Regulations at OFW host international locations
Finance Secretary Carlos Dominguez 3rd said the government is seeking to provide OFW bonds to Filipinos in Saudi Arabia and the US.
“Obviously, it might be provided to [countries] where we've got lots of OFWs, so that might be Saudi Arabia and america,” he said.
The government will need to comfortable the necessary licenses or approvals from such OFW host international locations first, the equal manner it did for the multi-foreign money bond difficulty in 2010.
“There are approvals of licenses wanted. We cannot go to Saudi Arabia and peddle the price range there with out getting the approval of the government, their financial authority,” he said.
Earlier, Budget Secretary Benjamin Diokno said the anticipated proceeds from the proposed OFW bonds will even help fund the authorities’s formidable infrastructure software.
Under its “Build, Build, Build” application, the government intends to spend P8.4 trillion on infrastructure within the years of the Duterte government until 2022.
Finance Secretary Carlos Dominguez 3rd said the government is seeking to provide OFW bonds to Filipinos in Saudi Arabia and the US.
“Obviously, it might be provided to [countries] where we've got lots of OFWs, so that might be Saudi Arabia and america,” he said.
The government will need to comfortable the necessary licenses or approvals from such OFW host international locations first, the equal manner it did for the multi-foreign money bond difficulty in 2010.
“There are approvals of licenses wanted. We cannot go to Saudi Arabia and peddle the price range there with out getting the approval of the government, their financial authority,” he said.
Earlier, Budget Secretary Benjamin Diokno said the anticipated proceeds from the proposed OFW bonds will even help fund the authorities’s formidable infrastructure software.
Under its “Build, Build, Build” application, the government intends to spend P8.4 trillion on infrastructure within the years of the Duterte government until 2022.
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