MALACAÑAN PALACE
MANILABY THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER No. 98
PROMULGATING THE NINTH 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; and
WHEREAS, there is a need to formulate the Ninth Regular Foreign Investment Negative List, replacing the Eight Regular Foreign Investment Negative List, to reflect changes to List A pursuant to existing laws and upon recommendation of concerned agencies.
NOW, THEREFORE, I, BENIGNO S. AQUINO III, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:
SECTION 1. Ninth Regular Foreign Investment Negative List. Only the investment areas and/or activities listed in the Annex hereof shall be reserved to Philippine nationals, and hereafter shall be referred to as the Ninth Regular Foreign Investment Negative List. The extent of foreign equity...
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Executive Orders
Promulgating The Ninth Regular Foreign Investment Negative List
Executive Order No. 98
Summary of Executive Order No. 98
Promulgation of the Ninth Regular Foreign Investment Negative List (Section 1):
- Only the investment areas/activities listed in the Annex shall be reserved to Philippine nationals.
- The extent of foreign equity participation in these areas shall be limited to the percentages indicated in the List.
Amendments to the List (Section 2):
- Amendments to List A (areas reserved to Philippine nationals) may be made at any time to reflect changes instituted in specific laws.
- 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 revised implementing rules and regulations.
Repeal of Inconsistent Issuances (Section 3):
- All issuances, orders, rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby repealed, amended or modified accordingly.
Separability Clause (Section 4):
- If any provision of this Executive Order is declared invalid or unconstitutional, the other provisions not affected thereby shall remain valid and subsisting.
Effectivity (Section 5):
- This Executive Order shall take effect fifteen (15) days after its publication in a newspaper of general circulation.
Promulgation of the Ninth Regular Foreign Investment Negative List (Section 1):
- Only the investment areas/activities listed in the Annex shall be reserved to Philippine nationals.
- The extent of foreign equity participation in these areas shall be limited to the percentages indicated in the List.
Amendments to the List (Section 2):
- Amendments to List A (areas reserved to Philippine nationals) may be made at any time to reflect changes instituted in specific laws.
- 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 revised implementing rules and regulations.
Repeal of Inconsistent Issuances (Section 3):
- All issuances, orders, rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby repealed, amended or modified accordingly.
Separability Clause (Section 4):
- If any provision of this Executive Order is declared invalid or unconstitutional, the other provisions not affected thereby shall remain valid and subsisting.
Effectivity (Section 5):
- This Executive Order shall take effect fifteen (15) days after its publication in a newspaper of general circulation.