Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Foreign chambers back passage of key reforms before 19th Congress adjourns

Foreign chambers back passage of key reforms before 19th Congress adjourns – BusinessWorld Online


      
      
      
      
      








PHILSTAR FILE PHOTO

THE Joint Foreign Chambers (JFC) asked legislators to pass key economic measures, including the Konektadong Pinoy Act and the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, before the 19th Congress adjourns.

In a statement on Sunday, the JFC said that it sent letters to the House and Senate leaders noting the progress made in introducing and moving forward with measures to attract more investment and create jobs.

In the letter, the group indicated its support for bills that have “already secured (approval) from both chambers of Congress,” particularly “a number of important reforms have reached the last step of the legislative process, or the Bicameral Conference Committee,” the JFC said.

Apart from the Konektadong Pinoy Act, the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, it also cited amendments to Republic Act No. 7652, or the Investor’s Lease Act.

According to the JFC, the Konektadong Pinoy Law will help provide accessible, affordable, and reliable internet.

Meanwhile, the proposed fiscal mining regime streamlines taxes on the industry to provide clarity and consistency for investors in critical minerals.

It sees the amendments to the Investor’s Lease Act creating a more predictable leasehold system to attract more foreign investment.

“As the 19th Congress nears its end, the JFC is hopeful that these three major reform bills will be enacted without delay,” it said.

“We see their passage as key to unlock new economic opportunities and strengthen the Philippines’ overall competitiveness in the ASEAN region,” it added. — Justine Irish D. Tabile    

CEDTyClea





    You May Also Like

    Stock Markets

    PHILIPPINE President Ferdinand R. Marcos, Jr. met with Laos Prime Minister Sonexay Siphandone on May 26 as part of the 46th ASEAN Summit and...

    Stock Markets

    1 of 3 CHINESE AUTO giant Geely Auto recently arranged an international media tour predicated on the Auto Shanghai 2025. In a release, the...

    Finance

    Electric vehicle (EV) sales in the UK continued to surge in April, with battery electric cars claiming more than one in five new registrations,...

    Finance

    Tesla has encountered legal headwinds in its push to trademark the terms “Robotaxi” and “Cybercab”, dealing a blow to the company’s highly anticipated autonomous...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.