UpdatePresident Rodrigo Duterte has signed an executive order updating the list of investment areas, which prohibits or limits foreign ownership in the Philippines. 65, promulgating the 11th regular foreign investment negative list on October 29 but was released to media only on Wednesday. Under the EO, a 30-percent foreign equity on advertising remains. A 40 percent cap on locally-funded public works and private radio communications network sector is now allowed up from the previous 25 percent and 20 percent. 7718, as well as projects which are foreign-funded or assisted and required to undergo international competitive bidding,” Panelo said.

Source: Philippine Daily Inquirer October 31, 2018 04:51 UTC