Press Release / Labor And Employment

On Senate ratification of Corporation Code amendments to attract more investors

 

We welcome the ratification of the bicameral conference committee report on the amendments to the Corporation Code.
 
The immediate passage of this bill into law is a concrete step towards attracting more investors to our country, thereby creating more jobs for Filipinos, by allowing the establishment of one-person corporations, providing for perpetual existence of corporations, and removing the minimum capital requirement under the current law, among others. 
 
The amendments to the Corporation Code will also complement the objectives of the Ease of Doing Business Law or Republic Act No. 11032 which we supported in the Senate. We are positive that this will result in further improving the country's ranking in the Ease of Doing Business Survey by the World Bank. 
 
As a member of the bicameral conference committee, I am certain that this landmark legislation will certainly match the standards of our neighboring countries, make our economy more competitive and foster a business-friendly environment.