Philippines Will Pass The "Save Our Industrial Law" Act In September.

For the country

Philippines's government has set a deadline for September to pass the "industrial law" to save us $3 billion.

Once passed, the rescue law will use the United States for Philippines.

Or the clothing produced by the fabric opens the tax exemption preferential access in the US market.

Cristino L. Panlilio, Vice Minister of trade and industry, who is responsible for trade and investment promotion, said that the bill was shelved in the US Congress since 2010 despite repeated changes, even with the support of legislators and senators.

The United States wants this bill to be more easily accepted by the United States.

The government of Philippines has made several major amendments to the bill.

The export tax exemption for garments exported to Philippines was initially estimated at US $330 million per year, and the first revision fell to US $230 million per year. Then, according to the requirements of the US Senate, it was revised to $200 million per year.

However, Mr. Panlilio believes that the prospect of passing this bill is bright because members of Congress and senators strongly support the passage of the bill.

The upcoming elections in the United States are scheduled for November. Legislators will be busy campaigning after September. Therefore, Philippines will set the deadline for September to pass the rescue law.