Senator Win Gatchalian is pushing for the amendment of the Foreign Investments Act (FIA) of 1991 in a bid to provide a renewed boost to the entry of foreign direct investments (FDI) into the country and stimulate job creation.
A bill sponsored by Senator Win Gatchalian that seeks to further strengthen the powers and functions of the Authority of the Freeport Area of Bataan (AFAB) has secured the nod of the Senate on third and final reading.
Senator Win Gatchalian filed a bill amending Republic Act No. 8182, or the Official Development Assistance (ODA) law, aimed at requiring foreign bidders and contract awardees to hire local workers for manual and non-technical jobs, for the “primordial protection and promotion of interests of the ordinary Filipino worker.”
The Senate Committee on Economic Affairs plans to finish at least three key economic-related bills that will help the country become more adaptable to current and future business demands and trends, according to Senator Win Gatchalian.
Despite poverty incidence dropping to a three-year low, the government needs to continue providing Filipinos with more well-paying jobs to increase the pace of poverty reduction in the country, according to Senator Win Gatchalian.
Senator Win Gatchalian lauded the Department of Finance (DOF) for extending greater transparency on foreign loan agreements the government entered into to bankroll the various infrastructure projects.
Senator Win Gatchalian urged the Department of Transportation (DOTr) to fast-track the transport-related projects included in the Duterte administration’s 75 flagship infrastructure projects amid an investigative report revealing numerous cancellations of the of the Philippine National Railways’ (PNR) scheduled trips.
Senator Win Gatchalian has urged government agencies involved in the planning and implementation of the Duterte administration’s Build, Build, Build (BBB) program to extend greater transparency on foreign loan agreements the government entered into to bankroll the various infrastructure projects.
Senator Win Gatchalian stressed the need to amend the country’s current economic laws to foster a more competitive business environment in the Philippines as he called on the Senate to accelerate the passage of much-needed legislative reforms designed to make the country more adaptable to current and future business demands and trends.