What's New
UpdatesForeign affairs chief calls for unity amidst shoal standoff
Foreign Affairs Secretary Albert del Rosario
16 May 2012 – Recognizing the strength of a united people in the ongoing standoff in the West Philippine Sea, Foreign Affairs Secretary Albert del Rosario called on the business community to take a stand as he addressed members of the Makati Business Club and the Management Association of the Philippines at a joint membership meeting held at the Mandarin Oriental Manila.
Speaking before a crowd of over 200, which included about 65 local and foreign journalists, Del Rosario emphasized that it was necessary for the Filipino people to band together even as the DFA is working to peacefully resolve the dispute. The secretary said that the DFA is adopting a three-pronged approach in addressing the impasse: a political tract, through consultations with ASEAN; a diplomatic tract via bilateral dialogue with China; and a legal tract, which involves resorting to the available dispute settlement mechanisms contained in the United Nations Convention on the Laws of the Sea.
Featured, UpdatesThe Corona Impeachment
Day 34 – 22 March 2012, Thursday
Day 33 – 21 March 2012, Wednesday
Day 32 – 20 March 2012, Tuesday
Day 31 – 19 March 2012, Monday
Day 30 – 15 March 2012, Thursday
Press StatementsTax reform for a healthier and competitive society
2 May 2012 – The Makati Business Club welcomes the initiative to reform excise taxes on tobacco and alcohol products, which would allow the government to optimize its revenue potential and create a strong disincentive for excessive tobacco and alcohol use.
We especially support the restructuring of the excise tax system from a multi-tiered structure to a unitary excise tax structure for tobacco and alcohol. This will effectively improve equity across cigarette and alcohol brands, promote market-based pricing in the industry, and encourage the entry of legitimate competition. It will also demonstrate the country’s commitment to open and fair competition, as well as its respectful compliance to international agreements.
UpdatesDOE to ensure timely development of energy resources
Energy Secretary Jose Rene Almendras
26 April 2012 – Develop as much resources at the soonest possible time—this was both the message and the challenge of Energy Secretary Jose Rene Almendras as he addressed members of the Makati Business Club in its general membership meeting held at the Mandarin Oriental Manila.
Underscoring the importance of a diversified energy mix in achieving power independence, Almendras explained that despite having close to 60% energy self-sufficiency, the Philippines greatly lags behind its neighbors in resource exploration. The secretary said that the Philippines has 10 times less exploration activities than Vietnam, and heavily depends on Indonesian coal for its energy requirements.
