Published April 16, 2021, 12:12 AM
Faced by continuing economic doldrums and a raging pandemic, President Duterte certified as urgent the immediate enactment of Senate Bill No. 2094 amending the Public Service Act, Senate Bill No. 1156 amending the Foreign Investments Act of 1991, and Senate Bill No. 1840 amending the Retail Trade Liberalization Act of 2000.
The request was coursed through Senate President Vicente Sotto III as the three bills have already been passed by the House of Representatives on third and final reading while these were still being threshed out pending second reading in the Senate when Congress went on recess last March 26.
Senate Minority Leader Franklin Drilon remarked that if these three bills were finally enacted into law, the members of the House proposing that Congress be convened into a constituent assembly to amend “restrictive” economic provisions of the 1987 Constitution would have lost justification of their advocacy.
MANILA, Philippines, April 14 (Philippine Inquirer/ANN) President Rodrigo Duterte has urged Congress, especially the Senate, to fast-track three bills which will further open up the economy to more foreign investors and, according to his economic managers, help the economy recover from pandemic-induced recession.
Duterte wants Congress to pass three economic bills relaxing restrictions on foreign investments in PH
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Metro Manila (CNN Philippines, April 13) – President Rodrigo Duterte has called on Congress to immediately pass three economic bills that seek to relax foreign investments, in a bid to aid the country s economic recovery amid the COVID-19 pandemic.
In a letter addressed to Senate President Vicente Sotto III, Duterte requested the immediate passage of Senate Bills 2094, 1156, and 1840. The three measures are pending in their respective committees and are due to be passed on second reading.
The President certified as urgent the passage of these economic bills to provide a more conducive investment climate, increase job opportunities, foster more competition, and further spur the country s economic growth.
Duterte certifies 3 economic bills as urgent gmanetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gmanetwork.com Daily Mail and Mail on Sunday newspapers.
Three economic bills seeking to boost job generation and economic recovery have been certified as urgent by President Duterte to pave the way for approval in both chambers of Congress and enactment into laws.