8 Nov 2018
PHILIPPINES: Financial and Education Sector Opened Up to 100% Overseas Investment
Following a review of the country’s Foreign Investment Negative List (FINL), businesses in a number of additional sectors have been cleared to be 100% overseas-owned, including higher education (with the exception of professional subjects), skills training (in subjects not included in the country’s formal education system), investment houses and adjustment, lending and finance companies.
In addition, the maximum limit for foreign participation in projects related to the construction and repair of public utilities has been raised from 25% to 40%. The changes were formally approved by Rodrigo Duterte, the President of the Philippines, on 29 October.