Zubiri: Senate banner year for defense, economic laws

MANILA, Philippines — Senate President Juan Miguel Zubiri yesterday lauded the Senate for a productive year in the 19th Congress, with the passage of measures that aim to bolster the national defense posture and uplift the country from the pandemic slump.

Zubiri said the productive legislative work this year is “a testament to our commitment to improve the life of every Filipino by crafting new laws that will boost the economy, generate jobs and expand social protection.”

The 2024 General Appropriations Act (GAA) – or the P5.768-trillion national budget next year – tops the list of 32 measures in the Senate signed into law by President Marcos this year, he said.

Tucked in the recently signed 2024 GAA is an increased budget for the national defense and security of the country in light of the escalating maritime conflict with Chinese vessels in the West Philippine Sea, Zubiri said, adding that the Philippine Coast Guard – tasked to primarily safeguard Philippine waters – got a big funding boost.

Another important measure that hurdled the Senate is the Maharlika investment fund law, which created the country’s first-ever sovereign wealth fund.

President Marcos sought the creation of the investment fund in Congress, as he touted the need for a wealth fund in drawing more foreign investments in the country as a way of recouping economic losses from the global pandemic.

Other important measures signed into law are the creation of Department of Health specialty centers in every region; Public Private Partnership Act, which empowers the private sector to finance infrastructure on transportation, health care, internet, supply chain and logistics; and the Internet Transactions Act, which protects clients of online transactions.

Zubiri said the specialty health center law is “close to my heart” because it was his campaign promise to establish “Centers of Hope” for those in the provinces to get quality treatment.

Others recently signed laws are An Act Further Strengthening Professionalism and Promoting the Continuity of Policies and Modernization Initiatives in the Armed Forces of the Philippines; Act Emancipating Agrarian Reform Beneficiaries from Financial Burden by