DTI Calls for Further Changes in Domestic Retail Trade Law

Manila Bulletin, October 7, 2014 | Go to article overview

DTI Calls for Further Changes in Domestic Retail Trade Law


The Department of Trade and Industry (DTI) has sought for further amendments of domestic retail trade law in the country in an effort to further attract investors in the country. Amendments to the Retail Trade Liberalization Act was among the list of legislative measures presented by DTI during the last Philippine Economic Briefing. To ensure sustainable growth in 2014 and beyond, the DTI has also laid out its priority legislative agenda. These measures include Promoting a National Competition Policy for the Philippines, Establishing the Revenue Sharing Agreement for Large Scale Metallic Mining, Fiscal Incentives Rationalization, Granting Broader Protection for Consumers, Promoting the Use of Electronic Publication of Laws and, Customs Modernization and Tariffs Act, Amendments to the Foreign Investment Act, Amendments to the Retail Trade Liberalization Act, Other Government-related Issuances, National Quality Infrastructure, and Liberalization of the PH Cabotage Policy. Already, Isabela Rep. Giorgidi Aggabao has filed a bill granting 100 percent ownership to foreign capitalists who will engage in retail business in the country. House Bill 4402 seeks to amend the Retail Trade Liberalization Law or Republic Act 8762 by removing the capital requirement provision of the retail trade law that prohibits foreign investors from owning wholly retail business in the Philippines. …

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