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Secretary, Department of Finance
Secretary Teves has extensive experience as a legislator, having
been elected as representative of the third district of Negros
Oriental to the Philippine Congress for three terms, from July
1987 to June 1998. During this period, he held important positions
in the House of Representatives, such as the Chairmanship of the
Committee on Rural Development and the Committee on Economic Affairs;
Senior Vice Chairman of the Committee on Agriculture on &
Food; membership in Standing Committees including Appropriations,
Ways & Means, Economic Affairs, Banks & Financial Intermediaries,
Government Enterprises; membership in Special Committees including
Food Security, Savings Mobilization, Export Promotion, Poverty
Alleviation, Reforestation.
He authored several laws on economic, fiscal, and financial reforms
including: Liberalizing the Entry and Scope of Operations of Foreign
Banks in the Philippines (Republic Act 7221); Investment Houses
Law (RA 8366); Magna Carta for Small Enterprises (RA 6911); Promotion
of Foreign Investments (RA 7042); Intellectual Property Rights
(RA 8293); Replacing Quantitative Restrictions on Agricultural
Products Except Rice (RA 8179); Establishing the Overseas Investment
Fund (RA 7111); New Central Bank Act (RA 7653); Export Development
Act (RA 7844); Instituting the Dual Training System in the Philippines
(RA 7686); Modernizing and Enhancing the Profitability of the
Agricultural and Fisheries Sector (RA 8434); Strengthening the
Crop Insurance System (RA 8175); Creating the Cooperative Development
Authority (RA 6939); Amending the National Revenue Code (RA 8242);
and Restructuring the Excise Tax on Petroleum Products (RA 8184).
In the private sector, Secretary Teves held numerous senior positions
in both industry organizations and corporations. These include
membership in the Board of Directors of more than 10 organizations,
most recently being the Manila Electric Company and the Philippine
Equity Fund, Inc. He was also a member of the Board of Governors
of the Philippine Stock Exchange, ASEAN Finance Corporation, Bankers
Association of the Philippines, Asia Pacific Rural, Agricultural
Credit Association, a council member of the National Food Authority,
and private sector representative to the Economic Coordinating
Council. Prior to his appointment as Finance Secretary, Mr. Teves
was president and chief executive officer of Land Bank of the
Philippines since September 2000.
Secretary Teves holds a Higher National Diploma in Business Studies
(equivalent to a Bachelor of Science in Business Economics) from
the City of London College, United Kingdom and a Master of Arts
in Development Economics from Williams College in the United States.
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