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CHAN ROBLES AND ASSOCIATES LAW FIRM - Welcome to the Home of the Philippine On-Line Legal Resources
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This web page features the full text of
List A
of the
Third Regular Foreign Investments Negative List
of the
Foreign Investments Act of the Philippines.

[Executive Order No. 11 dated August 11, 1998]

No Foreign Equity

1.  Mass Media except recording [Article XVI, Section 11 of the Constitution; Presidential Memorandum Order dated 04 May 1994].

2.  Services involving the practice of licensed professions save in cases prescribed by law.

3.  Retail Trade [Republic Act No. 1180]

4.  Cooperatives [Chapter III, Article 26 of R. A. No. 6938]

5.  Private Security Agencies [Section 4 of R. A. No. 5487]

6.  Small-scale Mining [Section 3 of R. A. No. 7076]

7.  Utilization of marine resources in archipelagic waters, territorial sea, and exclusive economic zone [Article XII, Section 2 of the Constitution]

8.  Ownership, operation and management of cockpits [Section 5 of Presidential Decree No. 449]

9.  Manufacture, repair, stockpiling and/or distribution of nuclear weapons [Article II, Section 8 of the Constitution]

10.  Manufacture, repair, stockpiling and/or distribution of biological, chemical and radiological weapons [Various treaties to which the Philippines is a signatory and conventions supported by the Philippines)1

11.  Manufacture of firecrackers and other pyrotechnic devices [Section 5 of R. A. No. 7183].

Up to Twenty-Five Percent (25%) Foreign Equity
12.  Private recruitment, whether for local or overseas employment [Articles 27 of Presidential Decree No. 442]

13.  Contracts for the construction and repair of locally-funded public works except:

Up to Thirty Percent (30%) Foreign Equity
14.  Advertising [Article XVI, Section 11 of the Constitution]
Up to Forty Percent (40%) Foreign Equity

15.  Exploration, development and utilization of natural resources (Article XII, Section 2 of the Constitution)2

16.  Ownership of private lands [Article XII, Section 7 of the Constitution; Chapter 5, Section 22 of Commonwealth Act No. 141]

17.  Operation and management of public utilities [Article XII, Section 11 of the Constitution; Section 16 of Commonwealth Act No. 146]

18.  Ownership/establishment and administration of educational institutions [Article XIV, Section 2 of the Constitution]

19.  Engaging in the rice and corn administration [Presidential Decree No. 194].

20.  Contracts for the supply of materials, goods and commodities to government-owned or controlled corporation, company, agency or municipal corporation.  [Section 1 of R. A. No. 5183]

21.  Project proponent and facility operator of a BOT project requiring a public utilities franchise [Article XII, Section 11 of the Constitution; Section 2(a) of R. A. No. 7718]

22.  Operation of deep-sea commercial fishing vessels [Section 27 of R. A. No. 8550].

23.  Adjustment Companies [Section 323 of Presidential Decree No. 612 as amended by Presidential Decree No. 1814].

24.  Ownership of condominiums [Section 5 of R. A. No. 4726].

Up to Sixty Percent (60%) Foreign Equity

25.   Financing companies regulated by the Securities and Exchange Commission [SEC] [Section 6 of R. A. No. 5980 as amended by R. A. No. 8556]3

26.  Investment houses regulated by the SEC [ Presidential Decree No. 129 as amended by R. A. No. 8366].
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