Photo Release

February 1, 2023

More investors in PH: Sen. Nancy Binay inquires about the entry of foreign investors to the Philippines as a result of new laws passed by Congress. Binay on Wednesday, February 1, 2023, asked Trade Sec. Alfredo Pascual on the country's yields from the various state visits and overseas trips of Cabinet officials, and if new laws encouraging investments -- such as the Retail Trade Liberalization Act (Republic Act No. 8762) and amendments to the Public Service Act (RA 11659) -- were mentioned in their talks with their foreign counterparts. "Because the executive repeatedly told us that these laws will encourage more investors into our country," Binay recalled in Filipino during the Commission on Appointments' deliberation on Pascual ad interim appointment. In response, Pascual confirmed that the country has already been benefitting from the said laws, noting an influx of prospective investors particularly in the telecommunications, renewable energy and retail sectors. (Bibo Nueva España/Senate PRIB)