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Business group backs Marcos Jr.’s pro-growth agenda for power and infrastructure

The Makati Business Club (MBC) has expressed its backing for President Ferdinand Marcos Jr.’s proposed reforms in the power and water industries, as well as his plans to maintain or accelerate infrastructure investments, citing their critical role in fostering economic growth and enhancing public services.

MBC executive director Francisco Alcuaz Jr. emphasized the importance of these reforms in boosting investments and creating more job opportunities, leading to improved lives for all Filipinos. He highlighted the need for economic competitiveness and reliable public services.

Regarding the power sector, the MBC expressed its support for opening renewable energy to 100 percent foreign investment and the Philippine Downstream Natural Gas Industry Development bill, which aims to expand liquefied natural gas (LNG) amid the decline in Malampaya reserves.

In terms of infrastructure, the MBC has expressed its support behind the President’s plan to maintain infrastructure spending at 5 percent to 6 percent of GDP, with a commitment to invest more in mass transportation to benefit the majority of Filipinos who do not own cars or motorcycles. The group acknowledged the positive impact of efficient and affordable public transportation on business productivity and the quality of life for citizens.

The MBC also welcomed Marcos’ commitment to move forward with the rehabilitation of NAIA and the expansion and operation of Laguindingan airport through public-private partnerships.

It expressed its support for the promotion of Technical Vocational Education and Training (TVET) as a means to equip Filipinos with the skills needed for the current and future economies.

Additionally, the MBC backed Marcos’ push for government digitalization, including online tax payments, and reiterated its support for a Freedom of Information (FOI) Law that would grant citizens access to government information to make informed economic decisions.

The group also expressed its support for expanding the country’s healthcare workforce, particularly nurses, and the President’s promise to address their long-overdue COVID allowances.

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