Retail liberalization urged by biz chamber

The government should should reduce or scrap the paid-up capital requirement for retailers to entice more businesses to invest in the country, the president of the European Chamber of Commerce of the Philippines yesterday said.

“ I don’t think it should be the government to dictate … that if you have to put up a business you have to put this and that. I think they should let market forces develop as they go along,” ECCP President Guenter Taus said during a briefing on the upcoming EU-Philippines Business Summit.