AMENDMENTS to the Investor’s Lease Act have enhanced the investment climate, the Joint Foreign Chambers (JFC) said.
The JFC added that other recent reforms like the E-Governance Act and the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act “will foster a more stable, predictable, and competitive business environment.”
“These reforms signal the government’s strong commitment to unlocking the country’s economic potential, and the JFC commends President Ferdinand Marcos, Jr. and the Philippine Congress for their leadership in advancing them,” the JFC said in a statement on Wednesday.
It said the E-Governance Act will help reduce red tape, increase efficiency, and improve transparency.
Meanwhile, the extended lease period allowed by the amended Investor Lease Act provides foreign investors with long-term certainty, encouraging major investments.
The new mining fiscal regime simplifies tax policies for the industry and establishes a fair and transparent fiscal framework designed to attract responsible mining investment.
“The JFC applauds these transformative reforms, which together represent major steps toward building a more competitive, inclusive, and prosperous future for the Philippines,” it added. — Justine Irish D. Tabile