The Chamber of Commerce of the Philippine Islands (CCPI), the country’s oldest and most established business chamber, has expressed its strong support for Senate Bill 2826, also known as the “Enhanced Fiscal Regime for Large-Scale Metallic Mining Act.” The measure seeks to modernize the country’s mining fiscal policies, ensuring that natural resource utilization drives local economic growth rather than being limited to raw material exports.
The CCPI emphasizes that the proposed bill aligns with its Economic Compass Pillars 5 (ECOMP-P5), particularly in advancing industries that connect the country’s islands and drive industrialization. The organization highlights the importance of prioritizing local processing of natural resources to support manufacturing-based industries. It also stresses the need for government policies that ensure locally mined resources benefit domestic factories, creating a sustainable industrial ecosystem. Additionally, CCPI underscores that locally processed minerals can fuel industrial self-sufficiency and wealth creation, strengthening the national economy.
“We must not only extract minerals but manufacture them into finished products,” CCPI stated. “This creates jobs, drives productivity, and enhances innovation across mineral-based industries such as automotive and semiconductors.”
The Chamber warns against continued reliance on raw mineral exports, which limits the country’s ability to compete in higher-value manufacturing industries. By exporting raw materials without local processing, the Philippines misses out on wealth creation, relying on expensive finished imports instead of developing local industries. It also restricts job growth, leaving workers stuck in low-skill labor rather than advancing into specialized, high-wage jobs. Furthermore, the country fails to capitalize on its resources, losing the opportunity to secure stronger trade agreements by exporting higher-value products.
The CCPI supports responsible mining practices with a long-term vision, ensuring that the country’s finite resources primarily benefit local communities and industries. The Chamber proposes that while the export of raw minerals may be allowed, it should be subject to clear guidelines prioritizing local industry needs.
The Chamber calls for a comprehensive socio-economic study on the impact of export restrictions and local value addition. It also recommends the creation of a mining sector roadmap with policies tailored to key mineral resources for long-term competitiveness. Additionally, CCPI emphasizes the need for stronger public-private collaboration to address pressing challenges in the mining industry, including infrastructure development, energy costs, and workforce training.
The Chamber urges Congress to swiftly consolidate and pass Senate Bill 2826 along with its counterpart, House Bill 8937. It also calls on the government to resolve challenges in the mining sector, ensuring the Philippines can fully harness its mineral wealth for national progress.
“With the right policies and strategic investments, the mining industry can become a key driver of economic prosperity. By leveraging our resources responsibly, we can rebuild the country’s glorious past and navigate a stronger future,” CCPI concluded.
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