Businessmirror july 25, 2016

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“Vote your conscience.”—Texas Sen. Ted Cruz, who withheld his endorsement from Donald Trump as he addressed the Republican National Convention in Cleveland. AP

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2015 environmental Media Award leadership award 2008

“This measure is in no way against democracy, the law and freedoms.”— Turkish President Recep Tayyip Erdogan, after declaring a three-month state of emergency following a botched coup attempt last weekend. AP

“It’s a great day for civil rights across America, and it’s a critically important achievement for voters throughout Texas who have as of late been routinely mistreated by state leaders.”—Houston lawyer Chad Dunn, after a federal appeals court ruled that Texas’s strict voter ID law discriminates against minorities and the poor, and must be weakened before the November elections. AP

BusinessMirror

www.businessmirror.com.ph

A broader look at today’s business n

Monday, July 25, 2016 Vol. 11 No. 289

‘FOI as EO inadequate, act of Congress more potent’ By Butch Fernandez @butchfBM & Jovee Marie N. dela Cruz @joveemarie

L

awmakers said Congress should enact the proposed Freedom of Information (FOI) measure into law, instead of as mere executive order (EO), to put more vigor into government efforts to fight corruption. “An FOI law will strengthen the right of Filipinos to information held by the government by full public disclosure of all government transactions,” First District Rep. Raul V. del Mar of Cebu City said.

INSIDE

an entire life devoted to education

Del Mar said the proposed FOI Act he filed covers the Executive, Legislative and Judicial branches, including the national government and all its agencies, departments, bureaus, constitutional commis-

sions and mandated bodies, offices of the senators and representatives, the Supreme Court and all lower courts established by law. Local governments and all their agencies, regulatory agencies, chartered institutions, governmentowned or -controlled corporations, including wholly owned or controlled subsidiaries, offices and instrumentalities, government financial institutions, state universities and colleges will also be covered. Continued on A2

17TH CONGRESS OPENS

E4

No money-out option for govt

We still need a law as a matter of right.”—Pimentel

BMReports

perspective

P25.00 nationwide | 5 sections 36 pages | 7 days a week

PHL’s ‘archaic’ trade laws up for review

froome turns focus to rio olympics

PPP Lead Alberto C. Agra

A

re implementing agencies (IAs) required to shell out money for publicprivate partnership (PPP) arrangements? What is the appropriate PPP modality for a no cash-out option on the part of the government? Why is this option popular for IAs, particularly local government units (LGUs)? Aside from cash, what can an IA contribute so that it will have a “skin” in the project? Continued on A14

4 No Money-Out Benefits

Fiscal Space

Less Dependency Hundreds of container vans are piled at the North Harbor in Tondo, Manila. According to a report, the Philippine Chamber of Commerce and Industry has prescribed short- and long-term solutions to address the congestion at the Port of Manila that is currently affecting the local business sector. ALYSA SALEN By Jovee Marie N. dela Cruz @joveemarie @ReaCuBM

& Rea Cu

sports

c1

A

First of three parts

ttracting more foreign investments and encouraging more Filipinos to go into business would require putting in place the right policies. With this in mind, members of the 17th Congress vowed to prioritize the review

PESO exchange rates n US 47.1630

Aside from the Omnibus Investments Code, we will review all unresponsive laws.”—Quimbo

of “outdated” trade laws. Liberal Party Rep. Romero S. Quimbo of Marikina City said lawmakers will review the Omnibus Investments Code of 1987 to make it more attuned to the needs of investors. He said upgrading the country’s incentives regime, particularly the perks being offered by the Board of Investments (BOI), should be done “immediately”. Continued on A2

Fewer Cases Fewer Disallowances Author: Alberto C. Agra

n japan 0.4458 n UK 62.4202 n HK 6.0812 n CHINA 7.0640 n singapore 34.8066 n australia 35.3487 n EU 52.0066 n SAUDI arabia 12.5765

bm Graphics: Job Ruzgal

Source: BSP (22 July 2016 )


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