NEDA, DTI chiefs laud PRRD’s order to pass economic reform bills

Socioeconomic Planning Secretary Karl Kendrick Chua and Trade Secretary Ramon Lopez have gladly received the directive of President Rodrigo Duterte to legislators to pass bills that will further open the economy to better opportunities and more positive outcomes. In a post-State-of-the-Nation Address (SONA) interview with PTV, both Chua and Lopez underscored the urgency to pass legislation to amend the Retail Trade Liberalization Act, Public Service Act, and the Foreign Investments Act. “It is important that our business environment is friendly to foreign investors so that we can attract more investments. Because if there are more investments, there will be more jobs for Filipinos,” Lopez mentioned in mixed English and Filipino. Duterte inquired Congress in his final SONA on Monday to pass the three economic reform legislative measures as said bills were certified as urgent. “I would like to renew my call to Congress to immediately pass the amendments of priority legislative measures such as the Foreign Investments Act, the Public Service Act, and the Retail Liberalization Act,” he said. The amendments to Foreign Investments Act aim to grant more equity for foreign investors that will hopefully bring their businesses here to the country.

 

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