28 Nov 2017
PHILIPPINES: Overseas Investment Restrictions Set to be Eased in Regulatory Shake-up
Expectations are high that a number of the current restrictions on overseas-sourced investment are set to be lifted. This speculation has been sparked by news that Rodrigo Duterte, the Philippine President, has briefed the National Economic and Development Authority (NEDA), the country’s primary economic development and planning body, on introducing immediate foreign investor-friendly reforms in a number of key sectors.
Among the areas said to be targeted are infrastructure development; retailing; education, and the processing and trade of agricultural commodities. Amendments are also expected to be made to the regulations governing the employment of non-Filipino staff.
Further details will be provided as the exact nature of the changed regulatory requirements becomes apparent.