Keeping foreign ownership cap to 'impact' investments: Euro chamber

MANILA - The playing field will remain uneven if the 40-percent cap on foreign ownership of business is retained under a federal Philippines, the head of a European business group said Tuesday.

"If it stays it will certainly impact the foreign investments and the FDI has been going down and down and down and partly attributed to the restrictions that we see," European Chamber of Commerce in the Philippines president Guenter Taus told ANC's Market Edge.