Relaxed foreign investment rules to take effect in 2018 — Dominguez
The year 2018 will be friendlier to foreigners if things go as planned.
Finance Secretary Carlos Dominguez III said that existing foreign ownership limits may be eased effective next year, committing that the Duterte administration is working to “open up the economy to more long-term, job-generating foreign direct investments.”
Dominguez told Japanese investors during a roadshow in Tokyo that the Philippine government is currently reviewing its Foreign Investment Negative List (FINL) with the goal of lifting foreign ownership limits, particularly in construction to help boost the infrastructure drive.
“A window opened for us to review that list. We are currently reviewing it with the idea of removing areas such as construction and other areas to foreign investments,” Dominguez said, while committing that a parallel review of the 1987 Constitution is expected to start over the next year.