The BGA Philippines Team, led by Managing Director Victor Andres Manhit, wrote an update to clients on priorities of the Philippine Legislative Executive Development Advisory Council (LEDAC) ahead of the next congressional session on July 24.

Context

  • The Philippine Legislative Executive Development Advisory Council (LEDAC) recently met and agreed to prioritize 20 bills for passage by the end of the year. Eighteen of the bills are among the 42 priority legislative measures identified during the LEDAC’s first meeting last October. Two bills are newly identified: the Bank Deposit Secrecy Act and the Anti-Financial Account Scamming Act.
  • President Ferdinand “Bongbong” Marcos Jr. is set to deliver his second state of the nation address on the afternoon of July 24. He is expected to list his administration’s achievements over the past year and its plans and priorities in the coming years.

Significance

  • The LEDAC is a legislative and policymaking advisory body that serves the president and comprises congressional members and Cabinet representatives. Marcos chairs the body, which meets quarterly or more often if necessary to review policies, projects, laws and programs that government agencies can implement.
  • The LEDAC on July 4 identified 20 legislative measures that will be prioritized for passage by December 2023. Key measures include the Public-Private Partnership (PPP) Act, Ease of Paying Taxes Act, Waste-to-Energy Act, Bank Deposit Secrecy Act and Anti-Financial Account Scamming Act.

Implications

  • Budget and Management Secretary Amenah Pangandaman said the central bank has proposed two new priority measures: the Bank Deposit Secrecy Act and the Anti-Financial Account Scamming Act (AFASA). The Bank Deposit Secrecy Act aims to address money laundering and terrorism; the AFASA bill seeks to tackle cybercrime.
  • The Senate has proposed several bills in the administration’s current list of priority measures, including the Cybersecurity Law and Open Access in Data Transmission Act. The high-priority bills are expected to be fast-tracked after Congress convenes in late July. This urgency reflects the significance of the issues the bills address.

We will continue to keep you updated on developments in the Philippines as they occur. If you have any questions or comments, please contact BGA Philippines Managing Director Victor Andres Manhit at vmanhit@bowergroupasia.com.

Best regards,

BGA Philippines Team

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Managing Director

Dindo is recognized as one of Manila’s most well-connected and savvy advisors on developments in government and business in the Philippines. Concurrent to his role as managing director for BGA’s operations in the Philippines, he is also the founder and managing director of the Stratbase Group and president of its policy think tank, the Albert del Rosario Institute for Strategic and International Studies. Since 1991, Dindo has served as a member of the faculty and is the former chair of the Political Science Department and a senior fellow of the La Salle Institute of Governance at the De La Salle ... Read More