Regulations at OFW host nations
Finance Secretary Carlos Dominguez 3rd stated the authorities is seeking to offer OFW bonds to Filipinos in Saudi Arabia and the USA.
“Obviously, it would be offered to [countries] in which we have lots of OFWs, so that might be Saudi Arabia and the US,” he stated.
The government will should relaxed the vital licenses or approvals from such OFW host nations first, the identical way it did for the multi-currency bond trouble in 2010.
“There are approvals of licenses needed. We can't go to Saudi Arabia and peddle the budget there without getting the approval of the government, their monetary authority,” he stated.
Earlier, Budget Secretary Benjamin Diokno stated the expected proceeds from the proposed OFW bonds will also assist fund the government’s bold infrastructure software.
Under its “Build, Build, Build” application, the authorities intends to spend P8.4 trillion on infrastructure inside the years of the Duterte government till 2022.
Finance Secretary Carlos Dominguez 3rd stated the authorities is seeking to offer OFW bonds to Filipinos in Saudi Arabia and the USA.
“Obviously, it would be offered to [countries] in which we have lots of OFWs, so that might be Saudi Arabia and the US,” he stated.
The government will should relaxed the vital licenses or approvals from such OFW host nations first, the identical way it did for the multi-currency bond trouble in 2010.
“There are approvals of licenses needed. We can't go to Saudi Arabia and peddle the budget there without getting the approval of the government, their monetary authority,” he stated.
Earlier, Budget Secretary Benjamin Diokno stated the expected proceeds from the proposed OFW bonds will also assist fund the government’s bold infrastructure software.
Under its “Build, Build, Build” application, the authorities intends to spend P8.4 trillion on infrastructure inside the years of the Duterte government till 2022.
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