Business groups in favor of easing restrictions on foreign investments

📆 27/9/2019 2:54 AM
📰 rapplerdotcom

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Several business groups are backing moves to amend the 1987 Constitution's provisions which limit the participation of foreign investors in the country.

MANILA, Philippines – Several business groups are backing moves to amend the 1987 Constitution's provisions which limit the participation of foreign investors in the country.

One common proposal is to ease the constitutional restrictions on foreign investments – either by completely removing the requirement that at least 60% of public utility enterprises' capital stock must be owned by Filipino citizens or corporations, or by giving Congress the power to pass a law that would allow this.

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