MANILA, Philippines (Xinhua) - Philippine President Benigno Aquino III is planning to ask Congress to enact a law that will protect investors, a senior government official said Wednesday.

"We may propose in Congress a Magna Carta for investors to protect investors' rights," Trade Secretary Gregory Domingo said in the year-end Philippine economic briefing.

He said a draft bill could be forwarded to Congress by next year.

The President will convene the Legislative-Executive Development Advisory Council this month to present the 17 priority bills where the Magna Carta for investors is not included.

Domingo said that all the stakeholders will be consulted in drafting the bill.

He said that the government is also "pondering the creation of domestic ecozones."

But he admitted that it will be a subject of thorough study due to "significant tax implication."