Sixth Regular Foreign Investment Negative List
Executive Order No. 389, issued on November 30, 2004, promulgates the Sixth Regular Foreign Investment Negative List in the Philippines, which defines investment areas reserved for Filipino nationals and specifies limits on foreign equity participation. This list replaces the previous one that expired on November 8, 2004, and allows for amendments to List A at any time, while List B can be amended no more than every two years. The order revokes any inconsistent prior regulations and takes effect 15 days after publication. This executive action is part of the implementation of the Foreign Investment Act of 1991, as amended.
Quick Answers
- What is Sixth Regular Foreign Investment Negative List about?
- Executive Order No. 389, issued on November 30, 2004, promulgates the Sixth Regular Foreign Investment Negative List in the Philippines, which defines investment areas reserved for Filipino nationals and specifies limits on foreign equity participation. This list replaces the previous one that expired on November 8, 2004, and allows for amendments to List A at any time, while List B can be amended no more than every two years. The order revokes any inconsistent prior regulations and takes effect 15 days after publication. This executive action is part of the implementation of the Foreign Investment Act of 1991, as amended.
- What type of law is Executive Order No. 389?
- Sixth Regular Foreign Investment Negative List (Executive Order No. 389) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Sixth Regular Foreign Investment Negative List enacted?
- Sixth Regular Foreign Investment Negative List (Executive Order No. 389) was enacted on Nov 30, 2004.
- What is the citation for Sixth Regular Foreign Investment Negative List?
- Sixth Regular Foreign Investment Negative List, Executive Order No. 389, Nov 30, 2004 (Philippines)
Law Information
- Reference Number
- Executive Order No. 389
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Executive Orders
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 30, 2004
EXECUTIVE ORDER NO. 389
PROMULGATING THE SIXTH REGULAR FOREIGN INVESTMENT NEGATIVE LIST
WHEREAS, Republic Act (RA) No. 7042 also known as the Foreign Investment 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 and has expired on 8 November 2004, pursuant to Section 8 of RA 7042, as amended, and its revised Implementing Rules and Regulations;
WHEREAS, there is a need to formulate a Sixth Regular Foreign Investment Negative List in view of the expiration of the existing list to reflect the changes to Lists A and B provided in specific laws;
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 or activities listed in Annex A hereof shall be reserved to Philippine nationals, and hereafter shall be referred to as the Sixth Regular Foreign Investment Negative List. The extent of foreign equity participation in these areas shall be limited to the percentages indicated in the List.
SECTION 2. Any amendment to List A may be made at any time to reflect changes instituted in specific laws while 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.
SECTION 3. All orders, issuances, rules and regulations or parts thereof, which are inconsistent with this Order are hereby revoked or modified accordingly. ScTCIE
SECTION 4. This Executive Order shall take effect 15 days after publication in a newspaper of general circulation.
DONE in the City of Manila, this 30th day of November, in the Year of Our Lord, Two Thousand and Four.
Cite This Law
Sixth Regular Foreign Investment Negative List, Executive Order No. 389, Nov 30, 2004 (Philippines)
Sixth Regular Foreign Investment Negative List, Executive Order No. 389 (Phil. 2004)
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