US Welcomes E-Commerce Law -- Roxas
Trade and Industry Secretary Mar Roxas said yesterday that the ECommerce Law is eagerly awaited by US business executives whom the President will meet when he visits the United States next month.
According to Secretary Roxas, the E-Commerce Law boosts the President's vision to convert the Philippines into the hub for information technology services and ECommerce in Asia.
The Philippines will focus his sales pitch on information technology and the Philippines' political stability, tradition of democracy, and professional skills of Filipinos making it the leading business location in the Asia-Pacific.
Filipino and foreign investors will be confident of their commercial transactions on the internet with the E-Commerce Law because it will give electronic documents the same legal status as paper contracts and therefore will bind signatories legally.
These contracts on the internet are acceptable in courts as evidence, Roxas said.
The new law, he said, will also assure investors of improved protection of their intellectual property rights.
The E-Commerce Law, he said, will enable Philippine companies and Filipino workers to compete for the billions of dollars-worth of business opportunities in the global marketplace.
The President is due to sign the E-Commerce bills into law next week.
"The Philippines offers IT service investors, locators and buyers a professional high productivity, reliability, low-cost, lucrative Asian-based operations," he said. …