By: Elena Grace Flores
Senator Imee Marcos’ Claim
Senator Imee Marcos explains her claim on the Duterte administration’s 3 bills for the economy. This is in her capacity as the chair for economic development. Senate Bill 2094 seeks to amend some provisions to improve the delivery of basic services in the country. The Senator also said that the use of nuclear is now regulated. But there are Korean and Russian offers to revive the Bataan nuclear power plant. Although she is confident that the new technology allows the country to get a better renewable source of energy and internet.
Relaxed Laws on Foreign Investments
Senate Bill 1156 amends some provisions of the Foreign Investments Act of 1991. It considers e-commerce business entities as “domestic market enterprises” in particular. This means that those can now be fully owned by non-Filipino nationals with not much hassles.
Lower Paid Up Capital
Senate Bill 1840 seeks to amend the Retail Trade Liberalization Act of 2000 to lower required paid-up capital for foreign enterprises. Senator Imee claims that there’s a need to prevent red tape in this area.