Fully Foreign-Owned Investment Houses to be Allowed to Operate in the Philippines

Fully foreign-owned investment houses will be allowed to operate in the country as the government will remove the restriction in early September. The decision was reached during a recent meeting of the country’s economic managers, who found that there was no constitutional restriction in the ownership of investment houses. Secretary Ernesto Pernia earlier stated that he would remove foreign ownership restriction rules in industries where it could be done administratively without the need to change the…

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