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july28.2014 c.docBelmonte opens sessions with a commitment to sustained growth and reforms

july28.2014 c.docBelmonte opens sessions with a commitment to sustained growth and reforms

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Belmonte opens sessions with a commitment to sustained growth and reforms
Belmonte opens sessions with a commitment to sustained growth and reforms

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Published by: pribhor2 on Jul 28, 2014
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07/28/2014

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Belmonte opens sessions with a commitment to sustained growthand reforms
Stressing that so much more needs to be done, Speaker Feliciano Belmonte, Jr. today declaredthat “growth and social transformation must be sustained.”“Indeed, successes hae been astounding in the arena of our goernance. But, we face the bigger challenge of sustaining the economic growth, and consolidating the goernance reformsinitiated by the !"uino administration,” Belmonte said.#hen he banged the gael signalling the opening of the second regular session of the $ouseof %epresentaties of the &'
th
 (ongress, the Speaker took no time to spell out numerous legislatie priorities to accelerate inclusie growth and sustain the reforms for good goernance achieed in the past four years.Belmonte noted that to this day, )* years since the ratification of the &+* (onstitution,arious proisions hae yet to be fully operatie due to the absence of releant implementing laws.“-o opportunity must be missed, and no effort spared  this momentum of growth and socialtransformation must be sustained,” he insisted.!mong the priorities specified by the Speaker include/ 0a1 $B 23* or the “!ct prohibitingthe establishment of 4olitical 5ynasties, now up for plenary debate6 0b1 the Freedom of Information7aw, now awaiting final committee action6 0c1 the awaited passage of a
 Bangsamoro
 Basic 7aw thatshall establish a solid framework for genuine peace and enduring stability in 8indanao within the bounds of the (onstitution6 and 0d1 the proposed amendments to the restrictie economic proisionsof the (onstitution that constrain the flow of ital foreign direct inestments in strategic sectors inthe economy.Belmonte, likewise cited e"ually important legislatie measures intended to create a moreconducie enironment for the inflow of inestments, and generation of more and better 9obopportunities for the people.In particular the Speaker:s list consisted the following/ &1 a -ational (ompetition 7aw thatwould send the right signals to inestors who are looking for a leel playing field for business6 )1 the%ationali;ation of Fiscal Incenties and the <a= Incenties 8anagement and <ransparency !ct6 and21 the passage of amendatory bills on the Build >perate <ransfer 7aw, the (abotage 7aw, and the?lectric 4ower Industry %eform !ct or ?4I%!.7ikewise, the $ouse leader stressed the need to gie focus on the nation:s non@renewablenatural resources, making sure that the mining industry yields fair and reasonable priate gains thatwill redound to the competitieness and efficiency of the industry, while guaranteeing goernment:s 9ust and lawful share from the proceeds of economic actiities on natural resources without pre9udiceto the protection of the enironment.
NR # 3541CJULY 28, 2014

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