ANNOUNCEMENT 29 May 2015

On 29 May 2015, the Philippines government announced the release of the 10th Regular Foreign Investment Negative List. The List regulates foreign participation in economic and commercial activities in the Philippines. 

In summary, the amendments include allowing more foreign participation in a number of professions.

The order is effective 15 days from publication in a newspaper of general circulation.

NUMBER OF INTERVENTIONS

3

  • 1 harmful
  • 0 neutral
  • 2 liberalising

SOURCE

The Philippines Gazette, Promulgating the Tenth Regular Foreign Investment Negative List, 29 May 2015. Available at: https://www.sec.gov.ph/wp-content/uploads/2015/08/EONo.-184-The-Tenth-Regular-Foreign-Investment-Negative-List.pdf

The Philippines Gazette, Promulgating the Ninth Regular Foreign Investment Negative List, 29 October 2012. Available at: https://www.sec.gov.ph/wp-content/uploads/2015/07/EO-98-_-6th-Foreign-Investment-Negative-List.pdf

Inception date: 13 Jun 2015 | Removal date: open ended

FDI: Entry and ownership rule

On 29 May 2015, the Philippines government announced the release of the 10th Regular Foreign Investment Negative List. The List regulates foreign participation in economic and commercial activities in the Philippines.

40% maximum foreign participation have been imposed on the following activities.

The first is educational institutions other than those established by religious groups and mission boards. Previously, the above activities were not included in the list.

The second is regarding ownership of condominium units. Previously must have common areas which are co-owned by the owners of the separate units, or owned by a corporation.

The order is effective 15 days from publication in a newspaper of general circulation.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 13 Jun 2015 | Removal date: open ended

Labour market access

On 29 May 2015, the Philippines government announced the release of the 10th Regular Foreign Investment Negative List. The List regulates foreign participation in economic and commercial activities in the Philippines.

In summary, the amendments include allowing more foreign participation in a number of professions.

Previously, full restriction on foreign participation was imposed on over 30 professions. Now, restrictions have relaxed for the practice of those professions, including various forms of engineering, medical technology and related professions, real estate and psychology. Foreign participation in the above professions are allowed only upon reciprocity with foreign governments.

Only the following professions are fully reserved for Filipino citizens:

  • pharmacy,
  • radiologic and x-ray technology,
  • criminology,
  • forestry, and
  • law.

The order is effective 15 days from publication in a newspaper of general circulation.

 
N/A
Inception date: 13 Jun 2015 | Removal date: open ended

FDI: Entry and ownership rule

On 29 May 2015, the Philippines government announced the release of the 10th Regular Foreign Investment Negative List. The List regulates foreign participation in economic and commercial activities in the Philippines.

The 40% maximum foreign participation restriction has been removed on project proponent and facility operator of a build-operate-transfer BOT Project requiring a public utilities franchise.

In addition, the 49% maximum foreign equity restriction has been removed from lending companies. Similarly, the 60% maximum foreign equity restriction has been removed from financing companies and investment houses regulated by the SEC. 

The above activities are now fully open to foreign participation.

The order is effective 15 days from publication in a newspaper of general circulation.

 
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