Solon proposes 3 measures in

I
.sync with Duterte growth agenda
N the f irst few da!'s of the hjpher te\els ot FDts
the 19-veal old RetailTrade
Liber;lizaiion Aci (RA
filing of bills in_ihe-18tlr eni"o)edbyir)reighborrtit" -- n-oi,e orherc, {he bilt 8762) are similarly
( ongress, a_ 6icotano Sing,rpore, Indonesia, seeks to cfarifv the existins necessary to encoutaqe
congressman has alFady Vietndm, lhaildnd and confusion betiveen,,oublii more FDIs in the domes"tic
Pr9pose.l urree business- Malaysid. utilily', and ,,public retail industry, Villafuerte
triendly measures that One of the law. servic?.- he said_ '
dim to open wide the Villafuerte seeks to amend, lt al5o seeks to formalize Among the
eronomy to more foreigr the 82-year otd publii tf.r" t ol funcdoos of amendments soushr hw
drrect investDrents {FDIS), Service Act, aifis to opm the ""sfe, lublic Service Viilafuerte is the loYwerini
rn sync wilh Presidenl more industries previorisly Commission to various oI the minimum Daid:
.publi'c adrd nGirJ ue -aeenc ie";
I9dd,C" ':Rpgf' P"lerte's misclassified a's capital o{ foreign-oivned
agenda of high, inclusive
growth and a more investments.
utilities,, to f6reign - create d mechanis;n to ti_\ DUSrnesses.

co_m{ortable life {or all

rates while considering a From recuirin2
Under Villatuerre,s bi[ -_'-'-- - ..ie'6i ret"."; to invest'in thE
J-"-" " tn"
$830,000
Fil*'jnos by.2022. the term "pubjic utility,; "tai""iUt" country, a foreisn firm
lhese. bjlls seeL to shall onJy iefer to the -l) admiflistratii/e remedies of would bnlv ne€d T200,000
separately _ . am_eld transmission of electricitl, the agencies throush the to enter ihe local r€rail
ouidated provisions of tle 2) djstribuhion ofelectricity, fixini of the fine"s and industly, Villafuefte's bill
rorel€nTruce tnvestments and J) waterworks and penal'ties, Villatuerfe said.
tne Act sewerage systems. - Villafuefte also sought "In order to
1j:? 1u9l{,5ervrg-
Ketart lrade Vjllatuerte sdid amendments
9lo
Liber.alization Acr-which aftendmenrs ro the 82-v"- aJ-ifiai -i',
to ReDub"Uc accommodate more
-gi"lm srits, th" foreign investors in the
are all more than 15 years old Law will free Filip{rn- i"i*nj'r"ilts e.r.f country, this brlt also
old-to make.the courlLry's fr-om ,,the mercy ,i r"* id,jj,il j"Li"ft" li.u.ti," proposes fo help ease-in
ousrness "i
more oligarchs that i,ffectively of professions,, frbm the tle entry of foreigi retailers
conducve _(Limate
to bi&, tong+erm .ontrol the market,,, thai iteri* Listed in the Foreisn by mjnimizins lie e.ruiw
rn,vesrments thdt coutd dictdte high prices but lnveAtmert and cap;talizaiioir
Neqabve Lelst
:!q:r{"'C" the domesLic detiver po6r quatir} of rrUvD pi.iileiiJ ly th" requrrements needed,"
e(onomy and generate publi( services.' tresideht. Villafuerte said. "This is in
hlrndreds ot thousands ol .,One
ley to addressjng The bill "'"-il line
decent-paying jobs for rhe rhe 5atd
also intmds to with the
country's young, skilled ampnd ttie froLiem ii--i3 r"r,l", in-"jo-ii'f#._lf oiiu _" t administration's bid to
antiquated *"eJt ofJ " make th€ Phitippines host
labor torce. provisions of The tsublc and
'we need to relar the Service ,0..r o, -iiiu medium_sized to more toreign investments
restrictions in doing Commonweatth inf,.p.;."i''"'*'iive.) and ceate a more favorabie
ji -iem"i" j' a.r t+0, r," ii inv€sbnent envitonment."
business in the.counry tr.,ii * i,";;
,Evre oecome oeal-oreaker5 pnnclpa I tdw, mdcted more
ii'; "itJ[rfi"-i
i,":JiJtlj#'i,,jtr'"", -iirlilff Villafuerte's three bilis
paid up capital of$100,000.
ror rorergn rnvestorsdespite than 80 years ago, on ' ,,ffiese,u_*a_*t"
are among the
to congressional measures
the Philippines' emerge'nce business fl.,ii *" ,r," i"i""]ei"i,iil!l_""" that Finance Secretarv
or rhe Fas-resr
1:-.ol! economjes in or public ctassified "iu"it",
a: public udJ;ttei ,,iir ,i.lf in'J'.iiri,r"," Carlos Domineuez IU hat
growrng _services,,, op"r*"i. ro if,iii"'ri_,j asked the 18th'Con$€ss to
"
Si-CSTlg-: Sxr Villafuerre said. ,ili"g"*r'io:i"t approve this vear to futfill
',:: :j..{:: .^"*i*:., re.du.ro1gcr inq
vasr
dd\ ances rn economic Dotenrjal "iio.*
.by the Presideit's goal of
"',lfl, rl'e ;;d;; i""ii,'i i" [".,"" rJ,.,g" iurther revving up the
vrrraruerte sard lhe of rlelivpry of service" jnvesl;nents,,, villafuerle economy, ceatine more iobs
appror'al,of Lhese business require charigei i"L* r"w. ;;ij:""'"' ""*' and sigirificantl; loweiins
mmdly t'djs should serve to be respoisive to the VilldJuerteaddedthebh- poverty incidence bV 2022:
dr the "op€ning act" forthe changing' ti-u.,,,-rilJ ,Lr";i.6p"j
Longress' eventudl move Villafuert"e. t" Ailiijt" u." Dominguez has
t ansre. Li teciriiltoles tv pointed out ihat th€
ro amend rhe 1987 charLer villafuerie added, his ;r#6";ii;E;;?ri#,,,
wdy, to.a proposed amendmenG t. r,,lri"i- "r."'-#iJ' L" inflows in 2017n€t FDI
Philippines'
It. t::llq rheswttch
governmenr of $10.3
to the public S€rvice Acf .,wil phiippines more aciessible billion and $9.8 billion
tederalism and liberaUzing protect the puouc rnreresi to loretgn in
ruIctH" ownershtD bv in.rcasingcompeLition, generate"moreemployment investors and 2018 under the Duterte
restrictions that hav'e ,,ihich is sten_ tb spui 6pportuniti"r " .ir,, ru administration remain
unprecedented, and are
baJred the Ph;lippine5lrom innovdlion and create
atrractrng fhe reldtively more
a countrv,, almost twice the FDTS i.
competitive Ati6, amendments to 2015 of 95.6 billirh.
page (l