REGISTER FOR REGULAR UPDATES
DATE AND TIME
Fri, 30 Jun. 2017, 09:30
Fri, 30 Jun. 2017, 10:30
The Philippines is one of the fastest growing economies in the world with an economic growth of 6.8% in 2016, and a remarkably positive GDP growth trajectory over the past decade projected at 7% by 2018.
While the Philippines embodies the necessary economic fundamentals (i.e. strong domestic consumption, big market, expanding middle class), one of the major barriers to doing business is the legal restriction stipulated in the Foreign Investment Negative List (FINL), which prohibits or limits the participation of foreign companies in identified sectors. The FINL completely disallows foreign ownership on mass media, the practice of all licensed professions, retail, cooperatives, private security agencies, small-scale mining, utilization of marine resources, ownership, operation and management of cockpits and manufacture, repair, stockpiling and/or distribution of nuclear weapons.
On the other hand, some sectors are open for foreign players to a certain percentage only; the Constitution allows up to 40% maximum foreign ownership. The current administration is lauded for its openness to ease the FINL, which, as a result, could increase the country’s competitiveness and foreign direct investments (FDI).
Join this webinar on the Philippine Foreign Investment Negative List (FINL) to help you better understand the legal provisions and restrictions in doing business in the Philippines. The expert speaker will also walk you through the latest updates following the government’s move to amend the current FINL to improve the country’s ease of doing business and competitiveness.