{"id":19653,"date":"2014-07-20T22:46:27","date_gmt":"2014-07-20T14:46:27","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=19653"},"modified":"2014-07-20T22:46:27","modified_gmt":"2014-07-20T14:46:27","slug":"allowing-full-entry-of-foreign-banks-seen-to-boost-phl-economy","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/07\/20\/allowing-full-entry-of-foreign-banks-seen-to-boost-phl-economy\/","title":{"rendered":"Allowing full entry of foreign banks seen to boost PHL economy"},"content":{"rendered":"<figure id=\"attachment_11745\" aria-describedby=\"caption-attachment-11745\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/global-economy.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11745\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/global-economy.jpg\" alt=\"ShutterStock image\" width=\"1000\" height=\"667\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/global-economy.jpg 1000w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/global-economy-300x200.jpg 300w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption id=\"caption-attachment-11745\" class=\"wp-caption-text\">ShutterStock image<\/figcaption><\/figure>\n<p>MANILA \u2014 The Philippines expects the full entry of foreign banks can accelerate the growth of the economy especially amidst next year\u2019s ASEAN economic integration, a Palace official said.<\/p>\n<p>Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Jr. stressed this after President Benigno S. Aquino III signed into law Republic Act 10641 or an Act Allowing the Full Entry of Foreign Banks in the Philippines.<\/p>\n<p>Coloma said the new law is a product of a thorough study and is in line with principles of other countries.<\/p>\n<p>\u201cIsipin po natin \u2018yung reyalidad na kumikilos na tayo patungo doon sa ASEAN integration at kasama po diyan \u2018yung aspeto ng financial integration,\u201d he said.<\/p>\n<p>Coloma said many investors intend to pour in their money or invest more in the country.<\/p>\n<p>\u201cSila po \u2018yung nananawagan na kung pwedeng pahintulutan na magbukas din dito mismo \u2018yung mga bangkong ginagamit nila sa kanilang negosyo. Kaya ito po ay isang aspeto nitong pagpapahintulot sa buong pagpasok. Ibig sabihin po ay wala nang restriksyon \u2018yung pagpasok ng foreign banks at inaamyendahan po nito \u2018yung datihang batas,\u201d he noted.<\/p>\n<p>The PCOO chief said leaders of the government and the financial sector believe that allowing the full entry of foreign banks can speed up the growth of the Philippine economy.<\/p>\n<p>\u201cDahil ang mga bangko may mahalagang papel po sila diyan, \u2018yung tinatawag na financial intermediation. Sa kanila dumadaloy \u2018yung pananalapi para pondohan ang mga proyekto sa pangangalakal na makakatulong sa paglago ng ating ekonomiya,\u201d he stressed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA \u2014 The Philippines expects the full entry of foreign banks can accelerate the growth of the economy especially amidst &hellip;<\/p>\n","protected":false},"author":44,"featured_media":11745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482,19,95],"tags":[],"class_list":["post-19653","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","category-business","category-news-ph","mauthors-leslie-d-venzon","mauthors-philippines-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/19653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=19653"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/19653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/11745"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=19653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=19653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=19653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}