Senator Paolo Benigno “Bam” Aquino met with the Bohol Chamber of Commerce and Industry (BCCI) board of trustees on September 4, 2015 at 9:00AM at the Coralandia Resort for a open agenda meeting. The trustees were led by BCCI President Engr. Al Uy. Bohol Governor Edgar M. Chatto was also present during the meeting.
The senator gave an overview of the Go Negosyo Act (Republic Act No. 10644) which mandates the creation of Pinoy Negosyo Centers, under the Department of Trade and Industry (DTI), in each city and municipality around the country. These Pinoy Negosyo centers are meant to make it easier for entrepreneurs to register and start up their businesses, as well as gain access to sources of financing.
The senator also asked for feedback on some of the programs where his office was involved or have supported.
Among the topics discussed were the proposed tax reforms, tax breaks for startups, and how to enable local manufacturers to compete with established suppliers from outside the province in suppling the tourism industry with various products such as premium soap for hotels. The senator mentioned that our tax law is too complex and the tax brackets are outdated.
The senator also wants to encourage startups which would generate jobs for the country by giving them a tax break for the first two years. Earlier this year, President Benigno
(L-R) BCCI President Engr. Al Uy, Sen. Paolo Benigno Aquino and Bohol Gov. Edgar Chatto during the open agenda meeting with the BCCI.
Aquino signed into law the Youth Entrepreneurship Act or RA10679. The measure creates financial literacy modules in all levels of Philippine education, to inculcate a culture of enterprise development among the Filipino youth.
Also discussed in detail was the matter of the “slow” Internet service in the province and the country in general. Trustee and chairperson of the ICT committee of BCCI Jerome Auza pointed to Senator Aquino that the telcos in the country are committing only to 80% reliability of their services. Auza pointed out that 80% reliability is equivalent to the Internet service being down one day every five days or six days a month. For better service, the reliability commitment must be raised much higher.
BCCI has supported a USAID funded capacity development program to help enable SMEs gain the capability to make funding proposals that will have a good possibility of being approved by funding institutions.
The senator expressed his admiration to Bohol because the province has cultivated a dynamic and productive relationship among the LGUs, government agencies, the private sector, NGOs and religious organizations.