Promulgating The Fifth Regular Foreign Investment Negative List
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Promulgating The Fifth Regular Foreign Investment Negative List
Executive Order No. 139
October 27, 2002
Case Overview and Summary
Promulgating the Fifth Regular Foreign Investment Negative List- Pursuant to Republic Act (RA) No. 7042 (Foreign Investments Act of 1991), as amended by RA 8179, the President is authorized to formulate a Regular Foreign Investment Negative List covering investment areas/activities that may be opened to foreign investors and/or reserved to Filipino nationals. (Preamble)
- The Regular Foreign Investment Negative List consists of Lists A and B, and is effective for two years. (Preamble)
- There is a need to formulate the Fifth Regular Foreign Investment Negative List to reflect changes to Lists A and B provided in new laws and recommended by concerned government agencies. (Preamble)
- Only the investment areas and/or activities listed in Annex A shall be reserved to Philippine nationals, and shall be referred to as the Fifth Regular Foreign Investment Negative List. (Section 1)
- The extent of foreign equity participation in these areas shall be limited to the percentages indicated in the List. (Section 1)
- Amendments to List A may be made at any time to reflect changes instituted in specific laws. (Section 2)
- Amendments to List B shall not be made more often than once every two years, pursuant to Section 8 of RA 7042 as amended, and its Implementing Rules and Regulations. (Section 2)
- All orders, issuances, rules and regulations or parts thereof, which are inconsistent with this Order are hereby revoked or modified accordingly. (Section 3)
- This order shall take effect fifteen (15) days after publication. (Section 4)
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Executive Issuances
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Foreign Investment Negative List
Foreign Investments Act of 1991
Republic Act No. 7042
Republic Act No. 8179
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Philippine nationals
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Promulgating The Fifth Regular Foreign Investment Negative List
Executive Order No. 139
•October 27, 2002
MALACAÑANG
Manila
BY THE PRESIDENT OF THE PHILIPPINES
Executive Order No. 139             October 27, 2002
PROMULGATING THE FIFTH REGULAR FOREIGN INVESTMENT NEGATIVE LIST
WHEREAS, Republic Act (RA) No. 7042, also known as the Foreign Investments Act of 1991, as amended by RA 8179, provides for the formulation of a Regular Foreign Investment Negative List covering 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 Lists A and B, is effective for two years pursuant to Section B of RA 7042 as amended and its Implementing Rules and Regulations;
WHEREAS, there is a need to formulate a Fifth Regular Foreign Investment Negative List to reflect changes to List A and B provided in new laws and recommended by concerned government agencies;
NOW, THEREFORE, I, GLORIA MACAPAGAL ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by Law, do hereby order:
Section 1. Only the investment areas and/or activities...
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