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00:00President Ferdinand R. Marcos, Jr. has passed two important legislative amendments today.
00:07One of them is the Negros Island Region Act, which helps to unify the provinces of Negros Occidental, Negros Oriental, and Siquijor
00:17as an administrative region under this law.
00:21This will strengthen the ease of doing business in the region, which will give investors confidence
00:30because efficient government transactions can be carried out.
00:34Meanwhile, President Marcos will also sign the Real Property Valuation and Assessment Reform Act.
00:41This will speed up the automation of services provided by local governments
00:47which will result in a better tax collection and better service to the public.
00:54Real Property Information System is included here, which will maintain the up-to-date electronic database
01:02of real property transactions and declarations throughout the country.