MANILA, Philippines — Removing the restrictions on foreign investors in the Philippines will create a “flexible regime” that would assist in the gradual reopening of the country’s economy, the Department of the Interior and Local Government (DILG) said Thursday.
“The Constitution bars foreign ownership of certain industries in the country, and if we allow foreigners to invest in these public utilities and restrictive areas then, we will have more foreign investments,” said DILG Undersecretary and spokesman Jonathan Malaya in an interview over ABS-CBN News Channel.
“By passing the proposal of the RBH 2 [Resolution of Both Houses No. 2], which is the legislative measure pending in …
Keep on reading: DILG: Lifting restrictions on foreign investors will create ‘flexible regime’ for economy