.

“As stakeholders, you will be consulted in every measure that we tackle, especially those involving commerce and industry. Please make your positions very clear on the issues…as I want all stakeholders heard before we pass these measures,” Romualdez said.

He said the Marcos administration’s prosperity blueprint “has as its core mission the country’s economic transformation towards inclusivity and sustainability.”

Shortly after the convening of the 19th Congress in July, through Concurrent Resolution No. 2 it adopted the administration’s Medium-Term Fiscal Framework (MTTF) and 8-point socio-economic which comprise the roadmap for the Agenda for Prosperity, Romualdez said.

The Speaker pointed out that the President’s socio-economic development masterplan has started to achieve significant results.

Romualdez noted that the economy grew by 7.6 percent in the third quarter of this year, faster than the 7.5-percent expansion in the second quarter, with the country reported as the second best performer among major emerging economies in Southeast Asia.

He credited such growth to the Agenda for Prosperity and the “sound economic plan of our President and economic managers.”

“These encouraging figures strengthen our resolve, as lawmakers, to remain fully committed in supporting the Agenda for Prosperity with the necessary legislative measures,” Romualdez said.

He said the immediate focus of the House would be on helping the government boost domestic demand and increase the competitiveness of local production to sustain and further accelerate economic recovery.

According to him, the chamber has already passed the proposed P5.268-trillion 2023 national budget, which includes P1.528 trillion for economic services.

The Speaker informed his audience that the House has also approved House Bill (HB) No. 4339, which is the last component of the Comprehensive Tax Reform Package and which aims to simplify taxation of passive income, financial services and transactions by reducing the number of tax rates from 83 to 58.

The House has likewise approved the bills taxing single-use plastic bags and non-resident digital service providers, and the proposed Ease of Paying Taxes Act.

The President has signed into law the SIM Registration Bill that requires the registration of all mobile subscriptions, whether postpaid or prepaid to lessen mobile phone-aided scams and other illegal activities.