FOREIGN CHAMBERS want the government to consider shortening the Foreign Investment Negative List to support President Benigno S. C. Aquino III’s promise of a Philippines that is “open for business.”
The call comes as the National Economic and Development Authority (NEDA) finalizes a poll of government agencies in preparation for a biennial review of the list, which details how much foreign participation is allowed for specific activities/investment areas.
“All policies and regulations need periodic review, but if it’s just the same old list every two years, then what is the NEDA board doing?” said John D. Forbes, American Chamber of Commerce of the Philippines legislative committee chairman, at the sidelines of a briefing on the Joint Foreign Chambers’ Arangkada reform initiative.
“In 2001, we had the Retail Trade [Liberalization] Act. There was nothing of significance after that until last year when under former President Gloria Macapagal-Arroyo, the gambling industry was liberalized and it was allowed to be 100% foreign owned from just 40% in PEZA (Philippine Economic Zone Authority) areas,” he added.
The Regular Foreign Investment Negative List, which is renewed through an Executive Order (EO) every three years, undergoes a regular review by the NEDA board, which is headed by the president and composed of Cabinet members and the central bank governor. The latest list (EO 858) was signed in February last year.
“The foreign chambers look forward to the upcoming review in terms of a potential agenda of proposed laws and proclamations that will make the negative list less negative,” Mr. Forbes said.
On Monday, European Chamber of Commerce of the Philippines Vice-President Henry Schumacher said in a text message: “Easy solutions to make the list less negative are the limitations on professions and applying the condominium rules horizontally.”
“Others like the limitation on utilities need to be better interpreted and in the end need some form of constitutional amendment,” he added.
A NEDA official said the agency was currently wrapping up a survey where government agencies were asked to comment on foreign ownership policies.
“We distributed a survey to different agencies of the government early this year on the issue ,” NEDA director Brenda Joyce R. Mendoza told BusinessWorld on Monday.
“The target presentation to the NEDA board is in October or November,” she added. –Businessworld
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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