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Article (news)

PH ECONOMY

Harlene Delgado

ABS-CBN News

MANILA -- President Ferdinand Marcos Jr. has released the 13th Regular Foreign Investment Negative List through an executive order, which covers investment areas or activities that are open to foreign investors and/or reserved for Philippine nationals.Executive Order 113 states that the Department of Economy, Planning and Development (DEPDev) saw the need to amend the previous list ‘pursuant to existing laws and consistent with the policy to ease restrictions on foreign participation in certain investment areas or activities’.Under List A, foreign equity remains prohibited for mass media (except recording and internet business), corporate practice of profession in architecture, cooperatives (except investments of former natural-born citizens), and private security agencies.Small-scale mining; utilization of marine resources in archipelagic waters, territorial sea, and exclusive economic zone and small-scale utilization of natural water resources; ownership, operation, and management of cockpits, manufacture, repair, stockpiling, and/or distribution of nuclear weapons and biological, chemical and radiological weapons and anti-personnel mines; and manufacture and retail of firecrackers and other pyrotechnic devices are also reserved for Filipino ownership.<div><a href="https://www.abs-cbn.com/news/business/2026/2/10/fdi-net-inflows-reach-897-million-in-november-1448" rel="noopener noreferrer" target="_blank">FDI net inflows reach $897 million in November</a></div>Meanwhile, private recruitment, whether for local or overseas employment and contracts for the construction of defense-related structures are allowed up to 25 percent foreign equity, while advertising remains allowed for up to 30 percent foreign equity.Retail trade enterprises with paid-up capital of less than P25 million is now allowed up to 40 percent foreign equity.Also allowed up to 40 percent foreign equity are the exploration, development, and utilization of natural resources, including the appropriation of water direct from a natural source except agreements entered into with the President, involving either technical or financial assistance for large-scale exploration, development, and utilization of minerals, petroleum and other mineral oils and renewable energy, such as solar wind, hydro and ocean or tidal energy “where full foreign participation is allowed.”Government procurement of goods, consulting services, and infrastructure projects is also allowed up to 40 percent foreign equity.However, in cases where the structures to be built require the application of techniques or technologies that are not adequately possessed by Filipino entities, foreign ownership or interest is allowed up to 75 percent, according to the order.Meanwhile, 100 percent foreign equity is allowed on operation and management of telecommunications “in case the country of the foreign national accords reciprocity to Philippine nationals, and up to 50 percent foreign equity in the absence of such reciprocity”.Under List B, which regulates foreign ownership for reasons of security, defense, risk to health and morals, and protection of small and medium-scale enterprises, up to 40 percent foreign equity now applies to the development, production, manufacturing, assembly, servicing or operation of materiel by an in-country enterprise.Also allowed under the same foreign equity are the previously listed manufacture, repair, storage, and distribution of products or ingredients requiring clearance from the Philippine National Police; distribution and manufacture of dangerous drugs as authorized by law; and sauna and steam bathhouses, massage clinics, and other like activities regulated by law because of risks posed to public health and morals.All forms of gambling and micro and small domestic market enterprises with paid-in equity capital of less than the equivalent of $200,000 and that involve advanced technology as determined by the Department of Science and Technology (DOST); endorsed as startup or startup enablers by the lead host agencies Department of Trade and Industry, Department of Information and Communications Technology, and DOST or with a majority of their direct employees are Filipinos, with paid-in equity capital of less than the equivalent of $100,000 are also allowed up to 40 percent foreign equity.

Here are the businesses that foreigners may fully or partially own in the Philippines.

Here are the businesses that foreigners may fully or partially own in the Philippines.

Marcos signs amended Foreign Investment Negative List, easing foreign investment restrictions

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Marcos signs amended Foreign Investment Negative List, easing foreign investment restrictions

Harlene Delgado,

ABS-CBN News

Published April 16, 2026 04:23 PM PHT

Read More:

foreign investment negative list

foreign ownership

ease of business

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