THIRD REGULAR FOREIGN
INVESTMENTS
NEGATIVE LIST
[Executive
Order No. 11 dated August 11, 1998]
WHEREAS, Republic Act 8179, which amends R. A. 7042
also
known as the Foreign Investments Act of 1991, provides the formulation
of a Regular Foreign Investments Negative List covering the investment
areas/activities which may be opened to foreign investors and/or
reserved
to Filipino nationals;
WHEREAS, the Regular Foreign Investment Negative List,
consisting
of List A and B, has the effectivity of two years pursuant to the
Implementing
Rules and Regulations of the Foreign Investments Act of 1991;
WHEREAS, there is a need to formulate the third Foreign
Investment
Negative List in view of the expiration of the effectivity of the
existing
List on 23 October 1998, as well as to incorporate thereto those
provisions
of existing laws on foreign investments;
NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the
Republic
of the Philippines, by virtue of the powers vested in me by law, do
hereby
order:chanroblesvirtuallawlibrary
SECTION 1. Only the investment areas and/or activities listed in
Annex A herewith shall be reserved to Philippine nationals, and
hereafter
shall be referred to as the Third Regular Foreign Investments Negative
List. The extent of foreign equity participation in these areas
shall
be limited to the percentages indicated in the List.
SECTION 2. Any amendment to List A may be made at any time to
reflect
changes instituted in specific laws while amendments to List B shall
not
be made more often than once every two years, pursuant to Section 8 of
the Foreign Investments Act of 1991, as amended, and of its
Implementing
Rules and Regulations.
SECTION 3. All orders, issuances, regulations or parts thereof
which
are inconsistent with this Order are hereby revoked or modified
accordingly.
SECTION 4. This Order shall take effect immediately on 24 October
1998.
DONE, in the City of Manila, this 11th day of August in the Year
of
our Lord, Nineteen Hundred and Ninety Eight.
[Sgd.]
JOSEPH E. ESTRADA
By
the
President:cralaw:red
RONALDO
B. ZAMORA
Executive
Secretary
ANNEX
"A" - LIST A
ANNEX
"B" - LIST B
| 
