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Oct 7, 2016 @ 7:54

Business groups buck agri land conversion moratorium

MANILA, Philippines – Local and foreign business groups collectively opposed yesterday the Department of Agrarian Reform (DAR)’s proposal to impose a two-year moratorium on the conversion of agricultural lands, arguing this would set back the country’s development goals.

In a statement, eight of the largest business organizations in the country expressed apprehension against the imposition of a moratorium on farmland conversion as this could hamper the goal of developing more economic zones, expanding the manufacturing industry, accelerating infrastructure projects and decongesting urban areas.

The groups, composed of the Philippine Chamber of Commerce and Industry, Foundation for Economic Freedom, Makati Business Club, Management Association of the Philippines, Philippine Exporters Confederation, American Chamber of Commerce of the Philippines, European Chamber of Commerce, and Japanese Chamber of Commerce of the Philippines, said the moratorium would also have negative impact on the entry of investments in the country.

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