Full Foreign Ownership In Proposed Charter Amendments

Recommended Posts

Mr Lee

Well it is a start if it passes, but they should also allow ownership of the land (of reasonable size) that a home sits on.MANILA, Philippines - Lawmakers at the House of Representatives Committee on Constitutional Amendments have tackled the economic provisions in the 1987 constitution they want changed. In a slide presentation to his colleagues, committee chairperson Rep. Loreto Leo Ocampos listed the following amendments:

  • removal of provision for the exclusive control and management of Filipinos over companies in the Philippines with foreign equity
  • removal of the 60%-40% equity limits in companies favoring Filipinos
  • expanding the role of foreign investors in the exploration, development and utilization of natural resources
  • allowing foreigners to practice their profession in the country with the principle of reciprocity
  • foreign investments in tertiary education
  • extension of 50-year land lease limits
  • allowing foreign ownership of industrial lands
  • allowing foreign investments in media

Read more at the link above.

  • Like 1
Link to comment
Share on other sites

This topic is now closed to further replies.
  • Create New...