THE Securities and Exchange Commission (SEC) is stepping up efforts to develop the country’s capital market as part of a push to make the Philippines more competitive in the region.
THE Securities and Exchange Commission is stepping up efforts to develop the country’s capital market as part of a push to make the Philippines more competitive in the region.The country, SEC Chairman Francis Lim said on Friday, lags behind neighboring countries in terms of market depth and activity.Vietnam, for example, was said to have about 700 listed companies and an annual trading value nearing $18 billion, compared to the Philippines’ 284 listed firms and $3 billion in trades.
The SEC is also implementing structural reforms aimed at making the regulatory environment more business-friendly and supportive of capital market expansion.These include strict transaction processing timelines of three, seven or 20 working days depending on the complexity of the application, the rollout of a real-time application tracking system and a 50-percent reduction in fees for certain filings to ease the compliance burden on businesses.
Reforms Pushed To Boost Competitiveness
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