Key legislators addressed industry stakeholders in a forum on legislative reforms for the Philippine capital market hosted by The Philippine Stock Exchange Inc. (PSE), in partnership with UBS Philippines.
In attendance were House of Representatives Speaker Ferdinand Martin G. Romualdez, House Senior Deputy Majority Leader and Ilocos Norte 1st District Representative Ferdinand Alexander A. Marcos and House Committee on Ways and Means Chairperson and Albay 2nd District Representative Joey S. Salceda.
In his message during the program, PSE President and CEO Ramon S. Monzon expressed his gratitude to Speaker Romualdez, Congressman Marcos and Congressman Salceda for including capital market reforms in their legislative agenda. Among the reforms being introduced is the reduction of the stock transaction tax under the Capital Markets Efficiency Promotion Act. “We need to address the issues ailing our market: high friction cost, low liquidity, lack of products and low retail participation. The key leaders of the House of Representatives here today have addressed the first issue of friction cost by introducing and passing a bill that will reduce the stock transaction tax from 0.6 percent to 0.1 percent. The PSE, on the other hand, continues to undertake initiatives to attract more listings, launch new products/facilities, and attract more retail investors.”
During the briefing segment of the event, Rep. Salceda centered his discussion on the topic “A More Robust Capital Market: Rebuilding Economic Momentum to 7-8% in 2024 Onwards“ while Mr. Monzon tackled PSE’s Capital Market Initiatives. The presentation of Speaker Romualdez focused on the theme “Legislative Reforms: Building a Robust Philippine Economy”.
A dialogue with industry stakeholders followed the briefing and program proper.
Photo 1 (from left): PSE Director Anthony M. Te, House of Representatives Speaker Ferdinand Martin G. Romualdez, House Senior Deputy Majority Leader and Ilocos Norte 1st District Representative Ferdinand Alexander A. Marcos, House Committee on Ways and Means Chairperson and Albay 2nd District Representative Joey S. Salceda, PSE Chairman Jose T. Pardo, PSE President and CEO Ramon S. Monzon, PSE Director Ma. Vivian Yuchengco and UBS Country Head Robrina L. Go.
Photo 2: Representatives of asset management companies with House of Representatives Speaker Ferdinand Martin G. Romualdez, House Senior Deputy Majority Leader and Ilocos Norte 1st District Representative Ferdinand Alexander A. Marcos, House Committee on Ways and Means Chairperson and Albay 2nd District Representative Joey S. Salceda, PSE Chairman Jose T. Pardo and PSE President and CEO Ramon S. Monzon.
