Make your own free website on Tripod.com
CHAN ROBLES AND ASSOCIATES LAW FIRM - Welcome to the Home of the Philippine On-Line Legal Resources
 
PHILIPPINE FOREIGN INVESTMENT LAWS
 
Sponsored by:  The ChanRobles Group
 
This web page features the full text of
Executive Order No. 11
approving the
Third Regular Foreign Investments Negative List
of the
Foreign Investments Act of the Philippines.
 
 
 

THIRD REGULAR FOREIGN INVESTMENTS NEGATIVE LIST 
[Executive Order No. 11 dated August 11, 1998]

    WHEREAS, Republic Act  8179, which amends R. A. 7042 also known as the Foreign Investments Act of 1991, provides the formulation of a Regular Foreign Investments Negative List covering the investment areas/activities which may be opened to foreign investors and/or reserved to Filipino nationals;

    WHEREAS, the Regular Foreign Investment Negative List, consisting of List A and B, has the effectivity of two years pursuant to the Implementing Rules and Regulations of the Foreign Investments Act of 1991;

    WHEREAS, there is a need to formulate the third Foreign Investment Negative List in view of the expiration of the effectivity of the existing List on 23 October 1998, as well as to incorporate thereto those provisions of existing laws on foreign investments;

    NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

    SECTION 1.  Only the investment areas and/or activities listed in Annex A herewith shall be reserved to Philippine nationals, and hereafter shall be referred to as the Third Regular Foreign Investments Negative List.  The extent of foreign equity participation in these areas shall be limited to the percentages indicated in the List.

    SECTION 2.  Any amendment to List A may be made at any time to reflect changes instituted in specific laws while amendments to List B shall not be made more often than once every two years, pursuant to Section 8 of the Foreign Investments Act of 1991, as amended, and of its Implementing Rules and Regulations.

    SECTION 3.  All orders, issuances, regulations or parts thereof which are inconsistent with this Order are hereby revoked or modified accordingly.

    SECTION 4.  This Order shall take effect immediately on 24 October 1998.

    DONE, in the City of Manila, this 11th day of August in the Year of our Lord, Nineteen Hundred and Ninety Eight.

[Sgd.]  JOSEPH E. ESTRADA
By the President:

RONALDO B. ZAMORA
Executive Secretary

ANNEX "A" - LIST A
ANNEX "B" - LIST B
 
 
Back to Top  -  Back to Home Page  -  Back to Investment Index
 
URL : http://www.chanrobles.com/default3a.htm
 Copyright ©1998 by ChanRobles Publishing Company 
 All Rights Reserved 
A production of The ChanRobles Group
Questions and comments mailto: 
cralaw@vasia.com or jgc@chanrobles.com 
Designed & Maintained by: 
Harvard Computer Systems, Inc. 
contents disclaimer   e-mail restriction 
[Our site works best at 800x600 resolution with Netscape]
     
Since 19.07.98