Bill Type
Short Title
AMENDING THE RETAIL TRADE LIBERALIZATION ACT
Text as Filed (File)
Text as filed (link)
Third Reading Copy link (HRep)
Scope
Legislative Status
Legislative Status Date
Session Sequence No.
63
Session Type
Document Certification
All Information (Senate Website)
Legislative History (Senate Website)
Committee Referral (Senate Website)
Floor Activity (Senate Website)
Committee Details
House Committee Report link
Floor Activity
Floor Activity
Date Parliamentary status Senator(s) 9/20/2021 Sponsorship Speech on the Conference Committee Report Pimentel, Aquilino "Koko" III
Legislative History
| House Bill/Resolution NO. HB00059 | |
| REPUBLIC ACT NO. RA11595 | |
| FULL TITLE : AN ACT SETTING THE MINIMUM PAID-UP CAPITAL AND LOCALLY PRODUCED STOCK INVENTORY REQUIREMENTS FOR FOREIGN RETAIL BUSINESS ENTERPRISES, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 8762, OTHERWISE KNOWN AS THE "RETAIL TRADE LIBERALIZATION ACT OF 2000" | |
| SHORT TITLE : Setting The Minimum Paid-up Capital And Locally Produced Stock Inventory Requirements For Foreign Retail Business Enterprises, Amending For The Purpose Republic Act No. 8762 | |
| ABSTRACT : Aims to relax barriers to entry of foreign investment in retail trade by lowering the required minimum paid-up capital for foreign retail investors to US$200,000.Intends to reduce the required locally manufactured products carried by foreign retailers from 30 percent to 10 percent of the aggregate cost of their stock inventory which would open up the Philippine retail industry that would result in greater variety of products, more competitive local players, inflow of new technology, and more importantly, more jobs for Filipinos. | |
| PRINCIPAL AUTHOR/S : YAP, VICTOR A., SUANSING, ESTRELLITA B., ROMUALDO, XAVIER JESUS D., VILLAFUERTE, LUIS RAYMUND "LRAY" JR F., SALCEDA, JOEY SARTE, SILVERIO, LORNA C., ROMERO, MICHAEL ODYLON L., GARIN, SHARON S., SUANSING, HORACIO JR. P., CABREDO, FERNANDO T., ONG, RONNIE L., ALBANO, ANTONIO "TONYPET" T., CALDERON, PETER JOHN D., BUSTOS, JORGE ANTONIO P., NIETO, JOHN MARVIN "YUL SERVO" C., BOLILIA, LIANDA B., ROMUALDEZ, FERDINAND MARTIN G., CASTRO, FREDENIL "FRED" H., DELOS SANTOS, ALFRED C., GATCHALIAN, WESLIE T., BIRON, BRAEDEN JOHN Q., SINGSON-MEEHAN, KRISTINE, CUEVA, LEO RAFAEL M., BORDADO, GABRIEL JR. H., REYES, ALLAN BENEDICT S., TIANGCO, JOHN REYNALD M., GO, MARK O., CALIXTO, ANTONINO G., REVILLA, STRIKE B., VILLAR, CAMILLE A., ALVAREZ, FRANZ "CHICOY" E., VERGARA, ROSANNA "RIA", OUANO-DIZON, EMMARIE "LOLYPOP", SUNTAY, JESUS "BONG" C., COLLANTES, MA. THERESA V., DUAVIT, JOHN MICHAEL R., AUMENTADO, ERICO ARISTOTLE C., CAMPOS, LUIS JR. N., SAGARBARRIA, MANUEL T., BARONDA, JULIENNE "JAM" L., CUA, JUNIE E., KHO, ELISA "OLGA" T., OLIVAREZ, ERIC L., MARTINEZ, ERIC M., GARCIA, JOSE ENRIQUE "JOET" III S., MATUGAS, FRANCISCO JOSE "BINGO" II F., CPA, CESO, LLB, PACQUIAO, ROGELIO D., PANOTES, MARISOL C., BABASA, LEONARDO JR. L., ESPINO,JUMEL ANTHONY I., ALBANO, RODOLFO B., GARBIN, ALFREDO JR. A., UNABIA, CHRISTIAN S., VILLA, JAKE VINCENT, CO, ELIZALDY S., QUIMBO, STELLA LUZ A., ROBES, FLORIDA "RIDA" P., DEFENSOR,, MICHAEL T., BILLONES, EMMANUEL "TAWI", LACSON, VIRGILIO S., CARI, CARL NICOLAS C., EBCAS, ADRIANO A., PICHAY, PROSPERO JR. A. | |
| DATE FILED : 2019-07-01 | |
| SIGNIFICANCE: NATIONAL | |
| AUTHORS(Final/Third Reading) : | |
| 1. Yap (V.) | 2. Suansing (E.) |
| 3. Romualdo | 4. Villafuerte |
| 5. Salceda | 6. Silverio |
| 7. Romero | 8. Garin (S.) |
| 9. Suansing (H.) | 10. Cabredo |
| 11. Ong (R.) | 12. Albano (A.) |
| 13. Calderon | 14. Bustos |
| 15. Nieto | 16. Bolilia |
| 17. Romualdez (F.M.) | 18. Castro (F.H.) |
| 19. Delos Santos | 20. Gatchalian |
| 21. Biron | 22. Singson-Meehan |
| 23. Cueva | 24. Bordado |
| 25. Reyes | 26. Tiangco |
| 27. Go (M.) | 28. Calixto |
| 29. Revilla | 30. Villar |
| 31. Alvarez (F.) | 32. Vergara |
| 33. Ouano-Dizon | 34. Suntay |
| 35. Collantes | 36. Duavit |
| 37. Aumentado | 38. Campos |
| 39. Sagarbarria | 40. Baronda |
| 41. Cua | 42. Kho (E.) |
| 43. Olivarez | 44. Martinez |
| 45. Garcia (J.E.) | 46. Matugas |
| 47. Pacquiao (R.) | 48. Panotes |
| 49. Babasa | 50. Espino |
| 51. Albano (R.) | 52. Garbin |
| 53. Unabia | 54. Villa |
| 55. Co (E.) | 56. Quimbo |
| 57. Robes | 58. Defensor (M.) |
| 59. Billones | 60. Lacson |
| 61. Cari | 62. Ebcas |
| 63. Pichay | |
| AUTHORSHIP WITHDRAWALS: | |
| Bordado(2020-03-11) | |
| () | |
| COUNTERPART HOUSE BILL/CONCURRENT RESOLUTION: SB01840 | |
| URGENT SENATE BILL? Yes | |
| DATE CERTIFIED AS URGENT HOUSE BILL: 2021-04-12 | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE REPORT NO. 00073 | |
| SUBMITTED ON 2019-11-06 | |
| SUBMITTED BY: TRADE AND INDUSTRY | |
| RECOMMENDATIONS: Approval in consolidation with House Bills Numbered 192, 344, 402, 1222, 3502, 4484 and 4554 | |
| CONSOLIDATED BILLS: HB00192, HB00344, HB00402, HB01222, HB03502, HB04484, HB04554 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON TRADE AND INDUSTRY ON 2019-07-23 | |
| DATE INCLUDED IN OB: 2019-11-06 | |
| DATE CALENDARED : 2019-11-11 | |
| REMARKS: Request to coauthor of Rep. Nieto filed on 2019-09-26 | |
| SECOND READING INFORMATION | |
| PERIOD OF SPONSORSHIP : 2019-11-19, 2019-11-26, 2020-03-03, 2020-03-04 | |
| SPONSORED BY : Gatchalian;Yap (V.);Yap (V.);Yap (V.);Gatchalian | |
| PERIOD OF INTERPELLATIONS : 2019-11-26, 2020-03-03, 2020-03-04 | |
| INTERPELLATED BY : Quimbo, Castro (F.L.), Zarate, Gaite, Garin (S.), Brosas, Abante | |
| DATE SPONSORSHIP/DEBATE CLOSED: 2020-03-04 | |
| FINAL LIST OF AUTHORS : Yap (V.), Suansing (E.), Romualdo, Villafuerte, Salceda, Silverio, Romero, Garin (S.), Suansing (H.), Cabredo, Ong (R.), Albano (A.), Calderon, Bustos, Nieto, Bolilia, Romualdez (F.M.), Castro (F.H.), Delos Santos, Gatchalian, Biron, Singson-Meehan, Cueva, Bordado, Reyes, Tiangco, Go (M.), Calixto, Revilla, Villar, Alvarez (F.), Vergara, Ouano-Dizon, Suntay, Collantes, Duavit, Aumentado, Campos, Sagarbarria, Baronda, Cua, Kho (E.), Olivarez, Martinez, Garcia (J.E.), Matugas, Pacquiao (R.), Panotes, Babasa, Espino, Albano (R.), Garbin, Unabia, Villa, Co (E.), Quimbo, Robes, Defensor (M.), Billones, Lacson, Cari, Ebcas, Pichay | |
| DATE APPROVED ON SECOND READING : 2020-03-04 | |
| THIRD READING INFORMATION | |
| DATE COPY DISTRIBUTED TO MEMBERS: 2020-03-05 | |
| DATE APPROVED BY THE HOUSE ON THIRD READING :2020-03-11 | |
| THIRD READING TITLE :AN ACT SETTING THE MINIMUM PAID-UP CAPITAL AND LOCALLY PRODUCED STOCK INVENTORY REQUIREMENTS FOR FOREIGN RETAIL BUSINESS ENTERPRISES, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 8762, OTHERWISE KNOWN AS THE "RETAIL TRADE LIBERALIZATION ACT OF 2000" | |
| HOUSE VOTES: YEAS:156 NAYS:30 ABSTAIN:.3 | |
| Voting Details Per Member(Legend:Y-Yes N-No A-Abstain X-Did Not Vote B-Absent D-N/A) | |
| N---Abante | Y---Abaya |
| Y---Abellanosa | X---Abu |
| Y---Abueg-Zaldivar | Y---Abunda |
| Y---Acop | Y---Acosta |
| Y---Acosta-Alba | Y---Adiong |
| Y---Advincula | N---Agabas |
| Y---Agarao | X---Aglipay |
| Y---Albano (A.) | D---Albano (R.)--(N/A) |
| B---Vargas Alfonso--(Absent) | Y---Almario |
| X---Alonte | Y---Alvarez (F.) |
| Y---Alvarez (G.) | B---Alvarez (P.)--(Absent) |
| Y---Amante-Matba | Y---Amatong |
| Y---Andaya | Y---Angara |
| X---Aragones | X---Arbison |
| Y---Arenas | Y---Macapagal Arroyo |
| X---Arroyo | N---Atienza |
| Y---Aumentado | Y---Babasa |
| Y---Bagatsing | Y---Bainto-Aguinaldo |
| Y---Balindong | N---Bañas-Nograles |
| N---Barba | X---Barbers |
| X---Baronda | Y---Barzaga |
| Y---Bascug | Y---Bautista |
| B---Bautista-Bandigan--(Absent) | N---Belmonte |
| Y---Benitez | X---Bernos |
| Y---Biazon | Y---Billones |
| X---Biron | Y---Bolilia |
| Y---Bondoc | N---Bordado |
| Y---Bravo | N---Brosas |
| Y---Bulut | X---Bustos |
| N---Cabatbat | N---Cabochan |
| Y---Cabredo | Y---Cagas |
| Y---Calderon | Y---Calixto |
| Y---Caminero | Y---Campos |
| X---Canama | X---Caoagdan |
| D---Cardema--(N/A) | X---Cari |
| Y---Castelo | N---Castro (F.L.) |
| X---Castro (F.H.) | X---Cayetano (A.P.) |
| X---Cayetano (M.L.) | Y---Celeste |
| X---Chatto | Y---Chipeco |
| N---Chungalao | A---Co (A.N.) |
| Y---Co (E.) | X---Cojuangco |
| Y---Collantes | Y---Crisologo |
| Y---Cua | N---Cuaresma |
| Y---Cueva | X---Cullamat |
| X---Dagooc | Y---Dalipe |
| N---Dalog | X---Datol |
| X---Ruiz Daza | X---De Jesus |
| X---De Venecia | Y---Defensor (L.) |
| X---Defensor (M.) | N---Del Mar |
| Y---Delos Santos | Y---Deloso-Montalla |
| X---Dimaporo (A.) | X---Dimaporo (M.K.) |
| X---Duavit | X---Dujali |
| X---Duterte | X---Dy (F.M.C.) |
| Y---Dy (F.) | X---Dy (I.P.) |
| Y---Ebcas | B---Ecleo--(Absent) |
| N---Elago | Y---Enverga |
| X---Erice | Y---Eriguel |
| Y---Ermita-Buhain | Y---Escudero |
| Y---Espina | B---Espino--(Absent) |
| Y---Estrella | Y---Fariñas (R.C.) |
| Y---Fariñas I (R.C.) | X---Fernandez |
| N---Fernando | Y---Ferrer (J.M.) |
| Y---Ferrer (L.) | X---Flores |
| D---Fongwan--(N/A) | Y---Fortun |
| X---Fortuno | B---Frasco--(Absent) |
| X---Fuentebella | N---Gaite |
| X---Garbin | X---Garcia (J.E.) |
| Y---Garcia (P.J.) | Y---Garcia (V.) |
| Y---Garin (J.) | Y---Garin (S.) |
| X---Gasataya | Y---Gatchalian |
| X---Gato | Y---Geron |
| B---Go (E.C.)--(Absent) | Y---Go (M.) |
| Y---Torres-Gomez | X---Gonzaga |
| Y---Gonzales (A.) | Y---Gonzales (N.) |
| Y---Gonzalez | B---Gorriceta--(Absent) |
| X---Guico | Y---Gullas |
| X---Guya | Y---Haresco |
| B---Hataman--(Absent) | Y---Hernandez |
| Y---Herrera-Dy | Y---Hofer |
| Y---Jalosjos | Y---Javier |
| X---Jimenez | X---Kho (E.) |
| X---Kho (W.) | B---Khonghun--(Absent) |
| X---Labadlabad | B---Lacson--(Absent) |
| Y---Lacson-Noel | N---Lagman |
| Y---Lagon | Y---Lara |
| Y---Lazatin | B---Leachon--(Absent) |
| X---Legarda | Y---Lim |
| X---Limkaichong | N---Lopez (M.L.) |
| B---Loyola--(Absent) | Y---Lusotan |
| X---Maceda | X---Madrona |
| X---Malapitan | X---Mangaoang |
| X---Mangudadatu | Y---Marcoleta |
| Y---Mariano-Hernandez | Y---Mariño |
| X---Marquez | X---Martinez |
| Y---Matba | X---Matugas |
| X---Mendoza | X---Mercado |
| X---Momo | Y---Natividad-Nagaño |
| Y---Nava | Y---Nieto |
| Y---Noel | Y---Nograles (J.J.) |
| B---Nograles (J.F.F.)--(Absent) | X---Nolasco |
| X---Nuñez-Malanyaon | Y---Oaminal |
| Y---Olivarez | Y---Ong (J.) |
| X---Ong (R.) | D---Ordanes--(N/A) |
| N---Ortega | Y---Ouano-Dizon |
| X---Pacquiao (A.) | X---Pacquiao (R.) |
| Y---Padiernos | X---Paduano |
| Y---Palma | N---Pancho |
| Y---Panotes | X---Peña |
| N---Pichay | N---Pimentel |
| X---Pineda | Y---Plaza |
| Y---Puno | Y---Quimbo |
| Y---Radaza | Y---Ramirez-Sato |
| Y---Ramos | A---Remulla |
| X---Revilla | Y---Reyes |
| N---Rivera | Y---Robes |
| Y---Rodriguez | Y---Roman |
| Y---Romero | X---Romualdez (F.M.) |
| Y---Romualdez (Y.M.) | Y---Romualdo |
| X---Romulo | Y---Roque |
| Y---Sacdalan | X---Sagarbarria |
| Y---Sakaluran | B---Salceda--(Absent) |
| Y---Salimbangon | Y---Salo |
| Y---Salvador-Tambunting | X---Sanchez |
| X---Sangcopan | B---Santos-Recto--(Absent) |
| Y---Sarmiento | X---Saulog |
| Y---Savellano | Y---Siao |
| Y---Silverio | X---Singson |
| Y---Singson-Meehan | X---Sinsuat |
| Y---Suansing (E.) | X---Suansing (H.) |
| B---Suarez (A.)--(Absent) | N---Suarez (D.) |
| N---Suntay | X---Sy-Alvarado |
| Y---Taduran | Y---Tallado |
| Y---Tan (A.S.) | Y---Tan (A.) |
| B---Tan (S.)--(Absent) | N---Tan (S.A.) |
| B---Tan-Tambut--(Absent) | Y---Tejada |
| X---Teves (A.) | Y---Teves (J.) |
| Y---Tiangco | Y---Tolentino |
| X---Tulfo | B---Tupas--(Absent) |
| Y---Tutor | Y---Ty (A.) |
| Y---Ty (D.) | Y---Umali (A.) |
| Y---Umali (M.V.) | Y---Unabia |
| B---Ungab--(Absent) | Y---Uy (J.) |
| Y---Uy (R.) | Y---Valeriano |
| X---Valmayor | Y---Vargas |
| B---Velasco--(Absent) | X---Veloso |
| Y---Vergara | Y---Villa |
| X---Villafuerte | B---Villanueva (E.)--(Absent) |
| Y---Villanueva (N.) | Y---Villar |
| N---Villaraza-Suarez | B---Villarica--(Absent) |
| Y---Violago | X---Yap (E.) |
| X---Yap (V.) | Y---Yu |
| Y---Zamora (R.) | B---Zamora (W.K.)--(Absent) |
| N---Zarate | A---Zubiri |
| DATE TRANSMITTED TO THE SENATE: 2020-03-16 | |
| ACTIONS TAKEN BY THE SENATE/HOUSE | |
| DATE RECEIVED BY THE SENATE: 2020-03-16 | |
| CONFERENCE COMMITTEE INFORMATION | |
| DATE REQUESTED TO FORM A CONFERENCE COMMITTEE : 2021-05-24 | |
| CONFERENCE COMMITTEEE REQUESTED BY : SENATE | |
| DATE CC REQUEST RECEIVED BY THE HOUSE : 2021-05-27 | |
| DATE CC REQUEST RECEIVED BY THE SENATE : 2021-05-26 | |
| DATE AGREED TO FORM A CONFERENCE COMMITTEE : 2021-05-25 | |
| REMARKS : | |
| CONCOM MEMBERS(HOUSE) : Tiangco, Gatchalian, Yap (V.), Garin (S.), Romualdo, Vergara, Quimbo | |
| CONCOM MEMBERS(SENATE) : Pimentel, Binay, Pacquiao, Drilon, Zubiri | |
| DATE HOUSE RATIFIED CONCOM REPORT : 2021-09-21 | |
| DATE CC MESSAGE RECEIVED BY THE SENATE : 2021-09-22 | |
| DATE SENATE APPROVED CONCOM REPORT : 2021-09-20 | |
| DATE CC MESSAGE RECEIVED BY THE HOUSE : 2021-09-21 | |
| DATE COPIES OF ENROLLED BILL RECEIVED BY THE SENATE : 2021-10-26 | |
| DATE SIGNED COPIES OF ENROLLED BILL RECEIVED BY THE HOUSE : 2021-11-09 | |
| ACTIONS TAKEN BY THE PRESIDENT | |
| DATE TRANSMITTED TO THE PRESIDENT : 2021-11-10 | |
| DATE ACTED UPON BY THE PRESIDENT : 2021-12-10 | |
| PRESIDENTIAL ACTION:(A)PPROVED/(V)ETOED/(L)APSED : A | |
| REPUBLIC ACT NO.: RA11595 | |
| ORIGIN : HOUSE | |
| REPUBLIC ACT TITLE: AN ACT AMENDING REPUBLIC ACT NO. 8762, OTHERWISE KNOWN AS THE "RETAIL TRADE LIBERALIZATION ACT OF 2000", BY LOWERING THE REQUIRED PAID-UP CAPITAL FOR FOREIGN RETAIL ENTERPRISES, AND FOR OTHER PURPOSES |
Senate Legislative History
Entitled: AN ACT SETTING THE MINIMUM PAID-UP CAPITAL AND LOCALLY PRODUCED STOCK INVENTORY REQUIREMENTS FOR FOREIGN RETAIL BUSINESS ENTERPRISES, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 8762, OTHERWISE KNOWN AS THE RETAIL TRADE LIBERALIZATION ACT OF 2000 [ FIRST REGULAR SESSION, 18TH CONGRESS ] [ 2020 ] Introduced by Representatives VICTOR A. YAP, ESTRELLITA B. SUANSING, XAVIER JESUS D. ROMUALDO, LUIS RAYMUND JR. F. VILLAFUERTE, et. al.; Approved on Third Reading by the House of Representatives on March 11, 2020; 3/16/2020 Sent to the Senate requesting for concurrence; 5/6/2020 Read on First Reading and Referred to the Committee on TRADE, COMMERCE AND ENTREPRENEURSHIP; [ SECOND REGULAR SESSION ] 9/22/2020 Returned and submitted by the Committee on TRADE, COMMERCE AND ENTREPRENEURSHIP per Committee Report No. 115, recommending that it be considered in SBN-1840; 9/22/2020 Committee Report Calendared for Ordinary Business; 9/22/2020 CONSIDERED IN SBN-1840, UNDER COMMITTEE REPORT NO. 115. [ 2021 ] 5/24/2021 Senate designated Senators AQUILINO "KOKO" III PIMENTEL, MARIA LOURDES NANCY S. BINAY, EMMANUEL "MANNY" D. PACQUIAO and FRANKLIN M. DRILON as conferees to the Bicameral Conference Committee on the disagreeing provisions of SBN-1840 and HBN-59; 5/25/2021 Senate designated Senator JUAN MIGUEL "MIGZ" F. ZUBIRI as additional conferee to the Bicameral Conference Committee on the disagreeing provisions of SBN-1840 and HBN-59; 5/26/2021 House of Representatives designated Representatives Tiangco, Gatchalian, Yap, Garin, Romualdo, Vergara and Quimbo as conferees to the Bicameral Conference Committee on the disagreeing provisions of SBN-1840 and HBN-59 on May 25, 2021; 9/20/2021 Conference Committee Report on the disagreeing provisions of SBN-1840 and HBN-59, submitted to the Senate, recommending that HBN-59, in consolidation with SBN-1840, be approved in accordance with the attached copy of the bill as reconciled and approved by the conferees; 9/20/2021 Sponsorship speech on the conference committee report of Senator AQUILINO "KOKO" III PIMENTEL; 9/20/2021 Conference Committee Report Approved by the Senate; 9/27/2021 Conference Committee Report Approved by the House of Representatives on September 21, 2021; 10/26/2021 Letter from Secretary General Mark Llandro L. Mendoza, transmitting nine (9) enrolled copies of the consolidated version of HBN-59 and SBN-1840, for the signature of Senate Secretary Myra Marie D. Villarica and Senate President Vicente C. Sotto III; 11/9/2021 Letter for Speaker Lord Allan Jay Q. Velasco, returning eight (8) enrolled copies of the consolidated version of SBN-1840 and HBN-59, which were signed by Senate Secretary Myra Marie D. Villarica and Senate President Vicente C. Sotto III; [ 2022 ] 1/17/2022 Approved and signed into law, in consolidation with SBN-1840, by the President of the Philippines, His Excellency, President Rodrigo Roa Duterte on December 10, 2021, and became 1/17/2022 REPUBLIC ACT NO. 11595.
Abstract
Aims to relax barriers to entry of foreign investment in retail trade by lowering the required minimum paid-up capital for foreign retail investors to US$200,000.Intends to reduce the required locally manufactured products carried by foreign retailers from 30 percent to 10 percent of the aggregate cost of their stock inventory which would open up the Philippine retail industry that would result in greater variety of products, more competitive local players, inflow of new technology, and more importantly, more jobs for Filipinos.
Law PDF
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.