Photo Release

Senate approves amendments to Foreign Investment Act: Sen. Imee Marcos, chairperson of the Committee on Economic Affairs, accepts amendments from Senate Minority Leader Franklin Drilon and Sen. Richard Gordon to Senate Bill No. (SBN) 1156 or the act amending Republic Act No. 1042 otherwise known as the Foreign Investment Act of 1991. The bill, certified as urgent by President Rodrigo Duterte, was approved on third and final reading Tuesday, September 14, 2021, with 21 affirmative votes, 0 negative and 0 abstention. SBN 1156 seeks to improve investment factors to attract, promote, and welcome foreign investment activities which contribute to the country's national industrialization and socioeconomic development. (Screen grab/Senate PRIB)