ECCP seeks fairer rules in construction industry

September 4, 2017 at 10:24

ECCP seeks fairer rules in construction industry

BY 

The European Chamber of Commerce of the Philippines (ECCP) hoping that the government will remove foreign ownership and other restrictions covering the construction industry.

“The Chamber is hoping that Congress and this administration is going toward removing the economic restrictions in the construction industry. We are hoping that they will change the guidelines of the Philippine Contractors Accreditation Board [PCAB],” ECCP President Guenter Taus told reporters on Wednesday.

“We have limitations in the engineering part of what foreign firms can do in the Philippines. There’s a 60-40 rule, and in order to get it done you need to get a PCAB license in order to legally operate and that’s a challenge for multinational companies,” Taus added.

The Philippine Competition Commission (PCC) earlier said that around P210 billion more would be invested in the private sector if the government changed licensing rules for the construction industry.

The PCC renewed a call to address nationality distinctions that provide more flexible rules for domestic contractors while restricting the access of foreign ones.

The commission also said that opening the market to more players would invite additional investments while also boosting the public sector through knowledge transfer and the use of new technologies.

Source: http://www.manilatimes.net/eccp-seeks-fairer-rules-construction-industry/346839/




  All rights to the stock images are owned by Getty Images and its image partners and are protected by United States copyright laws, international treaty provisions and other applicable laws.
Getty Images and its image partners retain all rights and are available for purchase by visiting gettyimages website.

Arangkada Philippines: A Business Perspective — Move Twice As Fast | Joint Foreign Chambers of the Philippines