PH urged to shorten 'negative' list for foreign investments

ABS-CBN News

Posted at Jul 18 2018 05:02 PM

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MANILA -- The Philippines must ease restrictions in foreign investments to attract more businessmen, the head of the European business lobby said on Wednesday.

Investors cannot simply come in and do business in the country because of restrictions in the foreign investment negative list, said Guenter Taus, president of the European Chamber of Commerce in the Philippines.

With the Senate set to tackle proposals to liberalize the negative list, Taus said he hoped lawmakers would heed the clamor of foreign businessmen seeking to invest in more sectors of the economy.

"We are hopeful that we finally shorten the list and see more foreign participation in the various aspects of the economy here," Taus told ANC's Market Edge.