Amended the Foreign Investment Act of 1991
09 Sep 2019
On 9 September 2019, lawmakers approved House Bill 300, which amended two provisions of the Foreign Investments Act of 1991, to attract more foreign investment into the country.
The two amended provisions pertain to the removal of the ‘practice of professions’ from the Foreign Investment Negative List, as well as to a reduction in the number of mandatory direct local hires by foreign investors from 50 to 15.
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Type:
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Entry and establishment (Ownership and control)
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Treatment and operation (Operational conditions )
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