{"id":575848,"date":"2014-02-09T11:29:24","date_gmt":"2014-02-09T03:29:24","guid":{"rendered":"https:\/\/newsinfo.inquirer.net\/?p=575848"},"modified":"2014-02-09T11:54:04","modified_gmt":"2014-02-09T03:54:04","slug":"congress-to-focus-on-economic-measures-to-attract-investors-drilon","status":"publish","type":"post","link":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon","title":{"rendered":"Congress to focus on economic measures to attract investors \u2013 Drilon"},"content":{"rendered":"\n<div style=\"width: 212px\" class=\"wp-caption alignleft\"><img decoding=\"async\" class=\"   \" src=\"https:\/\/newsinfo.inquirer.net\/files\/2013\/11\/Drilon.jpg\" alt=\"\" width=\"202\" height=\"152\" \/><p class=\"wp-caption-text\">Senate President Franklin Drilon. INQUIRER FILE PHOTO<\/p><\/div>\n<p>MANILA, Philippines \u2013 Congress will focus on economic measures in the following months, in a bid to attract more investors into the country, Senate President Franklin Drilon said Sunday.<\/p>\n<p>Drilon, in a statement, said he met with House Speaker Feliciano Belmonte and they agreed to put emphasis on bills that \u201cwill maximize the country\u2019s potential business strengths, and ensure the nation\u2019s macroeconomic and fiscal sustainability and enhance the overall Philippine climate for greater business competition and foreign investments.\u201d<\/p>\n<p>The Senate President reasoned that more investments will create more jobs and economic opportunities for Filipinos.<\/p>\n<p>Among the measures that will soon be tackled by the two chambers of Congress are the proposed Consolidated Investments and Incentives Code of the Philippines and the Tax Incentives Management and Transparency Act.<\/p>\n<p>\u201cThere is a need to reassess and harmonize our numerous fiscal and non-fiscal incentives and subsidies to foreign and local investors to avoid overlapping and redundant incentives to cut unnecessary revenue loss,\u201d Drilon said.<\/p>\n<p>The Electric Power Industry Reform Act (Epira) is also up for amendment \u201cto find ways to address the woes of our people with regard to the high electricity rates, which the EPIRA was supposed to address.\u201d<\/p>\n<p>Congress will also explore the possibility of implementing higher excise taxes on mining, similar to what other countries have done, without dissuading additional investments in the sector.<\/p>\n<p>Meanwhile, Drilon said the Build-Operate-Transfer law will be further fine-tuned to align with the government\u2019s Public-Private Partnership (PPP) scheme.<\/p>\n<p>\u201cSimilarly, we must amend the Cabotage law to allow foreign-registered vessels to engage in coastwide trade in the country, thereby opening the market to competition, bringing down transportation costs by sea, and enabling the country to fully utilize supply chain products,\u201d he said.<\/p>\n<p>The Senate President promised \u201cmassive reforms\u201d for finance-related government institutions.<\/p>\n<p>\u201cWe are looking at restructuring important institutions to halt the economic damage from rampant money laundering, smuggling and other financial crimes in the country,\u201d\u00a0Drilon said.<\/p>\n<p>Related Stories:<\/p>\n<p><a href=\"https:\/\/newsinfo.inquirer.net\/424519\/anti-trust-bill-among-economic-measures-to-occupy-16th-congress-belmonte\" target=\"_blank\">Anti-trust bill among economic measures to occupy 16th Congress\u2014Belmonte<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Congress will focus on economic measures in the following months, in a bid to attract more investors into the country, Senate President Franklin Drilon said Sunday.<\/p>\n<p>Drilon, in a statement, said he met with House Speaker Feliciano Belmonte and they agreed to put emphasis on bills that \u201cwill maximize the country\u2019s potential business strengths, and ensure the nation\u2019s macroeconomic and fiscal sustainability and enhance the overall Philippine climate for greater business competition and foreign investments.\u201d<\/p>\n","protected":false},"author":63,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34,45],"tags":[206083,245,51665,206079,1044],"byline":[102505],"source":[206075],"column":[],"editor":[],"videographer":[],"position":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Congress to focus on economic measures to attract investors \u2013 Drilon | Inquirer 黑料社<\/title>\n<meta name=\"description\" content=\"Congress will focus on economic measures in the following months, in a bid to attract more investors into the country, Senate President Franklin Drilon said Sunday.  Drilon, in a statement, said he met with House Speaker Feliciano Belmonte and they agreed to put emphasis on bills that \u201cwill maximize the country\u2019s potential business strengths, and ensure the nation\u2019s macroeconomic and fiscal sustainability and enhance the overall Philippine climate for greater business competition and foreign investments.\u201d\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Congress to focus on economic measures to attract investors \u2013 Drilon | Inquirer 黑料社\" \/>\n<meta name=\"twitter:description\" content=\"Congress will focus on economic measures in the following months, in a bid to attract more investors into the country, Senate President Franklin Drilon said Sunday.  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Drilon, in a statement, said he met with House Speaker Feliciano Belmonte and they agreed to put emphasis on bills that \u201cwill maximize the country\u2019s potential business strengths, and ensure the nation\u2019s macroeconomic and fiscal sustainability and enhance the overall Philippine climate for greater business competition and foreign investments.\u201d","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon","twitter_card":"summary_large_image","twitter_title":"Congress to focus on economic measures to attract investors \u2013 Drilon | Inquirer 黑料社","twitter_description":"Congress will focus on economic measures in the following months, in a bid to attract more investors into the country, Senate President Franklin Drilon said Sunday.  Drilon, in a statement, said he met with House Speaker Feliciano Belmonte and they agreed to put emphasis on bills that \u201cwill maximize the country\u2019s potential business strengths, and ensure the nation\u2019s macroeconomic and fiscal sustainability and enhance the overall Philippine climate for greater business competition and foreign investments.\u201d","twitter_image":"https:\/\/newsinfo.inquirer.net\/files\/2013\/11\/Drilon.jpg","twitter_creator":"@inquirerdotnet","twitter_site":"@inquirerdotnet","twitter_misc":{"Written by":"","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon#article","isPartOf":{"@id":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon"},"author":{"name":"","@id":""},"headline":"Congress to focus on economic measures to attract investors \u2013 Drilon","datePublished":"2014-02-09T03:29:24+00:00","dateModified":"2014-02-09T03:54:04+00:00","mainEntityOfPage":{"@id":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon"},"wordCount":360,"commentCount":0,"publisher":{"@id":"https:\/\/newsinfo.inquirer.net\/#organization"},"image":{"@id":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon#primaryimage"},"thumbnailUrl":"https:\/\/newsinfo.inquirer.net\/files\/2013\/11\/Drilon.jpg","keywords":["Congress","Economy","Epira","Nation","Philippines"],"articleSection":["Latest 黑料社 Stories","Nation"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon#respond"]}],"copyrightYear":"2014","copyrightHolder":{"@id":"https:\/\/www.inquirer.net\/#organization"}},{"@type":"WebPage","@id":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon","url":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon","name":"Congress to focus on economic measures to attract investors \u2013 Drilon | Inquirer 黑料社","isPartOf":{"@id":"https:\/\/newsinfo.inquirer.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon#primaryimage"},"image":{"@id":"https:\/\/newsinfo.inquirer.net\/575848\/congress-to-focus-on-economic-measures-to-attract-investors-drilon#primaryimage"},"thumbnailUrl":"https:\/\/newsinfo.inquirer.net\/files\/2013\/11\/Drilon.jpg","datePublished":"2014-02-09T03:29:24+00:00","dateModified":"2014-02-09T03:54:04+00:00","description":"Congress will focus on economic measures in the following months, in a bid to attract more investors into the country, Senate President Franklin Drilon said Sunday. 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