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Philippines-Australia cooperation goes full steam ahead: Senate President Francis Joseph Escudero received at the Senate Ceremonial Hall, the Ambassador of Australia to the Philippines, Her Excellency HK Yu, on 9 July 2024, Wednesday.

The Ambassador congratulated Senator Escudero on his election as President of the Philippine Senate. Senate President Escudero laid out some of the key priority measures as discussed during the Legislative-Executive Development Advisory Council (LEDAC) with President Marcos Jr, namely: the CREATE MORE Act to improve the current regulations by enhancing the tax and administrative incentives available to companies, and clarifying rules on implementing VAT incentives; amendments to the Foreign Investors’ Long Term Lease Act to reinforce the opening of the economy to foreign investments by extending the lease of private lands (excluding agricultural lands) to foreigners from a maximum of 75 years to 99 years; and, amendments to the Right-of-Way Act to expedite the implementation of critical infrastructure projects by streamlining the right-of-way acquisition.

Senate President Escudero expressed his appreciation to Australia’s support for the Philippines’s stand in upholding the rule of law especially with regard to the West Philippine Sea issue.

Ambassador HK Yu opined that amidst the current challenges, there is a need for a united response and that the Philippines and Australia must continue to collaborate with like-minded international partners especially through mechanisms in place to address challenges to defense and security, as well as agriculture. (OIRP/Joseph Vidal)