The House of Representatives voted 201 to 6 on third reading on Monday to approve House Bill 300, which amends sections 4 and 8 of Republic Act 7042 or the Foreign Investments Act .
The measure is expected to attract more foreign investors, said House Committee on Trade and Industry chair Wes Gatchalian. JUST IN: House of Representatives approves House Bill 300 or Amendments to the Foreign Investments Act on 3rd and final reading. 201 voted for the bill, 6 voted against and 7 abstained. pic.twitter.com/mkuunzX6KFThe bill is also seen improving technology transfer, raising foreign exchange from exports and leading to higher tax revenues.
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