REPUBLIC Act (RA) 11647, which amended the Foreign Investments Act of 1991, was finally signed into law last March 2. It introduced some significant changes aimed at easing restrictions on foreign investments to help stimulate economic growth amid the continued impact of the Covid-19 pandemic
The influx of foreign investments plays a major contributing factor in the country's economic growth. As stated in RA 7042, the "Foreign Investments Act of 1991" (FIA), it is the policy of the state to attract, promote and welcome productive investments in activities that significantly contribute to national industrialization and socioeconomic development to the extent that foreign investment is allowed by the Constitution and relevant laws.
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