Yap bats for faster internet

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Yap bats for faster internet

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Slow internet connection topped the agenda in the Beijing trip of lawmakers in response to mounting clamor to address the concern.

In fact, Third District Rep. Arthur Yap and other members of Congress, led by House Speaker Pantaleon Alvarez visited the corporate headquarters of China Telecom to explore ways on how to increase the speed of internet connectivity in the Philippines.

This is considering that online jobs have now become the immediate options of Filipinos, aside from the fact that most government and business transactions are online.

EASE OF DOING BUSINESS

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On the other hand, Yap discussed the policy measures needed to empower existing enterprises during the 38th National Conference of Employers held on May 17 at Marriott Hotel Manila.

Yap emphasized the need to pass the Ease of Doing Business Bill filed in Congress, to address the issues on physical and digital connectivity, and the overhaul of the asset collateral system.

Yap was among the panelists during the 3rd Panel Discussion panel discussion entitled, “Unleashing the Potentials of Communities through Social Enterprises”, of the event.

The host, the Employers Confederation of the Philippines (ECOP), is the single voice and representative of employers in the country on labor and social policy issues.

In the panel discussion entitled, “Unleashing the Potentials of Communities through Social Enterprises”, Cong. Yap discussed the policy measures needed to empower existing enterprises – the need to pass the Ease of Doing Business Bill filed in Congress, to address the issues on physical and digital connectivity, and the overhaul of the asset collateral system.

Among the 10-Point Socio-Economic Program of President Rodrigo Duterte is improving the ease of doing business through more efficient and responsive governance.

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Yap has filed House Bill 5093 in Congress which aims to increase participation and promote the growth of business, especially micro, small and medium enterprises (MSMEs), by providing for automatic approval and release of business permits upon the lapse of thirty days of inaction, provided that all necessary documents have been submitted.

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The validity period of the said permits should also be valid for a period of one year from the date of issuance instead of the current practice of setting the expiration at the end of the fiscal year the said permit was filed.

The bill also seeks to establish the Ease of Doing Business Commission which shall be the overall policy-making body on business registration and regulatory management, and shall set the overall direction for the implementation of the National Policy on Ease of Doing Business.

Regarding the overhaul of the asset collateral system, Yap said it is important to note that Philippine corporations and business entities are predominantly Micro, Small and Medium Enterprises. 

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MSME’s in the Philippines create the most jobs and have the biggest percentage share of the Philippine GDP. 

OTHER FORMS OF COLLATERAL

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“Unfortunately, securing working funds for them remain a great challenge as outlined in a study by the IFC because our personal property collaterals laws are out-dated,” according to Yap.

He added that there exists no modern framework nor regime to establish a registry and securing transactions or enforcing of security interests for personal properties. Banks all want land to secure transactions when it is in scarce supply.

“Yet out MSME’s have other resources like receivables, equipment, vehicles and other personal properties that are valuable no less and can be used for business and transactions. The time has come to pass a new Personal Property Collateral Act (HB 3682),” Yap said.

Yap has filed House Bill 3682 which is an act strengthening the secured transactions legal framework in the Philippines, which shall provide for the creation, perfection, determination of priority, establishment of a notice registry, and enforcement of security interests in personal property. 

This bill aims to enable more credit flow to Micro, Small and Medium Enterprises (MSMEs), support growth of supply chains and help this country achieve inclusive and stable growth.

Yap’s co-panelists were Dr. Marie Lisa Dacanay, president of the Institute for Social Entrepreneurship in Asia, Dylan Wilk, CEO of Human Heart Nature, and Mark Paul Inayan, president of Inayan Food Products.

“The role of the 21st century employer goes beyond providing jobs for people and maintaining a constant revenue stream for himself or herself. Today’s world of work requires the employer to be an effective social partner in realizing socio-economic improvements to which he/she belongs (ECOP, 2017),” Yap pointed out.

This year’s National Conference of Employers takes off from the United Nations’ Sustainable Development Goals (SDG) which include climate change, economic inequality, sustainable consumption, and poverty eradication as its priorities.

As a long-term and inclusive agenda, SDG touches on several areas and is expected to be fully implemented by 2030.

“The Conference title,  ‘Doing Well. Doing Good. Doing Right’, is a nod to the purposive actions employers should take in accordance with the sustainable development goals,” Yap said.

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