Author: teambam

Sen. Bam: No shortcuts, call joint session

A senator called on his fellow lawmakers to avoid shortcuts and follow the Constitution by calling a joint session to tackle the declaration of Martial Law in Mindanao.

“Ang AFP, ayaw natin mag-shortcut, ang PNP ayaw nating mag-shortcut. Bakit tayo mag-so-short cut?” said Sen. Bam Aquino during the minority bloc’s press conference discussing their resolution urging the Senate to call for a joint session.

 “Hindi tayo puwedeng mag-shortcut. Iyong mga shortcut, ito ang nagdudulot ng masasamang bagay sa bansa natin,” he added.

 Under the Constitution, Sen. Bam also stressed that Congress is mandated to call a joint session, based on the precedent during former president Gloria Arroyo’s declaration of Martial Law in Maguindanao in 2009.

 “A joint session is needed so that people can hear for themselves what the security managers were able to brief to us,” Sen. Bam said in an earlier television interview Tuesday.

 The senator said a joint session will give security managers a chance to enlighten the public about the situation and address misinformation and fake news circulating online at the same time.

“The people are contradicting each other. Agencies are contradicting each other in terms of facts and in terms of what’s really happening. We need to hear it straight from the security managers,” Sen. Bam pointed out.

 Sen. Bam said the security managers assured that normalcy in Marawi City will be restored in the next few days but it is crucial for the “people to hear that themselves”.

 During the briefing, Sen. Bam got the assurance from the Armed Forces of the Philippines (AFP) that it will uphold human rights while Mindanao is under Martial Law.

 Despite the AFP’s assurance, Sen. Bam underscored the need for vigilance against any abuse that might occur until normalcy returns to the area, which the AFP committed to achieve in the following days.

Once the government quells the threats in Marawi, Sen. Bam said the government must lift Martial Law immediately and focus on restoring normalcy and developing in the area.

Sen. Bam on Bicam approval of free tuition bill or Universal Access to Quality Tertiary Education Act

We are happy to report some good news during these challenging times in our country.

 Our bill providing access to quality higher education has passed the Bicam process.

 This will make tuition and other fees in our SUCs free. It will provide billions of scholarships and loans to students in private higher education institutions.

Pirma na lang ng Presidente ang kailangan para maging batas ang Universal Access to Quality Tertiary Education Act.

 Malaking panalo ito para sa mga estudyante at pamilyang Pilipino!

 I became a legislator primarily to spearhead reforms that help our countrymen reach their hopes and dreams, so I am very proud to have pushed for this major reform as the main sponsor and co-author in the Senate.

 We’d like to thank and congratulate all the legislators, stakeholders and supporters that contributed to this measure!

 Let’s give every Filipino access to quality education – from kinder to college.

 Bigyan po natin ng oportunidad ang ating mga kababayan na makamit ang kanilang pangarap.

Sen. Bam: Free education in SUCs, LUCs a milestone in PH learning system

If enacted into law, the measure providing free education in state universities and colleges (SUCs) and local universities and colleges (LUCs) will be a major reform in the country’s education system, as it will open up tertiary level education to more Filipinos.

“This is a huge reform for struggling students and their hard working parents. I became a legislator because I wanted to spearhead initiatives like this that can help our countrymen reach their hopes and dreams,” Sen. Bam Aquino, the principal sponsor and co-author of the measure, now known as the Universal Access to Quality Tertiary Education Act, in the Senate.

The bicameral conference committee approved the report Monday. Once it is ratified by both Houses, it will be transmitted to Malacanang for President Duterte’s approval.

“All it needs is the President’s signature to make tuition and other fees in SUCs and LUCs free, and financial support for students in private colleges and universities through grants and loans accessible and available,” said Sen. Bam

The measure, once passed into law, will complete the chain in the country’s educational institutions and give more Filipinos access to quality education.

“Noong dekada otsensa lang naging libre ang high school sa Pilipinas. Thirty years later, magiging libre na rin ang tertiary o college sa SUCs at LUCs. We’re really making educational institutions accessible to more Filipinos,” said Sen. Bam.

Sen. Bam defended the measure in plenary debates and interpellation during his stint as chairman of the Committee on Education. He was also the co-chairman of the Senate delegation to the bicameral conference committee, together with new Committee on Education chairman Sen. Francis Escudero. Other members of the Senate panel are Sens. Sherwin Gatchalian and Ralph Recto.

If approved, it will institutionalize free tuition and other fees in SUCs and LUCs all over the country, giving underprivileged students a chance to earn a college degree.

It will also streamline and strengthen all Student Financial Assistance Programs (StuFAP), making it available to students who want to pursue higher education in private institutions, as well as subsidizing other expenses of SUC students.

Sen. Bam: Free internet in public places now a signature away from becoming law

The measure providing Filipinos free internet access in public places is now one signature away from becoming a law after the Senate ratified its final version Wednesday, Sen. Bam Aquino announced.

 “Isang pirma na lang po at magiging batas na ito. This measure will empower Filipinos with internet access to education, information, jobs and business,” said Sen. Bam, the principal sponsor and co-author of the measure in the Senate in his capacity as chairman of the Committee on Science and Technology.

“We hope that this can be a step towards improving internet services in the Philippines, which, of course has become a main point for many of our countrymen,” he added.

 The final version, which was also ratified by the House, will be submitted to Malacanang for President Duterte’s signature. If approved, this will be Sen. Bam’s 1st law in the 17th Congress and 18th in his four years as senator.

Sen. Bam hopes that internet service will improve with the successful implementation of the free internet access in public places, together with parallel efforts such as the National Broadband Plan and the entry of new players in the telecommunications industry.

 “Let’s work together to achieve our goal of faster, cheaper, more reliable internet services for every Filipino,” said Sen. Bam.

 Sen. Bam thanked co-authors Sens. Francis Pangilinan, Manny Pacquiao and Sen. Ralph Recto, co-sponsors Sen. Grace Poe and Recto and members of the Senate panel in the bicameral conference committee, including Sens. JV Ejercito, Nancy Binay, Joel Villanueva and Recto for helping develop and strengthen the measure.

The measure aims to provide internet access in all national and local government offices, public schools, public transport terminals, public hospitals and public libraries.

 Under the measure, the Department of Information and Communications Technology (DICT) will be mandated to craft a plan and a timeline for the rollout of this program.

BIDA KA!: Foreign Affairs

Mga Bida, panibagong ingay na naman ang ginawa ng pamahalaan noong nakaraang linggo matapos ihayag ni Pangulong Duterte na hindi na tatanggap ang bansa ng aid o tulong mula sa European Union (EU).

Sa desisyong ito ng gobyerno, mawawala ang tulong na aabot sa 250 million Euros o P13.8 bilyon, na dapat sana’y mapupunta sa ilang komunidad ng mga kapatid nating Muslim.

Ang dahilan sa pagtanggi ng pamahalaan sa ayuda ng EU? Dahil daw may mga kondisyon ang EU na nanghihimasok sa isyu ng human rights at pagpapairal ng batas sa bansa.

Dapat ba natin itong ikasama ng loob? Hindi ba’t trabaho ng ating pamahalaan ang pairalin ang batas at protektahan ang karapatang pantao ng mga Pilipino?

***

Sa aking pagbisita sa Iligan kamakailan, nagkaroon ng mukha ang mga grupo na nakakatanggap ng tulong mula sa EU.

Habang nag-aalmusal, nilapitan ako ng ilang grupo ng mga Muslim na nakakakuha ng grant mula sa EU.

Ayon sa grupo, nakakakuha sila ng tulong mula sa EU para idokumento ang pag-aalis ng landmines sa Mindanao. Sa kanilang kasunduan ng EU, popondohan ang kanilang pagkilos hanggang 2018.

Subalit dahil sa pasyang ito ng gobyerno, wala nang kalina­wan kung matutuloy pa ang kanilang ginagawa.

***

 

Kamakailan lang din, ipinabatid ni Pangulong Duterte na pinagbantaan siya ng giyera ng China kung itutuloy ng Pilipinas ang paghahabol sa mga islang pinag-aagawan sa West Philippine Sea.

Kung totoo, napakabigat ng binitiwang salita ng pangulo ng China ngunit walang naging reaksiyon ang ating pamahalaan ukol sa nakababahalang banta mula sa bansa na itinuturing ng ating Pangulo bilang isang matibay na kaalyado.

Nabahala naman si Justice Antonio Carpio sa kawalan ng sagot o opisyal na pagkilos ng pamahalaan ukol dito. Ayon kay Carpio, maaari itong dalhin ng Pilipinas ang binitiwang banta ng China sa United Nations tribunal.

Sa kabila ng bantang ito, tuloy pa rin ang pagtanggap ng Pilipinas ng ayuda mula sa China. Hindi ba dapat ito’y salungat sa posisyon ng gobyerno sa EU.

Habang kinondena natin ang EU sa umano’y panghihimasok nito sa usapin ng bansa kapalit ng kanilang tulong, tinanggap naman natin ang tulong at loan na alok ng China sa kabila ng kanilang panghihimasok sa ating teritoryo.

Ano ba ang mas mabigat? Ang kuwestiyunin ang ating karapatang pantao at pagpapatupad ng batas o ang pasukin at agawin ang teritoryo na matagal nang atin?

***

Ilang beses ko nang ipinaalala sa liderato ng Committee on Foreign Affairs ng Senado ang aking resolusyong silipin ang direksiyon ng ating foreign policy ngunit bumagsak lang ito sa mga binging tainga.

Mahalagang magkaroon ng pagdinig upang malaman ng taumbayan kung saan patutungo ang tinatahak na daan ng pamahalaan pagdating sa ugnayang panlabas.

Sen. Bam on the situation in Marawi and the declaration of Martial Law in Mindanao

(transcript of media interview)

Currently kailangan natin suportahan ang AFP sa lahat ng kanilang operations. On going pa po ang operations. Hindi pa po natatapos. That should be foremost. Yun yung pinakamahalaga that we support our troops sa kanilang pagsugpo sa lawless elements na ‘to.

Pangalawa, siguraduhin po natin na ang mga kababayan natin sa lugar, ay matulungan at mabigyan ng proteksyon. Sa pagkakaalam ko po, madami nang nage-evacuate ngayon at kailangan po nila ng tulong at pagkalinga mula sa gobyerno at mula sa iba’t iba pang mga grupo.

On his recent trip to Marawi

Actually, I was there nung Friday at nagbukas kami ng 508th Negosyo Center in Marawi. the first negosyo center in ARMM. Everybody was so hopeful na yung pagtulak ng pagnenegosyo, trabaho, could really lead to peace. Kaya talagang heartbreaking itong nangyayari na to.

Yung mga kasama namin na military, mga kasama namin na negosyante at local government officials, lahat nagsabi na itong pagtulak ng mas magagandang trabaho, mas magandang pagnenegosyo sa mga kapatid nating Muslim, will eventually lead to peace. So itong nangyayari ngayon, it’s really heartbreaking. Because the people there, want peace, want progress. Gusto nila ng magandang buhay para sa kanilang lugar.

Instead, ang nakukuha po nila, ay isang battle zone na hindi po tama at dapat po maitigil na.

Eto pong move of declaring Martial Law in Mindanao, meron naman pong constitutional processes dyan and we hope that these constitutional processes would be followed.

There’s a report that needs to be given to Senate and Congress and then meron pag sangayon o pag tutol po dyan na mangyayari. Right now we’re hearing reports from the AFP na under control na po yung situation. So kailangan nating i-assess ang lahat ng yun sa ating determination about Martial Law.

Q. Walang common stand ang minority, particularly LP dito sa declaration ng Martial Law?

Right now I think ang pinakamahalaga is masuportahan natin yung troops at matulungan natin ang ating mga kababayan. We don’t want to get into something political habang tuloy tuloy yung putukan.

At the end of the day, we have a constitutional process. Meron po tayong proseso sa ating constitution. Yung Martial Law po na dineclare nung 70s, iba na po yung Martial Law ngayon because meron na pong checks and balances na nakalaan sa ating constitution.

Yung mga karapatang pantao, di po yan nawawala, di po nawawala ang civilian courts, hindi po nasu-suspend ang writ of habeas corpus ng basta basta. We have a constitutional mandate.

But again, right now, yung pinakamahalaga po ngayon, ay matigil na tong firefighting, masugpo yung ating lawless elements at maprotektahan ang ating mga kababayan.

I think before we get into politics, before we get into this legal ramifications, yun yung pinaka mahalaga at this point.

Yung atin pong mga kababayan dun, we’ve heard reports na mga eskwelahan, mga religious places ang tinatamaan. And people are in fear. Di sila makalabas sa kanilang mga bahay. We need to make sure that our countrymen are protected. Yun yung pangunahin po sa lahat at sinusportahan po natin ang ating armed forces.

Q. Okay ba na buong Mindanao for 60 days?

We want to know the reason for that. There have been news reports left and right but there will be an official reason once the report is provided to Congress and the Senate. Gusto po nating malaman kung bakit ganun yung scope. Gusto rin ho natin malaman kung ano po yung plano nila sa dami ng araw na ide-declare po ang Martial Law.

Again, it’s a little too soon in fact, I’m not even sure if the president is here already. Kung wala pa siya dito, so maga-assessment pa po yan. Magkaka-security briefing pa yan at magkaka-report.

Hopefully, by the time that he arrives, tapos na po yung situation. Because again, the AFP has said that they’re continuously gaining ground. As of this morning, nagsalita po ang AFP social media account na under control na po, may iilang lugar na lang na may sporadic gunfire. We’re hoping that in a few hours, masasabi po natin na ligtas na po ang Marawi at ligtas na po ang Lanao del Sur.

Ang reports po namin ay nage-evacuate na yung mga tao. There is a massive movement already happening. This can be checked. At palagay ko ang mahalaga nakaabang po ang gobyerno natin na tulungan sila. Kung meron pong lumilikas dahil po sa karahasan, dapat po handa ang gobyerno na tulungan sila at palagay ko naman gagawin naman yan.

So at this point, sila po yung pinakamahalaga. Mahalaga po na matigil yung putukan, mahalaga na ang AFP po natin masuportahan at mahalaga po na mabigyan ng tamang ayuda ang ating mga kababayan.

Sen. Bam: Set politics aside, ensure safety and welfare of civilians in Marawi City

Let’s put politics in the backburner and focus on ensuring the safety and welfare of civilians in Marawi City amid the conflict between government forces and Maute group. 

Sen. Bam Aquino made this call as he reiterated his support behind the military as it tries to quell the terrorist group and restore normalcy in the city.

“Right now, ang pinakamahalaga po ngayon ay matigil na itong bakbakan, masugpo ang teroristang grupo at maprotektahan ang ating mga kababayan,” said Sen. Bam when asked about the declaration of Martial Law in Mindanao.

 Last week, Sen. Bam was in Marawi City to open the 508th Negosyo Center in the country and the first in the Autonomous Region in Muslim Mindanao (ARMM).

 “Everybody was so hopeful na ang pagtulak ng pagnenegosyo at trabaho, could really lead to peace. Kaya talagang heartbreaking itong nangyayarin ito,” said Sen. Bam.

 Sen. Bam said the military, businessmen and local government officials all agreed that strengthening business opportunities to our Muslim brothers will lead to peace.

 “Iyong mga kasama namin na militar, negosyante at local government officials, lahat nagsabi na ang pagtutulak ng mas magagandang trabaho at pagkakataong magnegosyo sa mga kapatid nating Muslim will eventually lead to peace,” said Sen. Bam.

Sen. Bam: Bicam to tackle free tuition in SUCs

The Senate and House will hold a bicameral conference committee tomorrow (Wednesday) to reconcile their respective versions of the measure that will provide free tuition fee in state colleges and universities (SUCs).

“We hope to finalize a version that will fulfill the intention of the measure to provide underprivileged students a chance to finish college and give them a better chance for a brighter future,” said Sen. Bam Aquino, principal sponsor and co-author of Senate Bill No. 1304.

Once the bicameral conference approve the final version, it will be ratified by both Houses of Congress before transmitting to Malacanang for President Duterte’s signature.

“Umaasa tayong maisasabatas ito sa lalong madaling panahon upang mapakinabangan na sa susunod na school year,” added Sen. Bam, who defended the measure in plenary debates and interpellation during his short stint as chairman of the Committee on Education.

 Sen. Bam will be the co-chairman of the Senate delegation to the bicameral conference committee, together with new Committee on Education chairman Sen. Francis Escudero. Other members of the Senate panel are Sens. Sherwin Gatchalian and Ralph Recto.

 The measure aims to institutionalize free tuition in SUCs all over the country, giving underprivileged students a chance to earn a college degree.

It will also streamline and strengthen all Student Financial Assistance Programs (StuFAP), making it available to students who want to pursue higher education in private institutions, as well as subsidizing other expenses of SUC students.

 “Sa pamamagitan nito, magkakaroon na ng katuparan ang hangaring mabigyan ng edukasyon ang lahat ng Pilipino,” said Sen. Bam.

 

NEGOSYO, NOW NA!: Negosyong techie

Mga kanegosyo, isa sa mga dahilan kung bakit isinusulong ko ang libreng internet sa mga pampublikong lugar sa iba’t ibang bahagi ng bansa ay puwede itong pagkunan ng trabaho at pagsimulan ng negosyo.

Kapag naratipikahan ng dalawang sangay ng Kongreso ang pinal na bersiyon ng panukala, pirma na lang ni Pangulong Duterte ang kailangan upang ito’y ma­ging batas.

Kapag mayroong internet ang isang Pilipino, naririyan ang oportunidad para makakita ng hanapbuhay, makapagsimula ng online business o iba pang negosyo na may kinalaman sa teknolohiya.

Ganito ang nangyari kina Gian Javelona ng OrangeApps Inc. at Juan Miguel ‘JM’ Alvarez ng Potatocodes, dalawang technopreneur o negosyante na gumagamit ng teknolohiya sa kanilang negosyo.

Masuwerte tayo at nakasama natin sila sa prog­ramang ‘Go Negosyo sa Radyo’ noong Miyerkules kung saan ibinahagi nila ang kuwento ng kanilang tagumpay.

Sa kuwento ni JM, sinimulan niya ang Potatocodes noong 2014 sa edad na 20-anyos. Isa sa mga hamon na kanyang naranasan ay ang kawalan ng karanasan. Ngunit naisipan pa rin niyang gumawa ng mobile app sa sariling pagsisikap at pag-aaral.

Nagbunga naman ang pagtitiyaga ni JM dahil nakabuo siya ng app matapos ang isang buwang pag-aaral. Isa sa mga mobile app na na-develop niya ay ang FormsPH, na kanyang ipinamamahagi nang libre at ngayo’y may 15,000 downloads na.

Ayon kay JM, ginawa niyang libre ang Forms­PH bilang mensahe sa mga kapwa millenials na gumawa ng solusyon sa halip na magreklamo nang magreklamo. Ngayon, nakatutok ang serbisyo ng Potatocodes sa paggawa ng website.

Para kay JM, hindi dapat isipin ang kabiguan at hindi rin dapat gamiting dahilan ang kakulangan ng kaalaman para hindi maabot ang isang bagay.

***

 

Sa parte naman ni Gian, sinimulan niya ang OrangeApps gamit lang ang laptop at cellphone. Ayon kay Gian, naisip­an niyang simulan ang kompanya at gumawa ng app para sa enrollment matapos pumila ng tatlo hangggang apat na oras para maka-enroll.

Nagdisenyo siya ng app gamit ang website at mobile kung saan mapapatakbo ng isang paaralan ang operasyon nito sa online enrollment, tuition fee monitoring, at schedule ng mga klase.

Isa sa mga naging hamon sa pagsisimula niya ay kung paano makukuha ang tiwala ng mga paaralan na gumawa ng app para sa kanila. Unang nagtiwala kay Gian ay ang Polytechnic University of the Philippines (PUP) hanggang sa ito’y nasundan pa ng iba pang unibersidad.

Nang tanungin kung bakit ito ang napili niyang pangalan sa kompanya, sinabi ni Gian na “kung may Apple, gusto ko magkaroon ng Orange”.

Ayon kay Gian, ang pangunahing nagtulak sa kanya para simulan ang kompanya ay ang pagnanais na mapabuti ang sistema.

Para kay Gian, mas mabuting unahin muna ang pangarap dahil susunod na rito ang kita.

Nagsisilbi ring inspirasyon ni Gian ang pagkakataong makapagbigay ng trabaho sa mas maraming tao sa pamamagitan ng kanyang kompanya.

***

Mga kanegosyo, ano ang pagkakatulad nina Gian at JM? Pareho silang nag­hanap ng solusyon sa mga problema na kanilang naranasan at kinaharap.

Maliban pa rito, pareho rin silang natuto sa panonood ng YouTube kung paano mag-code o mag-program. Si JM, inabot lang ng isang buwan para matutong gumawa ng app.

Ito ang tatak ng isang entrepreneur. Naghaha­nap ng so­lusyon sa mga problema at nagbibigay ng sagot sa mga panga­ngailangan sa kanyang kapaligiran.

Sa paghahanap nila ng solusyon sa problema, nakapagsimula sila ng negosyo na parehong nagdala sa kanila tungo sa tagumpay.

CO-SPONSORSHIP SPEECH: SENATE BILL NO. 1459 OR THE PERSONAL PROPERTY SECURITY ACT

SENATE BILL NO. 1459 UNDER COMMITTEE REPORT NO. 86

PERSONAL PROPERTY SECURITY ACT

 

Senator Paolo Benigno “Bam” A. Aquino IV
17th Congress, Senate of the Philippines
Sponsorship Speech, May 22, 2016

 

Good afternoon, Mr. President and esteemed colleagues! Mga kaibigan at mga kababayan, magandang hapon sa ating lahat.

 It is an honor, Mr. President, to sponsor Senate Bill No. 354, under Committee Report No. 86, entitled Strengthening The Secured Transactions Legal Framework In The Philippines, Which Shall Provide For The Creation, Perfection, Determination Of Priority, Establishment Of A Centralized Notice Registry, And Enforcement Of Security Interests In Personal Property, And For Other Purposes – it is otherwise known as the Personal Property Security Act.

But before I delve into the bill, Mr. President, I would like to share some trivia about basketball superstar, LeBron James, in the wake of today’s loss.

Alam niyo ba, Mr. President, na noong high school pa lang si LeBron, nais siyang regaluhan ng ina ng mamahaling sasakyan na Hummer para sa kanyang ika-18 taong kaarawan.

Ang problema? Ang Hummer ay nagkakahalaga ng $50,000 at walang pambili si Mommy Gloria.

Dahil walang pambili, lumapit si Gloria James sa isang bangko sa Ohio at nangutang.

 Mr. President, esteemed colleagues, ang ginamit niyang collateral ay ang future earnings ng kaniyang anak kung siya’y maging NBA player!

 Kapag napasok na raw si LeBron sa NBA, milyun-milyon ang kikitain niya.

 Ang kagulat-gulat dito, tinanggap ng bangko ang collateral!

Ang tinignan nila ay ang talento ni LeBron at ang posibilidad na ito’y magiging NBA player. 

Ang ending ay win-win-win! Gloria James got her loan. LeBron got a Hummer. And the bank was paid back with interest.

 Mr. President, this would not have happened in the Philippines.

 Currently, it is land and real property that banks consider to be the most favored form of collateral – and this is not just because of its value.

 Financial institutions see land and real estate as low-risk because it is easy to ascertain that the piece of land has not been used as collateral for any other loan.

 But with lenders fixated on real property, they miss out on the opportunity to provide loans to a broader groups of MSMEs and farmers.

Consequently, many of our countrymen have a very difficult time accessing loans from banks and result to borrowing from friends and family or, worse, resorting to informal loans like the 5/6 system with exorbitant interest rates.

This is particularly heartbreaking for micro, small and medium enterprises, Mr. President.

Friends and colleagues, sa aking pag-iikot, ang laging tanong sa akin ng mga nagnenegosyo ay, “Sen. Bam, saan po ako makaka-utang na mababa lang ang interes?”

Sayang, Mr. President!

Many of our small businesses have so much potential – potential for success and potential to lift families out of poverty.

 Mr. President, we need to address our MSME’s lack of access to loans.

The Personal Property Security Act is one of our remedies.

This measure will encourage financial institutions to lend to more Filipinos by, one, expanding what banks consider as acceptable collateral and, two, reducing the risks associated to movable collaterals.

 First, this measure will broaden the utilization of movable assets like bank accounts, accounts receivable, inventory, equipment, vehicles, agricultural products, and even intellectual property rights.

Imagine a farmer using his livestock or a craftsman using a contract for a bulk order as collateral for a loan.

But, Mr. President, we already recognize a diverse set of movable assets acceptable as collateral for loan purposes, like motor vehicles, equipment, and standing crops, such as rice or sugarcane.

 The major challenge of this measure, and those tasked to implement it would be to reduce the risk of accepting movable collaterals through an efficient, comprehensive, and centralized registry.

The Personal Property Security Act pursues the design, establishment, and operation of a unified, centralized, online notice-based national collateral registry to assure banks that the collateral being submitted has not been utilized for another loan.

Mr. President, this is not new. In other countries, a simple but effective registry have boosted financing for their local entrepreneurs.

In Mexico, the creation of a national Accounts Receivable Finance Platform by the government’s development bank supported at least 130,000 SMEs through accounts receivable financing.

In China, loans with movable assets as collateral now amount to 3 trillion US dollars per year.

 Mr. President, access to a centralized repository of information for movable assets will encourage financial institutions to lend to our MSMEs and may even speed up the loan application process.

With the Personal Property Security, our financial institutions increase their income by issuing more loans, Filipinos will have better access to lower-interest loans, and more Filipino families can grow their business and livelihood for a brighter future.

 Mr. President, the Personal Property Security Act seeks to replicate this win-win-win scenario for the James family in Ohio – not to help parents purchase luxury vehicles for their children – but to help parents provide a better life, better future for their children through sustained livelihood.

 With access to financing, a sari-sari store can grow into a convenience store and Pera Padala center.

 With access to financing, a farmer or agri-preneur can purchase equipment to boost production and develop his produce.

 With access to financing, a small bakery can endeavor to supply to a string of coffee shops and supermarkets.

Mr. President, aking mga kagalang-galang na kapwa senador, ipasa po natin ang Secured Transactions Act at suportahan po natin ang mga maliliit na negosyanteng Pilipino na magtagumpay at umasenso ang buhay!

Maraming salamat po!

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