By Manila Bulletin
The bicameral body in Congress has approved the amended minimum investment hurdle for foreign retailer at P25 million with per store minimum of P10 million, industry sources said.
The amended Retail Trade Liberalization minimum investment hurdle for foreign retailers is up for formal approval of Congress before signing by President Duterte. Amendment to the 20-year old Retail Trade Liberalization Act is among the priority economic reform bills of the Duterte administration. It is aimed at attracting higher foreign direct investments and creating more jobs.
Earlier, the Senate approved an investment hurdle of P50 million while the House agreed for a lower P10 million minimum investment requirement for foreign retailers. The Philippine Retailers Association (PRA) said the P25 million minimum capital requirement at the bicam was seen as a compromise by both houses.
READ full story HERE.
