The Chamber of Commerce of the Philippine Islands (CCPI) on Wednesday voiced strong support for Senate Bill 2826, the “Enhanced Fiscal Regime for Large-Scale Metallic Mining Act,” calling it essential for the country’s economic development. The proposed legislation seeks to modernize the fiscal framework governing the mining sector, in keeping with the chamber’s Economic Compass Pillars 5 (ECOMP-P5), a strategic advocacy focused on promoting sustainable, local industrial growth.
CCPI says the bill supports key initiatives aimed at fostering self-reliance, boosting local manufacturing, and enhancing economic diversification. With its emphasis on utilizing the Philippines’ abundant natural resources to fuel local industries—especially sectors like automotive and semiconductors—the organization advocates for transforming raw materials into higher-value products. This shift, they argue, will reduce reliance on expensive imports, create better-paying jobs, and drive productivity by enabling workers to upskill.
While CCPI supports the idea of exporting raw minerals, it calls for clear guidelines to prioritize the needs of local industries and ensure that mineral extraction benefits Filipino communities and businesses in a sustainable way. The chamber further advocates for a comprehensive study of the potential socio-economic impacts of a proposed ban on mineral ore exports, as well as a tailored roadmap for the mining sector’s growth and competitiveness.
The CCPI stresses that the successful implementation of Senate Bill 2826 requires a unified, public-private collaboration to address infrastructure challenges, reduce energy costs, and cultivate a skilled workforce. These priorities are consistent with the Chamber’s broader economic vision, aiming to revitalize the Philippine economy and restore its position on the global stage.
By supporting Senate Bill 2826, the Chamber envisions a vibrant, competitive mining sector as a cornerstone of the Philippines’ future economic prosperity, contributing to both domestic growth and the country’s long-term strategic goals.
The CCPI calls on Congress for swift passage of the bill and its counterpart, House Bill 8937, to unlock the full potential of the mining industry for the benefit of the nation.
