Philippines pushes to ease foreign investment rules

There is a growing trend toward deregulation of foreign investment in the Philippines. Although the country is curbing foreign companies from participating with strict investment restrictions, the Duterte administration’s influential lower house of parliament has approved the relaxation plan and is also eager to amend the Constitution’s provisions.”If this is realized, competition with foreign capital will begin in earnest, and it will affect the industrial structure controlled by local conglomerates.

“We will support efforts to liberalize investment to strengthen the competitive environment,” Lopez said in a speech at the end of February over deregulation of foreign investment. I support the House of Representatives, which approved the relaxation of three laws related to foreign investment regulations, the Foreign Investment Act, the Public Service Act, and the Retail Liberalization Act, within 2020. They expressed hope that the Senate would enter into the discussion.

Speaker of the House of Representatives Velasco, who is close to President Duterte, also submitted a constitutional amendment to Congress that includes the phrase, “Special law regulations are excepted. “I have expressed confidence that I will get approval by the end of May. The purpose is to make room for flexible relaxation of foreign investment regulations by allowing exceptions under individual laws.”


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