President Rodrigo Duterte has signed executive order No. 175 (EO 175) updating the regular foreign investment negative list, which enumerates the areas or activities open to foreign investors and those that are reserved only to Filipino nationals.
The revised list is aligned with the recently passed amendments to the Foreign Investments Act (FIA), Public Service Act (PSA), and Retail Trade Liberalization Act (RTLA). The list incorporates the amendments to the RTLA that provides for a uniform minimum paid-up capital of USD500,000 (PHP25 million) from as much as USD2.5 to 7.5 million for non-luxury foreign retailers.
This issuance is consistent with the policy to ease restrictions on foreign participation in the Philippines.
Access the 12th RFINL here.
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