Category: Business Mirror

The Maharlika Investment Corporation (MIC) is targeting full membership in the International Forum of Sovereign Wealth Funds (IFSWF) in 2027 as it seeks to align its operations with globally recognized standards for governance, transparency and accountability.

MIC President and Chief Executive Officer Rafael D. Consing Jr. said the country’s sovereign wealth fund has spent the past two years institutionalizing the Santiago Principles, a set of internationally accepted governance and operational standards for sovereign wealth funds.

‘It’s a critical step in order for us to embody that commitment,’ Consing told reporters.

He said MIC must pass a comprehensive 360-degree audit before it can be admitted as a regular member of the IFSWF.

‘Once we’re able to pass this audit, then we would be able to achieve a seal of good housekeeping… or build credibility for the fund moving forward,’ he said.

The MIC applied for IFSWF membership in July 2024 and was accepted as an associate member, giving it three years to implement the Santiago Principles before qualifying for regular membership.

Consing noted that adherence to the Santiago Principles is mandated under Republic Act No. 11954, which created the Maharlika Investment Fund.

The principles cover governance, investment practices, reporting standards and operational management among sovereign wealth funds.

To support its institutional development, MIC signed a memorandum of understanding with Ithmar Capital, Morocco’s sovereign wealth fund.

Under the agreement, the two institutions will exchange best practices and conduct benchmarking and capacity-building activities in areas such as communications, human resources, corporate planning, internal audit and other institutional support functions.

A joint steering committee will oversee a 12-month benchmarking program.

Consing said Ithmar Capital was chosen because of its experience in governance and institutional development.

‘This partnership reflects our belief that sovereign wealth funds can grow stronger together by exchanging expertise, upholding sound governance, and advancing sustainable development,’ said Ithmar Capital Chief Executive Officer Obaid Amrane, who also serves as chairman of the IFSWF.

‘We look forward to supporting MIC on its journey while deepening the ties between Morocco and the Philippines,’ he added.

Consing said the partnership could eventually lead to co-investment opportunities between the Philippines and Morocco in sectors of mutual interest.

‘I’m hoping that this relationship will truly grow, not just in terms of our collaboration in principles and practices and governance and transparency, but in fact one day being able to co-invest in industries that might be beneficial to both,’ he said.

Mreit Inc., the real estate investment trust (REIT) of property developer Megaworld Corp., is embarking on its largest asset infusion of Andrew Tan’s properties to date consisting of mall, hotel and office assets through a property-for-share swap transaction valued at P27 billion.

The transaction will be implemented through a property-for-share swap with Megaworld.

Travellers International Hotel Group Inc. and Southwoods Mall Inc. at a subscription price of P16.50 per share.

This represents an 18-percent premium over the 30-day volume-weighted average price.

The transaction represents the fifth wave of asset infusions into the company. Once approved by the Securities and Exchange Commission (SEC), this will bring Mreit’s total assets under management to P122 billion. The asset infusion will add 303,900 square meters of gross leasable area (GLA) to Mreit’s portfolio.

Upon completion, Mreit portfolio will reach 950,000 square meters of GLA, close to the 1 million-square-meter target set for 2027.

The retail component includes five shopping malls with a combined gross leasable area of 160,200 square meters, representing 53 percent of the infusion.

These are Festive Walk Mall at Iloilo Business Park in Iloilo City; Lucky Chinatown Mall in Binondo, Manila; Venice Grand Canal Mall in McKinley Hill, Taguig; Eastwood Mall in Quezon City; and Southwoods Mall in Biñan City, Laguna.

These malls are established destinations within Megaworld’s integrated urban communities.

Their inclusion gives Mreit’s shareholders direct exposure to consumption-driven upside, supported by the sustained strength of foot traffic and retail activity. The infusion also includes the 737-room Holiday Inn Express Manila Newport City, the biggest hotel in Newport City in terms of room keys, with 26,500 square meters of GLA, accounting for 9 percent of the total infusion.

The office component consists of six office assets totaling 117,200 square meters of GLA, or 38 percent of the infusion.

These are Science Hub Tower 2 and Venice Corporate Center in McKinley Hill; Six West Campus in McKinley West in Taguig City; One Paseo in ArcoVia City in Pasig; Global One in Eastwood City; and Horizon Center in Newport City.

The current infusion of assets has a blended occupancy rate of 91 percent and a weighted average lease expiry of 5.3 years.

This year, asset infusion into the company reached P43 billion, including the P16.2-billion completed in the first quarter.

As retirement becomes a family decision, SMDC offers homes that make the next chapter easy, exciting, and enduring.

In many countries, retirement planning is treated as a personal milestone. One decides where to live, how to spend the years ahead, and what kind of lifestyle to pursue.

In the Philippines, it often takes more than one person to decide.

A parent thinks about coming home. A daughter checks the payment terms. A son asks if the hospital is nearby. A sibling abroad wants to know if the unit can be leased. Someone asks about the mall. And if there are apos in the chat, the pool usually gets mentioned.

It is a familiar Filipino scene, but it points to a larger real estate shift. As the Philippines gains attention as a retirement destination, the conversation is no longer only about retirees. It now includes balikbayans preparing to return, OFWs securing a future home base, children buying for parents, and families looking for a property that can serve more than one purpose over time.

For SM Development Corporation (SMDC), this makes retirement real estate less about selling a unit and more about supporting the way Filipino families actually plan for life.

‘For Filipino families, retirement is not just an individual milestone. It is a family decision shaped by care, access, and peace of mind,’ said Jessica Bianca Sy, Vice President and Head of Innovation, Design and Strategy of SMDC. ‘At SMDC, we look at retirement through three things: making it easy through connected and secure communities, exciting through amenities and access to the SM ecosystem, and enduring through homes that can continue to serve families across life stages.’

This is why the idea of a retirement home is also changing. It is no longer defined only by size, scenery, or a quiet address. For many buyers, the right home must make daily life easier. It should be close to essential services, healthcare, shopping, transport, leisure, and family. It should feel secure and well managed. It should also be flexible enough for use now, for parents later, for balikbayan visits, or for long-term leasing and investment.

SMDC’s residential portfolio responds to these different needs. SMDC Heights offers highly connected vertical living for those who want to remain close to city conveniences, business districts, malls, hospitals, and transport. SMDC Nature offers calmer communities with open spaces and a more relaxed everyday environment. SMDC Symphony Homes provides a house-and-lot setting for families looking for a grounded homecoming address.

Together, these choices allow buyers to match a home not only to a budget, but to a life stage and family plan.

For OFWs and balikbayans, a home in the Philippines can be secured years before retirement. It can be used during visits, kept for family, leased while waiting for the right time, or prepared as the address one eventually returns to. For children buying for parents, the decision is equally personal: comfort, convenience, and independence, with family never too far away.

This is the uniquely Filipino retirement story. Major life decisions rarely happen in isolation. They carry the hopes, opinions, and practical concerns of the people around us.

As more people look at the Philippines as a place to retire, return, or invest, the question becomes more personal: not only where to live, but what kind of home can support the life ahead.

Today, July 27, President Marcos delivers his penultimate SONA-his fifth, with only two more years and one more address left in his term. Five issues deserve more than a passing mention. These are, of course, not the only problems the nation is grappling with. Traffic remains crippling, the West Philippine Sea dispute simmers, inflation still bites, and the flood-control corruption scandal continues to unravel.

But artificial intelligence, creative professionals’ welfare, education, healthcare, and disaster preparedness should also be prioritized. These determine how well Filipinos learn, earn, heal, and survive whatever the next crisis brings.

One, artificial intelligence. The world is racing ahead, and we are barely walking. The 20th Congress is sitting on roughly 40 House bills and seven Senate bills seeking to regulate AI, yet the Philippines still has no central AI law; only a National AI Strategy approved last year and a patchwork of proposals for a Philippine Council on Artificial Intelligence. A proposed DOLE job-displacement program for workers automated out of their jobs exists only on paper. We are adopting AI faster than we are learning to govern it.

Two, creative professionals and freelance workers. The Philippines is one of, if not the fastest-growing freelance market in the world, with millions of Filipinos earning a living without contracts, benefits, or a safety net. These are our virtual assistants, writers, designers, riders, and so on. House Bill 1988, the freelance workers’ protection measure, and the POWERR bill for riders and online workers have been filed, re-filed, and endorsed by the ILO’s own Decent Work in the Platform Economy Convention. But it’s still pending. Our creative and digital workforce deserves so much more than this.

Three, education. This is the most damning number of all: only 70.8 percent of Filipinos aged 10 to 64 are functionally literate, according to the PSA’s 2024 FLEMMS survey. That means nearly one in three of us can read words without truly understanding them. The World Bank estimates 91 percent of our 10-year-olds cannot read and comprehend a simple story. EDCOM 2 found learning proficiency collapsing from 30.5 percent in Grade 3 to a mere 0.47 percent by Grade 12. Eighteen million high school graduates are functionally illiterate.

Four, healthcare. Advocates and lawmakers have been pleading, again, ahead of this SONA: raise the excise taxes on sweetened beverages and alcohol, pass HB 5003 and the Alcohol Tax Reform Bill, and use the revenue to properly fund PhilHealth and the Universal Health Care Act instead of leaving public hospitals and barangay health workers underfunded. Filipinos are getting sicker from what they eat and drink while the reforms that could fund their care sit in committee.

Five, disaster and climate readiness. The Philippines topped the WorldRiskIndex again as the world’s most disaster-prone nation, and ranks seventh in Germanwatch’s Climate Risk Index, with 371 extreme weather events and 27,500 deaths between 1995 and 2024 alone. A 7.8-magnitude earthquake off Mindanao killed dozens just weeks before this SONA. And billions meant for flood control were instead lost to the corruption scandal the President himself exposed last year.

So many months and so much money have gone into bickering in the Senate and the Lower House, into debates on matters that should never have taken priority, into politicking and the protection of personal agendas. Perhaps it is time, in these final years, for a legacy worth being proud of.

BUSINESS groups largely gave President Ferdinand Marcos Jr.’s fifth State of the Nation Address (Sona) a passing grade on Monday, but said the real test begins after the applause, with execution, funding and policy follow-through now under the spotlight.

The Management Association of the Philippines (MAP) said the President touched on many of the priorities long raised by the business community, including job creation, food security, affordable energy, health care, support for micro, small and medium enterprises (MSMEs), and improved government services.

‘We are encouraged that he addressed key priorities such as job creation, food security, affordable energy, health care, MSME support, and improving government services,’ MAP President Donald Patrick Lim said in a statement after the Sona.

‘These are the right priorities and are aligned with many of the concerns consistently raised by the business community,’ he added.

Lim, however, said businesses are now looking for clear implementation timelines, policy consistency and closer collaboration between government and the private sector.

He also noted that tourism-one of the country’s major economic drivers-was absent from the President’s address.

‘We hope this is complemented by a stronger emphasis on long-term economic reforms that improve the investment climate, strengthen MSMEs, accelerate infrastructure and digital transformation, and make the Philippines more competitive globally,’ he said.

Lim added that Congress should promptly translate the administration’s priorities into legislation while the Executive ensures programs are implemented efficiently and their benefits reach ordinary Filipinos.

Philippine Chamber of Commerce and Industry chairman emeritus Sergio Ortiz-Luis Jr. echoed the generally positive assessment but questioned whether the government has the fiscal capacity to deliver on the commitments outlined in the speech.

‘From the business point of view, he answered almost everything we have been asking for-and even added more,’ Ortiz-Luis said in a televised interview after the Sona.

However, he said he did not hear any specific plans to strengthen tourism or expand export promotion and product development.

Ortiz-Luis renewed his call for greater support for MSMEs, saying the sector remains among the most underfunded in Asia despite its significant contribution to the economy.

‘I hope there is a plan to source the funding for all these programs,’ he said.

Also, the Federation of Philippine Industries (FPI) said targeted assistance remains necessary for manufacturers and small businesses as inflationary pressures continue to weigh on operations.

‘Sustaining MSMEs means protecting jobs and keeping local supply chains intact,’ FPI chairman Elizabeth Lee said in a statement.

‘By cushioning enterprises against rising costs, we can soften the blow of weakening demand while preserving employment and production capacity. The dual impact-jobs retained and supply chains stabilized-helps maintain confidence in the domestic market and shields industry from deeper contraction,’ she added.

Lee also said the administration’s emphasis on ease of doing business, Green Lanes and strategic investment initiatives such as Pax Silica provides a clear direction for industry, although businesses will be watching how these policies are carried out.

‘Ultimately, this Sona laid down benchmarks for accountability and competitiveness. The priority now shifts to swift execution-lowering operational costs, cutting red tape, and ensuring reforms translate directly to the factory floor,’ she said.

The Aurora Pacific Economic Zone and Freeport Authority (Apeco) welcomed the administration’s energy agenda, saying more reliable power will strengthen the ecozone’s ability to attract investments.

Apeco President Gil Taway IV said the agency plans to support the government’s energy initiatives by opening the ecozone to investments in renewable energy generation, battery energy storage, power distribution infrastructure and other emerging clean-energy technologies.

Trade, industry agenda

In his address, President Marcos underscored supply chain resilience, trade diversification and industrial upgrading as key components of the administration’s economic strategy.

He highlighted the planned Pax Silica Industrial Hub in New Clark City, describing it as an artificial intelligence-centered manufacturing and logistics ecosystem under the United States (US)-led Pax Silica Initiative and a cornerstone of the Luzon Economic Corridor.

Government projections estimate the project could attract $40 billion to $70 billion in investments, create 130,000 to 190,000 direct jobs, and generate another 500,000 to 800,000 indirect and induced jobs across supporting industries and supply chains.

The chief executive also affirmed the country’s commitment to expanding trade through free trade agreements, citing the implementation of the Regional Comprehensive Economic Partnership (RCEP) and the conclusion of a Comprehensive Economic Partnership Agreement (Cepa) with the United Arab Emirates.

The Philippines now has 23 free trade agreements either in force or under negotiation, which include the recently concluded Cepa negotiations with Chile, alongside ongoing talks with the European Union, Canada and India, as well as the review of the Philippine-Japan Economic Partnership Agreement.

He also said the government’s Green Lanes initiative has facilitated more than P6 trillion worth of strategic investments over the past three years, with projects projected to create over 400,000 jobs.

Since Executive Order 18 took effect in February 2023, at least 239 strategic investment projects worth P6.32 trillion have been certified under the program, per data from the Board of Investments.

Marcos also said the government maintained adequate fuel supplies despite disruptions affecting the Strait of Hormuz by diversifying oil import sources, adding that the country has enough inventory to meet demand for nearly two months.

On manufacturing, Marcos reiterated the administration’s push to accelerate electric vehicle adoption through zero tariffs on electric vehicle (EV) imports until 2028 and a directive requiring government agencies to prioritize EVs in fleet replacement.

He also identified pharmaceuticals, advanced manufacturing, technology, logistics and luxury goods among the industries the government aims to develop further.

BORROWINGS by the Marcos Jr. administration more than doubled in June from a year earlier in the state’s scramble to meet government financing needs despite rising interest rates.

The government’s gross borrowings surged by 119.54 percent to P579.569 billion in June from P263.991 billion in the same month last year, latest data from the Bureau of the Treasury (BTr) revealed.

The government ramped up its domestic borrowings as it doubled year-on-year to P342.979 billion from P167.579 billion.

Domestic debt issuances for the month consisted of P182.540 billion in net Treasury bills and P160.439 billion in fixed-rate Treasury bonds.

Meanwhile, offshore borrowings jumped by 145.39 percent to P236.590 billion in June from P96.412 billion a year ago.

The Philippines issued its second US dollar bond offering last June, shortly after the interim deal between Washington and Tehran to end the war, and raised a total of $2.5 billion from the triple-tranche global bonds.

About P22.221 billion in project loans and P61.284 billion in program loans were also secured by the government during the month.

Those brought the total gross borrowings for the first half of the year to P1.821 trillion, 14.45 percent higher than the P1.591 trillion in the same period a year ago.

Peso-denominated borrowings grew by 7.31 percent to P1.276 trillion in the six-month period from P1.189 trillion a year earlier.

On the other hand, financing from foreign sources amounted to P544.802 billion as of end-June, up by 35.40 percent from P402.351 billion in the prior-year period.

Government bond yields have climbed as investors took into account geopolitical risk premium since the escalation of the Middle War conflict, with the 10-year yield rising by a cumulative 110 basis points and the 5-year by 104.5 basis points after the Bangko Sentral ng Pilipinas resumed tightening last April.

‘Markets continue to reprice for higher oil-driven inflation and another BSP hike,’ UnionBank said in a note. ‘Our measure of cumulative yield increases since the BSP’s April tightening pivot indicates the adjustment process is rather advanced, even at the front end.’

Borrowing mix

ACCORDING to National Treasury Sharon P. Almanza, the government has revised its borrowing mix in response to market conditions and the Middle East conflict.

‘Given the current scenario and also we’ve been monitoring the liquidity, [and] how the rates have changed, we’ve slightly shifted our financing,’ Almanza said in a televised news program last week.

From the original 75:25 financing mix, the government will now source 70 percent of its borrowings from domestic sources, while 30 percent will be borrowed externally, Almanza said.

‘Raising funds for the government is not an easy task,’ she said. ‘We don’t want to put more pressure on the rates.’

Almanza added that interest rates remain her primary concern as Treasury seeks to fund government operations while keeping the budget deficit on a fiscal consolidation path.

The government plans to raise a total of P2.682 trillion this year, higher by 3.15 percent than last year’s P2.6-trillion financing target.

More than 40 lawmakers have committed to advancing long-term education reforms that can continue beyond changes in administrations and Congress, saying sustained legislative action is key to improving the country’s education system.

During the Congressional Forum on Philippine Education Reform at the University of the Philippines Bonifacio Global City, legislators signed a Statement of Commitment supporting priority education measures, stronger oversight, and evidence-based policymaking.

House Committee on Higher and Technical Education Chairperson and EDCOM II Co-Chair Rep. Jude Acidre said reforms should not end when the Second Congressional Commission on Education (EDCOM II) completes its mandate, noting that meaningful change requires continuity across political terms.

‘A child entering Kindergarten this year will finish Senior High School in 2039. That child will pass through three more presidencies and several Congresses, while government continues to plan in three-year political cycles,’ Acidre said.

To support this, lawmakers launched the Congressional Alliance for Philippine Education (CAPE), which will serve as the legislative arm of the proposed Philippine Education Reform Movement (PERM), a multi-sectoral initiative aimed at sustaining education reforms.

Acidre also announced the creation of the Congressional Education Policy Academy (CEPA), in partnership with the University of the Philippines Center for Education and Development, to strengthen Congress’ capacity to craft evidence-based education policies.

Meanwhile, EDCOM II Co-Chair Rep. Roman Romulo has previously underscored the importance of strengthening foundational learning, particularly reading comprehension.

‘Reading comprehension is the cornerstone of learning: a child who reads with understanding is better able to learn mathematics, science, social studies, and other subjects,’ Romulo said in an earlier news release.

FPJ Panday Bayanihan Party-list Rep. Brian Poe also expressed support for EDCOM II’s reform agenda, saying sustained commitment is necessary to improve the quality of education in the country.

‘Education reform does not end with a single commitment. The steps toward achieving quality education must be pursued consistently and upheld with conviction,’ Poe said.

Car-Free Sunday at Ayala Triangle Gardens looked a little different. Instead of the usual joggers and cyclists having the road to themselves, Makati woke up to roughly 8,000 runners lacing up for the Angat Bayanihan Run, the organization’s flagship fun run, and this year, the official kickoff to the year-long countdown to its fifth anniversary. According to the organizers, the run aims to raise funds for Angat Buhay’s community-driven programs while promoting volunteerism.

Angat Buhay has never really been about the finish line. Since it started in 2022, the organization founded by former Vice President Leni Robredo has built its name on bayanihan-the idea that if you’re going to help, help well. This run is the physical version of that idea: every 1K, 3K, 5K, and 10K stride doubling as support for the organization’s community programs across the country.

Naga City Mayor Leni Robredo, who also chairs Angat Buhay, was there in person to thank the participants and organizer. When she went up onstage, the crowd broke into applause. She extended her apologies for not being able to run that morning herself.

‘Ang Angat Bayanihan ay parte ng Angat Buhay [Foundation]-ito yung volunteer groups that we launched after Angat Buhay. Almost all provinces in the country meron po tayong Angat Bayanihan chapters lalong lalo na po pag sakuna,’ said Mayor Robredo.

She also announced the upcoming runs slated to happen for Naga, Iloilo, and General Santos in the latter part of this year, so Ayala Makati was really just the starting point for a bigger, nationwide year.

Adding to the festivities, Drag Race Philippines stars Brigiding, Precious Paula Nicole, and Viñas DeLuxe, collectively called the Divine Divas, brought a full drag performance to the activity area after the race.

A first for Philippine Fun Runs

Somewhere between the water stations, runners hit something Philippine fun runs had not done before: an SPF reapplication station. Right alongside the familiar Pocari-sponsored hydration stop, Hello Glow set up shop with its mattifying sunscreen spray, letting runners top up their sun protection mid-route the same way they’d top up on electrolytes.

This run was built entirely on the premise of showing up for your community, and giving runners one more reason to take care of themselves through an SPF retouch station along the way felt right at home. Hello Glow also sent runners off with caps and shades to keep the sun off their faces long after the race ended-all in the name of UV protection, and in the same spirit of volunteerism the run itself was built on.

At the finish line, each runner received an intricately designed Angat Bayanihan finishers medal. At the exhibitors’ area, Ever Bilena prepared congratulatory cards paired with a tinted lip balm for every finisher, serving as a small, sweet reward for crossing the finish line!

And tucked into every Angat Bayanihan tote bag was a small survival kit for the day and beyond-a c-lium husk sachet sampler, an Ever Bilena Daily Dose Dewy Balm with SPF 50 PA+++, and a Hello Glow Sun Care Stick SPF 50+.

‘We’re delighted to be part of the meaningful fun run organized by the Angat Buhay Foundation. We hope the Ever Bilena and Hello Glow products we gifted to participants added to the excitement and gave them an extra boost as they crossed the finish line,’ shared Denice Sy, chief sales and marketing officer of Ever Bilena Cosmetics Inc.

The House of Representatives will proceed with deliberations on the proposed 2027 national budget despite the ongoing impeachment trial of Vice President Sara Duterte in the Senate, House Majority Leader Ferdinand Alexander ‘Sandro’ Marcos said Monday.

Marcos said the impeachment proceedings would not disrupt the chamber’s legislative agenda as lawmakers prepare to receive the proposed National Expenditure Program (NEP) and begin reviewing next year’s spending plan.

‘The impeachment proceedings are not in the House. We will continue doing our job,’ Marcos said in an ambush interview.

He said the trial, which is being conducted by the Senate, would not affect the House’s work on the budget and other legislative measures.

‘I don’t think it will affect [the deliberations]; at least I can only speak on behalf of the Lower House. It will not affect what we have to do and what needs to be done,’ he said.

The executive branch submits the NEP to Congress as the basis for the General Appropriations Bill. The House Committee on Appropriations reviews the government’s fiscal assumptions and proposed spending before conducting agency budget hearings.

‘As you know, the budget is the single most important piece of legislation for both the House and the Senate,’ Marcos said.

He said the administration is expected to transmit the proposed spending program in August, allowing the House to immediately begin budget briefings and agency-level deliberations.

‘Now we are expecting the NEP to be turned over sometime next month, hopefully not too late, but hopefully the NEP turnover will be sometime in August. Then we can proceed with the budget briefings,’ he said.

Marcos also vowed to continue reforms adopted during last year’s budget process to enhance transparency and encourage greater participation from civil society organizations.

‘The Committee on Appropriations introduced several measures to make the budget process more transparent. We will ensure that different civic groups are involved in shaping and analysing the budget,’ he said.

‘We will continue all the reforms that were already implemented last year,’ Marcos added.

AS Congress opens the Second Regular Session of the 20th Congress, the House of Representatives is ramping up efforts to pass the remaining half of the administration’s priority bills-measures intended to support the programs of President Marcos in the final two years of his term and ‘help our people as well.’

House Majority Leader Ferdinand Alexander Marcos said the chamber will focus on passing the remaining 26 out of the 52 priority measures endorsed by the Legislative-Executive Development Advisory Council (Ledac) after approving half during the First Regular Session.

‘We have so far passed 26 measures, or half of our target, during the First Regular Session of the 20th Congress. We will work on approving the rest in the course of our second regular session,’ he said.

The legislative push comes as the House, under Speaker Faustino Dy III, aligns its priorities with the development agenda of the administration, with measures aimed at delivering structural reforms and improving public services.

Marcos stressed that the pending bills are designed not only to support the administration’s programs but also to directly benefit Filipinos.

‘We will ensure that these proposed laws will help our President and, more importantly, ease the lives of our people,’ he said.

Among the key measures still in the pipeline are amendments to the Universal Health Care Act, which seek to expand access to healthcare services, as well as reforms targeting specific sectors such as coconut farmers and micro, small, and medium enterprises (MSMEs).

The House is also advancing proposals aimed at strengthening transparency and governance, including amendments to the Bank Secrecy Law and the Anti-Money Laundering Act.

‘People should feel and experience the benefits provided under our laws,’ Marcos added.

Status report

A STATUS report from the House Committee on Rules shows that legislative work on the remaining priority bills is already at various stages.

Of the 26 pending measures, one-the proposed Cybersecurity Act-is already scheduled for plenary action, while another is awaiting a committee report. Nine bills are currently under review by the Committee on Appropriations, and the remaining 15 are still being tackled at the technical working group or committee level.

The bicameral conference committee report on the amendments to the Universal Access to Quality Tertiary Education Act has already been ratified.

Three measures are under conference committee deliberations: the National Center for Geriatric Health, amendments to the Government Assistance to Students and Teachers in Private Education Act, and the Assistance to Individuals in Crisis Situations (AICS) Act.

Twenty-one bills have been approved on third and final reading: Right to Information, Electric Power Industry Reform Act (Epira) Amendments: Energy Regulatory Commission Strengthening, Waste-to-Energy (Waste Treatment Technology and Regulatory Framework) bill, amendments to the National Building Code, Blue Economy Act, National Reintegration Bill, amendments to the Teachers Professionalization Act, Presidential Merit Scholarship Program, extension of Estate Tax Amnesty Period, Department of Water Resources Bill, amendments to the Bank Deposits Secrecy Law, Travel Tax Abolition, Digital Payments Act, amendments to the Biofuels Act, and National Land Use Act.

Approved

THESE measures have already been approved on third reading: amendments to the Pantawid Pamilyang Pilipino Program (4Ps) Act to strengthen and expand its coverage; the Anti-Political Dynasty bill; the measure strengthening the Bases Conversion and Development Authority; the proposed Anti-Online Sexual Abuse or Exploitation of Children (OSAEC) and Anti-Child Sexual Abuse or Exploitation Materials (CSAEM) Act; the Anti-Fake News and Disinformation Act; and amendments to the Masustansyang Pagkain Para sa Batang Pilipino Act.

Of the 26 pending priority measures, one-the Cybersecurity Act- is now in the calendar of business, while another (Disqualifying Relatives of Officials [up to 4th Degree] in Government Contracts) is for the filing of a committee report.

Nine bills are for comments on or transmittal to the Committee on Appropriations: Modernizing the Bureau of Immigration, amendments to the Magna Carta for MSMEs, Classroom-Building Acceleration Program, Reprogramming of Seal of Good Local Governance, Modernizing the Civil Registration System, Citizen Access and Disclosure of Expenditures for National Accountability Act, Disaster Risk Financing Insurance, Magna Carta for Barangay, and Master Plan for Infrastructure and National Development.

The remaining 15 are under technical working group or committee deliberation: Amendments to the Universal Health Care Act, Excise Tax on Single-Use Plastics, Amendments to the Rice Tariffication Law, Creating the Independent People’s Commission, Amendments to the Fisheries Code, Amendments to the Local Government Code (Special Education Fund), and Law on Online Gambling.

The following bills are also under consideration: Amendments to the Coconut Farmers and Industry Trust Fund Act, General Tax Amnesty, Progressive Budgeting for Better and Modernized Governance Act, Fair Use of Social Media, AI, and Internet Technology in Elections, Amendments to the Downstream Oil Industry Deregulation Law, Requiring Civil Servants to Waive Bank Secrecy, Amendments to the Anti-Money Laundering Act, and Party-List System Reform Act.

Momentum

THE House is set to resume sessions on Monday, with at least two measures-including cooperative reforms and the proposed National Thanksgiving Day-ready for plenary voting once proceedings reopen.

Marcos said the chamber deliberately prepared its legislative pipeline ahead of the break to ensure faster action when sessions resume.

‘President Marcos gave Congress a focused development agenda, and Speaker Faustino G. Dy III organized the House to move that agenda from committee work to plenary action with discipline and urgency. We are resuming session with measures already prepared for decision because legislative time must produce concrete results for the Filipino people,’ Marcos said.

The second regular session will open on the morning of July 27, alongside the President’s State of the Nation Address (Sona) scheduled at 4:00 p.m.

The leadership aims to accelerate the passage of the remaining Ledac priorities before the end of the year, reinforcing its commitment to translate the administration’s agenda into enacted laws.

‘President Marcos expects the legislative and executive branches to keep pace with the needs of the country. These three bills are part of a larger production line that includes Ledac priorities, urgent national reforms, and measures already moving toward bicameral deliberation or Senate action,’ Marcos said.