BUSINESS
Advocates Philippines
Speaker Romualdez: PSE To Play Bigger Role In Creating Business And Opportunities
Congress PH File
Speaker Ferdinand Martin G. Romualdez envisions the Philippine Stock Exchange (PSE) taking on a more significant role in the country's development by utilizing earnings from stocks to fuel various projects, generate employment opportunities, and implement vital social programs.
He shared this prediction during his keynote speech at the inauguration of the PSE Event Hall and Ayala Corporation's follow-on offering listing ceremony in Taguig City.
In his address, Speaker Romualdez commended the PSE for achieving another milestone and emphasized the House's belief in the capital market's indispensable role in the nation's economic recovery and progress. He reiterated the importance of capital markets in supporting the national development agenda, which served as the driving force behind the proposed establishment of the Maharlika Investment Fund.
The Speaker stated that the Maharlika Investment Fund's management corporation would look to the PSE for blue-chip investment opportunities, generating substantial dividends that would be directed toward funding the government's strategic social programs aligned with the country's development goals.
The Maharlika Investment Fund bill was overwhelmingly approved by the House in December of the previous year, and President Ferdinand R. Marcos, Jr. has certified the measure as urgent, expecting the Senate to pass its own version before the sine die adjournment of Congress this week.
Highlighting the need for a sustainable national investment fund as a growth catalyst, President Marcos certified the Maharlika Investment Fund as urgent, emphasizing its role in expediting the implementation of high-impact infrastructure projects that stimulate economic activity and development.
Speaker Romualdez also mentioned that the House's belief in the capital market prompted the filing of the very first bill under the 19th Congress. The bill, known as the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE), aims to provide assistance to enterprises recovering from the pandemic's effects. It is one of the 31 bills the House has approved so far from the 42 priority measures identified under the Legislative Executive Advisory Council (LEDAC).
The Speaker further explained that efforts to amend the restrictive provisions of the 1987 Constitution are part of the House's initiatives to increase private sector contributions to national development.
Speaking on the inauguration of the PSE Events Hall, Speaker Romualdez commended the agility and resilience of the Exchange, noting its ability to adapt quickly to the changing circumstances. He acknowledged the PSE's transition to online trading during the COVID-19 pandemic and expressed confidence in the PSE Events Hall becoming a venue for groundbreaking business offerings.
Speaker Romualdez expressed hope that the PSE and the entire business sector would collaborate with the House of Representatives in pushing for strategic legislative initiatives. He emphasized the importance of advancing the marginalized sectors of Philippine society, not only for greater returns but also to secure a brighter future for all Filipinos.
PSE President and CEO Ramon Monzon expressed gratitude to Speaker Romualdez for his support in promoting the country's capital market. Monzon highlighted the need for new products and active regulations to enhance liquidity. He mentioned that Speaker Romualdez, being knowledgeable about the market, has offered to sponsor necessary legislation to facilitate the growth trajectory of the PSE. Collaboration between the PSE and the Office of the Speaker is currently underway to achieve this objective.
He shared this prediction during his keynote speech at the inauguration of the PSE Event Hall and Ayala Corporation's follow-on offering listing ceremony in Taguig City.
In his address, Speaker Romualdez commended the PSE for achieving another milestone and emphasized the House's belief in the capital market's indispensable role in the nation's economic recovery and progress. He reiterated the importance of capital markets in supporting the national development agenda, which served as the driving force behind the proposed establishment of the Maharlika Investment Fund.
The Speaker stated that the Maharlika Investment Fund's management corporation would look to the PSE for blue-chip investment opportunities, generating substantial dividends that would be directed toward funding the government's strategic social programs aligned with the country's development goals.
The Maharlika Investment Fund bill was overwhelmingly approved by the House in December of the previous year, and President Ferdinand R. Marcos, Jr. has certified the measure as urgent, expecting the Senate to pass its own version before the sine die adjournment of Congress this week.
Highlighting the need for a sustainable national investment fund as a growth catalyst, President Marcos certified the Maharlika Investment Fund as urgent, emphasizing its role in expediting the implementation of high-impact infrastructure projects that stimulate economic activity and development.
Speaker Romualdez also mentioned that the House's belief in the capital market prompted the filing of the very first bill under the 19th Congress. The bill, known as the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE), aims to provide assistance to enterprises recovering from the pandemic's effects. It is one of the 31 bills the House has approved so far from the 42 priority measures identified under the Legislative Executive Advisory Council (LEDAC).
The Speaker further explained that efforts to amend the restrictive provisions of the 1987 Constitution are part of the House's initiatives to increase private sector contributions to national development.
Speaking on the inauguration of the PSE Events Hall, Speaker Romualdez commended the agility and resilience of the Exchange, noting its ability to adapt quickly to the changing circumstances. He acknowledged the PSE's transition to online trading during the COVID-19 pandemic and expressed confidence in the PSE Events Hall becoming a venue for groundbreaking business offerings.
Speaker Romualdez expressed hope that the PSE and the entire business sector would collaborate with the House of Representatives in pushing for strategic legislative initiatives. He emphasized the importance of advancing the marginalized sectors of Philippine society, not only for greater returns but also to secure a brighter future for all Filipinos.
PSE President and CEO Ramon Monzon expressed gratitude to Speaker Romualdez for his support in promoting the country's capital market. Monzon highlighted the need for new products and active regulations to enhance liquidity. He mentioned that Speaker Romualdez, being knowledgeable about the market, has offered to sponsor necessary legislation to facilitate the growth trajectory of the PSE. Collaboration between the PSE and the Office of the Speaker is currently underway to achieve this objective.
May 29, 2023
