Senator Loren Legarda today lauded the increase in foreign direct investments (FDIs) to the Philippines as she urged government to ensure that it would not only result in a more robust economy but also benefit poor Filipinos.
Legarda, Chair of the Senate Committee on Finance, made the statement following the report of Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. that FDI net inflows during the period January-November 2017 exceeded the projection for 2017.
The Senate approved today on second reading five treaties, namely, Double Taxation Avoidance Agreement (DTAA) Between the Philippines and Mexico, Agreement Establishing the ASEAN+3 Macroeconomic Research Office (AMRO) as an International Organization, DTAA Between the Philippines and Thailand, Budapest Convention on Cybercrime, and DTAA Between the Philippines and Sri Lanka.
Senator Loren Legarda today said that, as Chair of the Senate Committee on Finance, she has allocated funds for the Philippine Rise (Benham Rise) expedition as early as 2016 and every year thereafter.
Legarda, who also chairs the Senate Committee on Foreign Relations, said that in 2016, she allocated Php500 Million in the budget of the Department of Environment and Natural Resources-Biodiversity Management Bureau’s (DENR-BMB) Coastal and Marine Ecosystems Management Program (CMEMP) to fund research and biodiversity assessment nationwide. Php47 Million of the Php500 Million was allocated for Philippine Rise, for equipment, for assessment and for its management framework.
Senator Loren Legarda today hailed the President’s signing into law of the Free Irrigation Service Act (Republic Act No. 10969), which will benefit small farmers.
Legarda, co-author of the measure, said that the law ensures that small farmers with landholdings of eight hectares and below will continue to be exempted from paying irrigation service fees (ISF) for water derived from irrigation systems under the National Irrigation Administration (NIA).
Sponsorship Speech of Senator Loren Legarda
Double Taxation Avoidance Agreements with Sri Lanka, Thailand and Mexico
12 February 2018 | Senate Session Hall
Mr. President,
I have the honor to seek approval of three Double Taxation Avoidance Agreements (DTAAs), namely:
Senate Resolution No. 615 under Committee Report No. 237, “Resolution Concurring in the Ratification of the Convention Between the Government of the Republic of the Philippines and the Government of the Kingdom of Thailand for the Avoidance of Double Taxation and […]
