Wednesday, February 1
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Tag: MSMEs

Bello clashes with Pangilinan, Sotto over foreign investments, trade

Bello clashes with Pangilinan, Sotto over foreign investments, trade

News
THE LIBERALIZED ‘foreign-oriented’ policies led by the incumbent Senate President and vice presidential aspirant Vicente “Tito” Sotto III did not bode well with former Akbayan Partylist representative Walden Bello.  Bello wanted the amendments of Retail Trade Liberalization Act and Foreign Investment Act to be repealed, saying that Sotto’s business policies are detrimental especially to small businesses. He also hit Sen. Francis Pangilinan for signing these laws. “Paano ‘yan? Sinasabi niyo for Filipino kayo, and then you’re liberalizing all these laws?” he said. The amendments on these laws consist of decreasing the investments required for foreign enterprises, eliminating a certificate of pre-qualification from the Philippine Board of Investments, and reducing the minimum cap...