PRESIDENT Rodrigo Duterte has signed into law Republic Act (RA) 11595, which amended certain provisions of the Retail Trade Liberalization Act of 2000 (RTLA). It consolidated House Bill 59 and Senate Bill 1840, which were passed by the House of Representatives and the Senate on September 21 and 20, 2021, respectively.
RA 11595, uploaded to the Official Gazette on Jan. 6, 2021, significantly reduces the equity requirements for foreign retailers to engage in retail business in the Philippines.
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