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(File photo) MANILA - Foreign businesses can now plan out their strategic investment programs in the Philippines after President Rodrigo Duterte signed the Republic Act (RA) 11647, amending the Foreign Investments Act. In a statement Monday, the German-Philippine Chamber of Commerce and Industry (GPCCI) has lauded the enactment of RA 11647 into law, which will help to facilitate more foreign investment in the country by allowing more equity for foreign investors. "The passage of this act is very timely as we are now opening up the economy. The restrictions lifted under the said amendments also address difficulties of foreign-owned SMEs (small and medium enterprises) and further introduce strategic investment programs that shall further promote the country as an attractive investment market," GPCCI executive director Christopher Zimmer said. GPCCI president Stefan Schmitz added that reducing investment areas reserved for Filipinos and allowing foreign businesses up to 100 perc

Christopher zimmerRodrigo duterteStefan schmitzGilbert gibo teodoroPhilippine chamberPresident rodrigo duterteRepublic actForeign investmentsGerman philippine chamberIle photo manila foreign businesses can now plan out their strategic investment programs in the philippines after president rodrigo duterte signed republic act ra 11647Mending the foreign investments act ina statement mondayHe german philippine chamber of commerce and industry gpcci has lauded the enactment ra 11647 into lawHich will help to facilitate more foreign investment in the country by allowing equity for investors quot passage of this act is very timely as we are now opening up economy restrictions lifted under said amendments also address difficulties owned smes small and medium enterprises further introduce strategic programs that shall promote an attractive marketUot gpcci executive director christopher zimmer said president stefan schmitz added that reducing investment areas reserved for filipinos and allowing foreign businesses up to 100 percent ownership when setting their operations here isa win move both filipino investors quot with these amendmentsOre foreign professionals can now share their skills with filipinos to enhance local and international competitiveness in various sectors at the same timeT would also help generate more employment in the country as law enables foreign investments that expand philippine job market