Proposed Archipelagic Sea Lanes Act included in LEDAC's priority list

The Legislative- Executive Development Advisory Council (LEDAC) on Tuesday agreed to prioritize the passage of 28 proposed measures under the Common Legislative Agenda by June 2025.

President Ferdinand ''Bongbong'' Marcos Jr. said the government would ''continue to work hand in hand with the Senate and House of Representatives in enacting transformative legislation for a Bagong Pilipinas.

He said that during the LEDAC meeting, they laid out top legislative priorities, which will address rising prices of commodities, increase job opportunities and reduce poverty.

According to National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan, the LEDAC approved 18 bills as top priority, eight of which are already in advanced stages in the legislative process while ten bills as second priority for passage.

The top priority list also includes the Archipelagic Sea Lanes Act, which will be a complementary measure to the Philippine Maritime Zones Act. This aims to strengthen the country’s sovereignty over its archipelagic waters and maritime resources.

Sponsored by Senator Francis Tolentino last month, the proposed measure will authorize the President to establish the archipelagic sea lanes in Philippine waters as well as to prescribe the obligations of foreign ships and aircraft.

Meanwhile, Balisacan said that seven priority bills, which were introduced by the economic team, have been included in the top priority list:

1. Amendments to the Right-of-Way Act to expedite the implementation of critical infrastructure projects by streamlining the right-of-way acquisition;

2. Excise Tax on Single-Use Plastics to encourage sustainable consumption and production, and reduce plastic waste generation;

3. Rationalization of the Mining Fiscal Regime to enable the nation to better reap the benefits of the Philippines’ rich mineral resources by introducing a straightforward and streamlined fiscal policy;

4. Amendments to the Electric Power Industry Reform Act (EPIRA) to accelerate national efforts toward a more energy-secure country;

5. CREATE MORE Act to improve the current regulations by enhancing the tax and administrative incentives available to companies, and clarifying rules on implementing VAT incentives;

6. The Department of Water Resources to institutionalize a primary agency responsible for comprehensive and integrated water resources development and management; and

7. VAT on Digital Services to ensure an equal playing field between local and foreign digital service providers while expanding the VAT base.

Balisacan said the timely passage of these measures is critical in strengthening the country's economic governance and ensuring that the country is on track in enforcing the country's infrastructure flagship programs.

Further, the LEDAC also included in the top priority list the proposal of Speaker Ferdinand Martin Romualdez on the reforms in the Philippine Capital Markets. These seek to facilitate capital raising for Filipino companies through the stock market and boost the value of pension funds invested in the Philippine stock market.

Meanwhile, Balisacan called for greater cooperation between the Executive and Legislative branches to develop consensus versions of the priority measures.

“We thank the leadership of both houses of Congress for their commitment to fast-track the passage of these important measures. These bills represent our concerted effort to shape the nation’s economic governance, foster growth, and ensure a prosperous future for all Filipinos,” Balisacan said. —RF/RSJ, GMA Integrated News