BY THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER NO. 858
PROMULGATING THE EIGHTH 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, there is a need to formulate the Eight Regular Foreign Investment Negative List, replacing the 7th Regular Foreign Investment Negative List, to reflect changes to List A and B, as recommended by concerned government agencies;
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 and/or activities listed in the Annex hereof shall be reserved to Philippine nationals, and hereafter shall be referred to as the Eight 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.
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 5th day of February, in the year of our Lord, Two Thousand and Ten.
(Sgd.) GLORIA MACAPAGAL-ARROYO
President of the Philippines
By the President:
(Sgd.) EDUARDO R. ERMITA
Source: Malacañang Records Office
Office of the President of the Philippines. (2010). [Executive Order Nos. : 831-910]. Manila : Malcañang Records Office.