"x x x.
Duterte updates investment list for foreigners, Filipino nationals
By Dharel Placido, ABS-CBN News
Posted at Oct 31 2018 12:32 PM
Updated as of Oct 31 2018 06:43 PMnews.abs-cbn.com
Meanwhile, the 25-percent foreign equity limit remains for private recruitment and contracts for construction of defense-related structures.
x x x.
Duterte [has] issued Executive Order No. 65, the eleventh edition of the so-called foreign investment "negative list," xxx.
x x x.
Under the EO, no foreign equity is allowed under the following areas or activities by mandate of the Constitution and specific laws:
1. Mass media (except recording and internet business)
2. Practice of professions, including radiologic and X-ray technology, law, marine deck officers and marine engine officers
3. Retail trade enterprises with paid-up capital of less than $2.5 million
4. Cooperatives
5. Organization and operation of private detective, watchmen or security guard agencies
6. Small-scale mining
7. Utilization of marine resources in archipelagic waters, territorial sea and exclusive economic zone as well as small-scale utilization of natural resources in rivers, lakes, bays and lagoons
8. Ownership, operation and management of cockpits
9. Manufacture, repair, stockpiling and/or distribution of nuclear weapons
10. Manufacture, repair, stockpiling and/or distribution of biological, chemical and radiological weapons and anti-personnel mines
11. Manufacture of firecrackers and other pyrotechnic devices
Foreigners are allowed to practice certain professions in the Philippines provided that their home country accord Filipinos the same grant.
Foreigners may have 40 percent equity in the private radio communications network sector, up from the previous 20 percent in the 10th negative list.
The foreign equity for contracts for the construction and repair of locally funded public works was also raised to 40 percent from the previous 25 percent.
xxx. [This] does not cover infrastructure or development projects under the Build-Operate-Transfer Law, as well as projects which are foreign-funded or assisted and required to undergo international competitive bidding.
xxx.
1. Mass media (except recording and internet business)
2. Practice of professions, including radiologic and X-ray technology, law, marine deck officers and marine engine officers
3. Retail trade enterprises with paid-up capital of less than $2.5 million
4. Cooperatives
5. Organization and operation of private detective, watchmen or security guard agencies
6. Small-scale mining
7. Utilization of marine resources in archipelagic waters, territorial sea and exclusive economic zone as well as small-scale utilization of natural resources in rivers, lakes, bays and lagoons
8. Ownership, operation and management of cockpits
9. Manufacture, repair, stockpiling and/or distribution of nuclear weapons
10. Manufacture, repair, stockpiling and/or distribution of biological, chemical and radiological weapons and anti-personnel mines
11. Manufacture of firecrackers and other pyrotechnic devices
Foreigners are allowed to practice certain professions in the Philippines provided that their home country accord Filipinos the same grant.
Foreigners may have 40 percent equity in the private radio communications network sector, up from the previous 20 percent in the 10th negative list.
The foreign equity for contracts for the construction and repair of locally funded public works was also raised to 40 percent from the previous 25 percent.
xxx. [This] does not cover infrastructure or development projects under the Build-Operate-Transfer Law, as well as projects which are foreign-funded or assisted and required to undergo international competitive bidding.
xxx.
Meanwhile, the 25-percent foreign equity limit remains for private recruitment and contracts for construction of defense-related structures.
The 30 percent cap for the advertising sector also remains.
Aside from contracts for locally funded public works, foreigners may also hold up to 40 percent equity in the following areas:
1. Exploration, development, and utilization of natural resources
2. Ownership of private lands
3. Operation of public utilities, except power generation and supply of electricity to the contestable market and such other like businesses or services not covered by the definition of public utilities
4. Educational institutions other than those established by religious groups and mission boards
5. Culture, production, milling, processing, trading except retailing, of rice and corn and acquiring, by barter, purchase or otherwise, rice and corn and the by-products thereof
6. Contracts for the supply of materials, goods and commodities to government-owned and controlled corporation, company, agency or municipal corporation
7. Operation of deep sea commercial fishing vessels
8. Ownership of condominium units
100 PERCENT FOREIGN OWNERSHIP
Meanwhile, the National Economic and Development Authority (NEDA) said with the signing of EO No. 65, five investment areas and activities will now allow up to 100 percent foreign participation. These are:
1. Internet businesses
2. Teaching at higher education levels provided the subject being taught is not a professional subject (i.e., included in a government board or bar examination)
3. Training centers that are engaged in short-term high-level skills development that do not form part of the formal education system
4. Adjustment companies, lending companies, financing companies and investment houses
5. Wellness centers
Aside from contracts for locally funded public works, foreigners may also hold up to 40 percent equity in the following areas:
1. Exploration, development, and utilization of natural resources
2. Ownership of private lands
3. Operation of public utilities, except power generation and supply of electricity to the contestable market and such other like businesses or services not covered by the definition of public utilities
4. Educational institutions other than those established by religious groups and mission boards
5. Culture, production, milling, processing, trading except retailing, of rice and corn and acquiring, by barter, purchase or otherwise, rice and corn and the by-products thereof
6. Contracts for the supply of materials, goods and commodities to government-owned and controlled corporation, company, agency or municipal corporation
7. Operation of deep sea commercial fishing vessels
8. Ownership of condominium units
100 PERCENT FOREIGN OWNERSHIP
Meanwhile, the National Economic and Development Authority (NEDA) said with the signing of EO No. 65, five investment areas and activities will now allow up to 100 percent foreign participation. These are:
1. Internet businesses
2. Teaching at higher education levels provided the subject being taught is not a professional subject (i.e., included in a government board or bar examination)
3. Training centers that are engaged in short-term high-level skills development that do not form part of the formal education system
4. Adjustment companies, lending companies, financing companies and investment houses
5. Wellness centers
x x x."
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