In its position paper on Senate Bill 1670, the GCG pushed for the creation of a Maharlika Investment Corporation, which is envisioned to be an independent corporate body under the proposed bill. The MIC is intended to govern and manage the proposed state investment fund.
The GCG also said that since funding from government financial institutions and GOCCs may affect their respective investment strategies and performance scorecards, the proposed investments to the MIC must necessarily be within and allowed by their respective charters. GCG’s comments were submitted to the Senate Committee on Banks, Financial Institutions, and Currencies on Jan. 30, 2023.
Senate Bill No. 1670 was filed on Jan. 12, 2023, which serves as the counterpart bill for the measure approved by the House.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trade chief touts BOI’s P344B investment leads as promising | BusinessMirrorTRADE Secretary Alfredo E. Pascual said the potential investment leads being processed by the Board of Investments (BOI) looks promising and may allow the agency to meet its targets before mid-year. “So far, the agency still has potential investment leads of around P344 billion that will still be processed and,…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Equity cap still hobbling PHL investment drive, says solon | Jovee Marie de la CruzDESPITE the enactment of business-friendly laws during the previous administration, foreign direct investment (FDI) inflows have not been as large as those streaming to the country’s Southeast Asian neighbors because of the Philippines’s restrictive, inward-looking Constitution, a senior lawmaker said on Sunday. The restrictive charter, he said, turns off foreign capitalists because…
Source: BusinessMirror - 🏆 19. / 59 Read more »
BOI optimistic on hitting P1-T investment approvalsThe Board of Investments expressed confidence in hitting P1 trillion worth of investment approvals target this year, banking on what it called the Marcos administration’s “aggressive and strategic” investment promotion initiatives. | AldenMonzonINQ /PDI
Source: inquirerdotnet - 🏆 3. / 86 Read more »
‘Blended financing’ could unlock private investment as fiscal resources dwindle - BusinessWorld OnlineLegislation proposing a “blended financing” model will help the Philippines tap more private funding, giving it more financing flexibility after its own ability to invest in projects was weakened by the pandemic, analysts said.
Source: bworldph - 🏆 9. / 68 Read more »
BoI expects P1-T investment goal to be 80-90% filled by midyear - BusinessWorld OnlineTRADE Secretary Alfredo E. Pascual expects the Board of Investments (BoI) to hit its P1-trillion investment target for 2023 following “serious interest” from foreign investors. “With investment prospects being very positive, and as we continue to receive serious interest from global investors, we are definitely on track to meeting our annual investment target of P1 […]
Source: bworldph - 🏆 9. / 68 Read more »
BOI confident to hit P1-T investment target in 2023The Board of Investments (BOI) is confident it would hit its P1 trillion investment approvals target for 2023, citing serious interests from global investors.
Source: manilabulletin - 🏆 25. / 51 Read more »