The Trade Union Congress of the Philippines (TUCP) welcomed the recent decision of the Supreme Court allowing foreign mining firms to operate in the country.
“The ruling augurs well for employment generation,” TUCP said in a statement.
In a resolution issued yesterday, the Supreme Court reversed an earlier decision made in January citing certain provisions of Republic Act 7942 as unconstitutional. The law specifically allows foreign-owned mining companies to develop the country’s mineral reserves.
The TUCP said that new ruling of the high court would induce the entry of billions of dollars worth of investments in the economy and will revive the ailing mining industry.
The TUCP expects that entry of fresh foreign capital will result to the creation of hundreds of thousands of jobs in the mining industry and other downstream industries and will be a boon to mining communities.
#WearMask #WashHands
#Distancing
#TakePicturesVideos
