The House of Representatives remains committed to crafting legislation that will help establish and strengthen the country’s digital economy and open more opportunities for foreign investments, according to AAMBIS-OWA party-list Sharon Garin.
Garin chairs the House committee on economic affairs.
In the 2020 Virtual Philippines Business Mission organized by the US-Asean Business Council, the congresswoman assured delegation members that with the support of the House leadership, measures aiming to improve the country’s digital infrastructure and liberalize the country’s economy are now being fast-tracked.
“We want to be ready with the structure of having foreign direct investments, where there are less stringent regulations. We also want to be prepared in a sense that the digital economy will be ready by the time that everybody is ready to expand their business,” Garin said.
She argued that as the Covid-19 pandemic continues to hamper the country’s economic growth, the need for new capital, ideas, and technology becomes imperative.
As the main sponsor of the New Public Service Act under House Bill 78 and Foreign Direct Investments Act under House Bill 300 which were approved by the House in March 2020 and September 2019, she renewed her call for the passage of those measures.
Garin maintained that both will aid economic recovery and provide the country’s much needed-capital.
The 2020 Virtual Philippines Business Mission was held on September 3 as a platform for dialogue between the private sector and key government institutions.