Latest Breaking News On - Manila the national economic and development authority neda welcomes issuance of executive order eo no 175 promulgating 12th regular foreign investment negative list rfinl on monday - Page 1 : comparemela.com
MANILA - The National Economic and Development Authority (NEDA) welcomes the issuance of Executive Order (EO) No. 175 promulgating the 12th Regular Foreign Investment Negative List (RFINL). On Monday, President Rodrigo R. Duterte issued the 12th RFINL, which provides details on foreign ownership limitations for key areas or activities, through EO No. 175. "We welcome the issuance of the 12th RFINL. The revised list is aligned with the recently passed amendments to the Public Service Act (PSA), Retail Trade Liberalization Act (RTLA), and Foreign Investments Act (FIA). It is also consistent with the policy to ease restrictions on foreign participation," Socioeconomic Planning Secretary Karl Kendrick Chua said in a statement Tuesday. The 12th RFINL reflects the full foreign ownership liberalization for telecommunications, domestic shipping, railways and subways, and air transport as provided under the amendments to the PSA. The revised list incorporates the amendments to the RTL