Updates the Foreign Investment Negative List (FINL)
27 Jun 2022
On 27 June 2022, the Government of Philippines issued the 12th Foreign Investment Negative List (FINL), by removing the manufacture, repair, storage and/or distribution of products requiring clearance from the Department of National Defense (“DND”). These products include guns and ammunition for warfare, military ordnance, guided missiles, tactical aircraft, space vehicles and military communication equipment. A foreign equity cap of 40 per cent applies.
In addition, the 12th FINL reflects the recent amendments to the Retail Trade Liberalisation Act (“RTLA”) which allows full foreign ownership of retail trade enterprises with a minimum paid up capital of $446,000 (previously $2,500,000).
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Type:
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Entry and establishment (Approval and admission)
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Industry:
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Manufacturing (Other manufacturing)
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Services (Wholesale and retail trade)
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Sources:
