Latest Breaking News On - Uota foreign retailer shall havea minimum paid up capital of php25 million quot the current law sets required at usd2 5 or php119 67 also mandates entry retailers coming from countries that do not prohibit filipino in case engaged retail trade through more than one physical store - Page 1 : comparemela.com

(File photo) MANILA - President Rodrigo Duterte has signed into law a measure that would further open up the Philippine retail sector to more foreign retail businesses by lowering their required paid-up capital. Republic Act (RA) 11595, which amends RA 8762, also known as the Retail Liberalization Act of 2000, was signed by Duterte on Dec. 10, 2021, and was released to reporters on Thursday. Duterte earlier certified the bill as urgent as part of efforts to encourage the entry of more investors and further boost economic recovery amid the prevailing coronavirus disease 2019 (Covid-19) pandemic. Under the law, "a foreign retailer shall have a minimum paid-up capital of PHP25 million." The current law sets the required capital at USD2.5 million or PHP119.67 million. The law also mandates the entry of foreign retailers coming from countries that do not prohibit the entry of Filipino retailers. In the case of foreign retailers engaged in retail trade through more than one physica

Rodrigo duterteExchange commissionSenate onNational economicDevelopment authorityRetail liberalization actRepresentatives billSenate billIle photo manila president rodrigo duterte has signed into lawa measure that would further open up the philippine retail sector to more foreign businesses by lowering their required paid capital republic act ra 11595Hich amends ra 8762Lso known as the retail liberalization act of 2000As signed by duterte on dec 10Nd was released to reporters on thursday duterte earlier certified the bill as urgent part of efforts encourage entry more investors and further boost economic recovery amid prevailing coronavirus disease 2019 covid 19 pandemic under lawUota foreign retailer shall havea minimum paid up capital of php25 million quot the current law sets required at usd2 5 or php119 67 also mandates entry retailers coming from countries that do not prohibit filipino in case engaged retail trade through more than one physical storeHe minimum investment per store must be at least php10 million quot provided that this requirement shall not apply to foreign investors and retailers who are legitimately engaged in retail trade were required comply with the time of effectivity act department industrySecurities and exchange commission