Last 19 February, the Senate Committee on Trade and Industry convened a technical working group to review and comment on pending Senate bills on retail trade amendments. The discussions also focused on the salient features of the unnumbered substitute bill which include the following: 1) minimum paid-up capital requirement of USD 500,000; 2) USD 250, 000 per-store requirement; 3) the inclusion of a reciprocity provision, and 4) the retention of paid-up capital in the Philippine banks for close of operations.
In close partnership with government, businesses, civil society, and academia, ECCP passionately works to enhance the business environment for both European and Filipino companies.