Photo Release

Drilon urges colleagues to support passage of Retail Trade Liberalization Act: Senate Minority Leader Franklin Drilon, principal author of Senate Bill No. 1840 or the Act Amending Republic Act. No. 8762, Otherwise Known as the Retail Trade Liberalization Act of 2000, by Lowering the Required Paid-Up Capital for Foreign Retail Enterprises, enjoins his colleagues to support the passage of the bill during the hybrid plenary session Tuesday, March 2, 2021. Drilon said the immediate passage of the measure will “remove the steam that powers the Cha-Cha train” that is presently being debated at the House of Representatives. “We are all bombarded with the so-called economic change…we do not need to be bothered by such task because we can immediately better the investment climate. Here, right now, amending the Retail Trade Liberalization Act will address a number of foreign investment roadblocks,” Drilon said. (Screen grab/Senate PRIB)