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Senate ratifies bicam report on Retail Trade Liberalization Law: Sen. Aquilino “Koko” Pimentel III, chairman of the Committee on Trade, Commerce and Entrepreneurship, sponsors the bicameral conference committee report on the disagreeing provisions of Senate Bill No. 1840 and House Bill No. 59 which seeks to amend Republic Act No. 8762, or the Retail Trade Liberalization Act, lowering the required paid-up capital for foreign retail enterprises. Pimentel, during the hybrid plenary session Monday, September 20, 2021, said both houses of Congress agreed to lower the minimum capitalization requirement for foreign retailers to P25 million, a move, which they hope, would attract more investments and create more jobs for Filipino people. “This is a certified measure. This is one of the three measures specifically requested by the Duterte administration and we are complying and giving it to them, under your leadership,” Pimentel, addressing Senate President Vicente C. Sotto III, said. The bicameral conference committee report was adopted and ratified by the chamber. (Henzberg Austria/Senate PRIB)