The Department of Trade and Industry (DTI) urged the House committee on trade and industry to prioritize the passage of key legislative measures being pushed by the agency.
These are the Revised Consumer Act of the Philippines, Expanded Price Act, and One Town, One Product (OTOP) Philippines, as well as the Revised Warehouse Receipts Law still pending at the Committee on Appropriations.
DTI Secretary Ramon Lopez in his meeting with Rep. John Reynald Tiangco, the new committee chair, also cited innovation as one of key thrusts of the government for this year and recommended that the newly filed Creative Industries Act be included among the priority legislative measures.
Lopez relayed the DTI’s gratitude to Congress for passing the Corporate Recovery and Tax Incentives for Enterprises bill whose bicameral version is pending.
“This is a very important piece of legislation that will help the country’s economy recover much faster and stronger, with the reduction in income tax rates and better set of time-bound, performance-based and focused incentives,” Lopez said.
He also disclosed to Tiangco the agency’s support for the country’s business community, particularly the micro, small and medium enterprises and in ensuring economic recovery amid the pandemic.