Incoming congress asked to ease foreign ownership limits


Posted at May 14 2013 07:38 PM | Updated as of May 15 2013 03:38 AM

MANILA -- The Management Association of the Philippines (MAP) said it will ask the incoming 16th Congress to revive debates on easing constitutional restrictions on foreign ownership.

Melito Salazar, MAP president, said his group is happy with the election turnout as lawmakers who are familiar with bills the business sector has been pushing for are likely to win fresh terms.

Salazar added that the group will seek sponsorship of bills meant to amend the Philippine constitution.

He further said his group hopes the incoming Congress will soon start work on legislation on mining taxes because without it, no new mining permits may be issued. -- ANC