However, the growth decelerated towards year-end from the exceptionally high rates observed earlier in the year, as the temporary impetus from inventory replenishment, which had fuelled growth in the early part of 2010, began to recede. Simultaneously, the strong export growth also began to lose momentum.
Later on in my presentation, I will discuss the FIST Bill Business Model, the necessity of enacting FIST Bill, and the improvements from the Special Purpose Vehicle Act (“SPV”) of 2002, as amended, introduced in FIST Bill which aim to address the issues and difficulties encountered during the implementation of SPV Act and to cater to the present needs of financial institutions, especially in this pandemic.