Alien Infiltration of Retail Trade Industry in Negros Province
SEC Advisory • Securities and Exchange Commission • Advisories • Jun 14, 2013
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June 14, 2013 SEC ADVISORY ALIEN INFILTRATION OF RETAIL TRADE INDUSTRY IN NEGROS PROVINCE The SEC's attention has been called to the increasing number of small foreign retailers in the Negros Province. Under the Retail Trade Nationalization Act, the retail trade industry is reserved to Filipino citizens considering that said business venture can be adequately handled by Philippine nationals. It has been reported to the Commission that certain aliens now engage in retail trade by operating a small store which, as a general rule, is prohibited under the Retail Trade Nationalization Act. Further, the use of dummy in retail trade operation is absolutely prohibited.
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