What are the areas of investments covered by Foreign Investments Act (FIA)?
The FIA covers all investment areas except banking and other financial institutions, which are governed and regulated by the Bangko Sentral ng Pilipinas (BSP). Foreign Investment Negative List – means a list of areas of economic activity whose foreign ownership is limited to a maximum of forty percent (40%) of the outstanding capital stock in the case of a corporation or capital in the case of partnership. Below are Negative Lists A & B where: List A: refers to areas reserved to Filipinos by mandate of the Constitution and Special Laws such as but not limited to: Mass Media except recording, practice of licensed profession, retail trade, cooperative and small-scale mining, etc. where foreign ownership is prohibited; Advertising, ownership of land, operation and management of public utilities, etc., where only minority foreign ownership is prohibited.
