Re: Application of the Retail Trade Liberalization Act to Clark Freeport Zone

May 29, 2019SEC-OGC OPINION NO. 21-19RE: APPLICATION OF THE RETAIL TRADE LIBERALIZATION ACT TO CLARK FREEPORT ZONEClark Development Corporation2/F Bldg. 2125 C.P. Garcia cornerE. Quirino Avenue, Clark Freeport PhilippinesAttention: Ms. Thelma C. OcampoAssistant Vice PresidentBusiness Development Department IDear Ms. Ocampo,This refers to your letter dated 16 January 2017 requesting for an opinion on whether a foreign national planning to incorporate a 100% foreign corporation, the primary business of which is a restaurant, and is planning to locate within Clark Freeport Zone (CFZ), an economic zone, is exempt from the requirements of Republic Act (RA) No. 8762 or Retail Trade Liberalization Act of 2000 (RTLA) and RA No. 7042 or Foreign Investment Acts (FIA). You stated that CFZ is the former Clark Air Base proper which was created pursuant to the Bases Conversion and Development Act (BCD Act) or RA No. 7227, as amended by RA Nos. 7917 and 9400, and Proclamation No. 163, series of 1993. Further, you disclosed that CFZ is being managed by Clark Development Corporation (CDC), a government owned and controlled corporation...