Philippines business chamber urges Senate to advance economic bills amid impeachment duties

Traders Union
All News
Economic Data
Senate urged on economic bills

Highlights

British Chamber of Commerce of the Philippines urges Senate to prioritize economic bills like the Digital Payments Act and Cybersecurity Act despite ongoing impeachment proceedings.
Surfshark data indicate Philippine account breaches rose 76.8% quarter-on-quarter to 624,405 in Q1 2025, highlighting urgent cybersecurity needs.
Department of Agriculture's proposed pork import tariffs at 30% (within quota) and 40% (outside quota) could intensify inflation risks amid persistent consumer price concerns.

Business priorities amid Senate backlog

As reported by BusinessWorld Online, the British Chamber of Commerce of the Philippines is urging senators to make time for pending economic measures while serving as impeachment court judges, arguing that legislation linked to investor confidence should not stall.

Speaking to reporters on Friday, BCCP Executive Vice-Chairman Chris J. Nelson said the pace of lawmaking has slowed as the Senate focuses on impeachment proceedings. He said it is important to send companies and investors a clear signal that the economy is moving forward.

Among the chamber’s priorities is the Digital Payments Act, which seeks to institutionalize digital payments across government and private transactions. Nelson said wider use of digital payments also requires stronger protections, adding that a cybersecurity law is needed to support a more secure system.

The proposed Philippine Cybersecurity Act would create a National Cybersecurity Agency to lead reforms aimed at protecting critical information infrastructure, managing cyberthreats, and strengthening the country’s cyber defenses. Nelson pointed to rising phishing cases and other cyber scams as a reason to strengthen the country’s cybersecurity posture.

Surfshark data cited in the report show the Philippines logged 624,405 breached accounts in the first three months of the year, up 76.8% from the fourth quarter of 2025.

Investor confidence and inflation risks

The BCCP also backs the proposed Blue Economy Act, which would set a framework for the sustainable development, use, and protection of the country’s marine resources. It is also calling for passage of the Open Finance and Consumer Data Empowerment Act, which would establish a framework for secure data sharing among banks to help develop tools that support financial inclusion.

Nelson said the Philippines remains a consumer-driven economy, but many citizens are still unbanked or have only limited access to finance. He said the Open Finance Act could help build credit histories, improve access to borrowing, and in turn support broader economic activity.

Beyond legislation, Nelson also warned that the Department of Agriculture’s plan to raise pork import tariffs could push prices higher at a time when inflation remains a key government concern. He added that the El Niño phenomenon could also affect food supply and add to inflationary pressure.

The Department of Agriculture is considering raising pork import tariffs to 30% for shipments within the minimum access volume and 40% for imports outside the quota.

In our earlier article on Philippine e-commerce payment trends, we noted that cash-on-delivery still makes up a sizable share of online purchases even as QR code and bank-transfer usage climbs. The report highlighted that limited payment options can lead to abandoned checkouts and that businesses expect fraud risks to rise, underscoring the need to expand digital payment acceptance while strengthening security safeguards.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.