Believing in the great economic benefits and potential of liberalized policies on investment activities, Senator JV Ejercito supported the outcome of the Technical Working Group (TWG) for his proposed legislation, Senate Bill No. 2517 (An Act Removing/Amending Investment Restrictions in Specific Laws Governing Adjustment Companies, Lending Companies, and Financing Companies Cited in the Foreign Investment Negative List, Except Those in the Constitution).
The bill aims to liberalize investment activities and areas which significantly contribute to industrialization and socioeconomic development and sustainable inclusive growth. These investment activities include lending, adjustment and financing which are governed by specific laws.
The Chairman of the Economic Affairs committee welcomes the comments of the resource persons, to come up with a better version of the bill. The Joint Foreign Chambers of the Philippines, for instance, suggested the inclusion of investment houses in the coverage of liberalization. The other agencies gave their minor comments and suggestions.
During the last hearing of the committee, Ejercito called for support of the measure, saying that this could bridge the gap in reaching the full potential of the country’s economic development.
The group is set to hold another TWG to finalize the proposed changes and improvements in the bill.
Rikki Mathay /( 02) 5526748