Bill Type
Short Title
AMENDING SECTIONS 4 AND 8, FOREIGN INVESTMENTS ACT OF 1991
Text as Filed (File)
Text as filed (link)
Third Reading Copy link (HRep)
Scope
Legislative Status
Legislative Status Date
Session Sequence No.
21
Session Type
Subjects
Document Certification
All Information (Senate Website)
Legislative History (Senate Website)
Committee Report Senate Link
Committee Referral (Senate Website)
Floor Activity (Senate Website)
Committee Details
House Committee Report link
Legislative History
| House Bill/Resolution NO. HB00300 | ||
| FULL TITLE : AN ACT AMENDING SECTIONS 4 AND 8 OF REPUBLIC ACT NO. 7042, AS AMENDED, OTHERWISE KNOWN AS THE "FOREIGN INVESTMENT ACT OF 1991" | ||
| SHORT TITLE : Further Promoting The Entry Of Foreign Direct Investments In The Country By Amending Sections 4 And 8 Of Republic Act No. 7042, As Amended, Otherwise Known As The " Foreign Investments Act Of 1991" | ||
| ABSTRACT : Aims to exclude the "practice of professions" from the coverage of the Foreign Investments Act (FIA) so as to attract foreign professionals to practice in the Philippines wherein they would be able to bring in technology and know-how from abroad and attract foreign direct investments, and help generate more employment opportunities in the country. | ||
| PRINCIPAL AUTHOR/S : YAP, VICTOR A., VILLAFUERTE, LUIS RAYMUND "LRAY" JR F., SALCEDA, JOEY SARTE, GARIN, SHARON S., GATCHALIAN, WESLIE T., NOGRALES, JERICHO JONAS B., SUANSING, ESTRELLITA B., DEFENSOR, LORENZ R., GO, MARK O., BABASA, LEONARDO JR. L., BIAZON, RUFFY B., SANGCOPAN, AMIHILDA J., AGLIPAY, MICHAEL EDGAR Y., BAGATSING, CRISTAL L., CUEVA, LEO RAFAEL M. | ||
| DATE FILED : 2019-07-01 | ||
| SIGNIFICANCE: NATIONAL | ||
| CO-AUTHORS (Journal Entries) : | ||
| 1. Tan (A.) (000 2020-12-02) | ||
| AUTHORS(Committee Report) : | ||
| 1. Yap (V.) | 2. Villafuerte | 3. Salceda |
| 4. Garin (S.) | 5. Gatchalian | 6. Nograles (J.J.) |
| 7. Suansing (E.) | 8. Defensor (L.) | 9. Go (M.) |
| 10. Babasa | 11. Biazon | 12. Sangcopan |
| 13. Aglipay | 14. Bagatsing | 15. Cueva |
| AUTHORS(Final/Third Reading) : | ||
| 1. Yap (V.) | 2. Villafuerte | |
| 3. Salceda | 4. Garin (S.) | |
| 5. Gatchalian | 6. Nograles (J.J.) | |
| 7. Suansing (E.) | 8. Defensor (L.) | |
| 9. Go (M.) | 10. Babasa | |
| 11. Biazon | 12. Sangcopan | |
| 13. Aglipay | 14. Bagatsing | |
| 15. Cueva | 16. Cabredo | |
| 17. Jalosjos | 18. Siao | |
| 19. Albano (A.) | 20. Rodriguez | |
| COUNTERPART HOUSE BILL/CONCURRENT RESOLUTION: SB01156 | ||
| URGENT SENATE BILL? Yes | ||
| DATE CERTIFIED AS URGENT HOUSE BILL: 2021-04-12 | ||
| ACTIONS TAKEN BY THE COMMITTEE | ||
| COMMITTEE REPORT NO. 00003 | ||
| SUBMITTED ON 2019-08-28 | ||
| SUBMITTED BY: ECONOMIC AFFAIRS, TRADE AND INDUSTRY | ||
| RECOMMENDATIONS: Approval in consolidation with House Bills Numbered 399 and 1221 | ||
| COMMITTEE REPORT AUTHORS : YAP, VICTOR A., VILLAFUERTE, LUIS RAYMUND "LRAY" JR F., SALCEDA, JOEY SARTE, GARIN, SHARON S., GATCHALIAN, WESLIE T., NOGRALES, JERICHO JONAS B., SUANSING, ESTRELLITA B., DEFENSOR, LORENZ R., GO, MARK O., BABASA, LEONARDO JR. L., BIAZON, RUFFY B., SANGCOPAN, AMIHILDA J., AGLIPAY, MICHAEL EDGAR Y., BAGATSING, CRISTAL L., CUEVA, LEO RAFAEL M. | ||
| CONSOLIDATED BILLS: HB00399, HB01221 | ||
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | ||
| REFERRAL TO THE COMMITTEE ON ECONOMIC AFFAIRS ON 2019-07-23 | ||
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON TRADE AND INDUSTRY | ||
| DATE INCLUDED IN OB: 2019-08-28 | ||
| DATE CALENDARED : 2019-09-03 | ||
| SECOND READING INFORMATION | ||
| PERIOD OF SPONSORSHIP : 2019-09-03, 2019-09-04 | ||
| SPONSORED BY : Garin (S.);Rodriguez;Tan (A.S.);Gatchalian;Garin (S.);Yap (V.) | ||
| PERIOD OF INTERPELLATIONS : 2019-09-04 | ||
| INTERPELLATED BY : Castro (F.L.), Quimbo | ||
| DATE SPONSORSHIP/DEBATE CLOSED: 2019-09-04 | ||
| PERIOD OF INDIVIDUAL AMENDMENTS : 2019-09-04 | ||
| AMENDED BY : Yap (V.) | ||
| FINAL LIST OF AUTHORS : Yap (V.), Villafuerte, Salceda, Garin (S.), Gatchalian, Nograles (J.J.), Suansing (E.), Defensor (L.), Go (M.), Babasa, Biazon, Sangcopan, Aglipay, Bagatsing, Cueva, Cabredo, Jalosjos, Siao, Albano (A.), Rodriguez | ||
| DATE APPROVED ON SECOND READING : 2019-09-04 | ||
| REMARKS : Sponsorship speech of Hon. Gatchalian be inserted into the records (Sept. 3, 2019) | ||
| THIRD READING INFORMATION | ||
| DATE COPY DISTRIBUTED TO MEMBERS: 2019-09-05 | ||
| DATE APPROVED BY THE HOUSE ON THIRD READING :2019-09-09 | ||
| THIRD READING TITLE : AN ACT FURTHER PROMOTING THE ENTRY OF FOREIGN DIRECT INVESTMENTS IN THE COUNTRY BY AMENDING SECTIONS 4 AND 8 OF REPUBLIC ACT NO. 7042, AS AMENDED, OTHERWISE KNOWN AS THE "FOREIGN INVESTMENTS ACT OF 1991" | ||
| HOUSE VOTES: YEAS:201 NAYS:6 ABSTAIN:.7 | ||
| Voting Details Per Member(Legend:Y-Yes N-No A-Abstain X-Did Not Vote B-Absent D-N/A) | ||
| X---Abante | X---Abaya | |
| Y---Abellanosa | X---Abu | |
| Y---Abueg-Zaldivar | B---Abunda--(Absent) | |
| Y---Acop | Y---Acosta | |
| B---Acosta-Alba--(Absent) | B---Adiong--(Absent) | |
| X---Advincula | X---Agabas | |
| X---Agarao | Y---Aglipay | |
| Y---Albano (A.) | B---Albano (R.)--(Absent) | |
| X---Vargas Alfonso | X---Almario | |
| B---Alonte--(Absent) | Y---Alvarez (F.) | |
| X---Alvarez (G.) | Y---Alvarez (P.) | |
| Y---Amante-Matba | Y---Amatong | |
| B---Andaya--(Absent) | Y---Angara | |
| X---Aragones | B---Arbison--(Absent) | |
| Y---Arenas | Y---Macapagal Arroyo | |
| Y---Arroyo | A---Atienza | |
| B---Aumentado--(Absent) | Y---Babasa | |
| Y---Bagatsing | B---Bainto-Aguinaldo--(Absent) | |
| Y---Balindong | D---Bañas-Nograles--(N/A) | |
| Y---Barba | B---Barbers--(Absent) | |
| Y---Baronda | Y---Barzaga | |
| Y---Bascug | X---Bautista | |
| Y---Bautista-Bandigan | Y---Belmonte | |
| Y---Benitez | Y---Bernos | |
| Y---Biazon | Y---Billones | |
| Y---Biron | Y---Bolilia | |
| Y---Bondoc | A---Bordado | |
| Y---Bravo | N---Brosas | |
| Y---Bulut | Y---Bustos | |
| Y---Cabatbat | A---Cabochan | |
| Y---Cabredo | X---Cagas | |
| Y---Calderon | Y---Calixto | |
| Y---Caminero | Y---Campos | |
| Y---Canama | Y---Caoagdan | |
| D---Cardema--(N/A) | Y---Cari | |
| Y---Castelo | N---Castro (F.L.) | |
| Y---Castro (F.H.) | X---Cayetano (A.P.) | |
| X---Cayetano (M.L.) | Y---Celeste | |
| Y---Chatto | Y---Chipeco | |
| Y---Chungalao | Y---Co (A.N.) | |
| X---Co (E.) | B---Cojuangco--(Absent) | |
| Y---Collantes | Y---Crisologo | |
| Y---Cua | Y---Cuaresma | |
| B---Cueva--(Absent) | N---Cullamat | |
| Y---Dagooc | Y---Dalipe | |
| Y---Dalog | D---Datol--(N/A) | |
| Y---Ruiz Daza | Y---De Jesus | |
| Y---De Venecia | Y---Defensor (L.) | |
| Y---Defensor (M.) | Y---Del Mar | |
| B---Delos Santos--(Absent) | Y---Deloso-Montalla | |
| X---Dimaporo (A.) | X---Dimaporo (M.K.) | |
| Y---Duavit | Y---Dujali | |
| X---Duterte | Y---Dy (F.M.C.) | |
| B---Dy (F.)--(Absent) | B---Dy (I.P.)--(Absent) | |
| Y---Ebcas | Y---Ecleo | |
| N---Elago | B---Enverga--(Absent) | |
| B---Erice--(Absent) | Y---Eriguel | |
| Y---Ermita-Buhain | Y---Escudero | |
| Y---Espina | Y---Espino | |
| Y---Estrella | Y---Fariñas (R.C.) | |
| Y---Fariñas I (R.C.) | Y---Fernandez | |
| B---Fernando--(Absent) | Y---Ferrer (J.M.) | |
| X---Ferrer (L.) | Y---Flores | |
| Y---Fongwan | B---Fortun--(Absent) | |
| Y---Fortuno | Y---Frasco | |
| Y---Fuentebella | N---Gaite | |
| X---Garbin | X---Garcia (J.E.) | |
| Y---Garcia (P.J.) | Y---Garcia (V.) | |
| Y---Garin (J.) | Y---Garin (S.) | |
| Y---Gasataya | B---Gatchalian--(Absent) | |
| Y---Gato | Y---Geron | |
| Y---Go (E.C.) | Y---Go (M.) | |
| B---Torres-Gomez--(Absent) | Y---Gonzaga | |
| Y---Gonzales (A.) | X---Gonzales (N.) | |
| Y---Gonzalez | Y---Gorriceta | |
| Y---Guico | X---Gullas | |
| Y---Guya | Y---Haresco | |
| Y---Hataman | X---Hernandez | |
| Y---Herrera-Dy | X---Hofer | |
| Y---Jalosjos | Y---Javier | |
| Y---Jimenez | Y---Kho (E.) | |
| Y---Kho (W.) | Y---Khonghun | |
| Y---Labadlabad | Y---Lacson | |
| Y---Lacson-Noel | A---Lagman | |
| Y---Lagon | Y---Lara | |
| Y---Lazatin | X---Leachon | |
| Y---Legarda | Y---Lim | |
| Y---Limkaichong | Y---Lopez (M.L.) | |
| Y---Loyola | D---Lusotan--(N/A) | |
| Y---Maceda | B---Madrona--(Absent) | |
| Y---Malapitan | Y---Mangaoang | |
| Y---Mangudadatu | Y---Marcoleta | |
| Y---Mariano-Hernandez | Y---Mariño | |
| Y---Marquez | B---Martinez--(Absent) | |
| B---Matba--(Absent) | Y---Matugas | |
| B---Mendoza--(Absent) | D---Mercado--(N/A) | |
| Y---Momo | Y---Natividad-Nagaño | |
| B---Nava--(Absent) | Y---Nieto | |
| Y---Noel | Y---Nograles (J.J.) | |
| Y---Nograles (J.F.F.) | Y---Nolasco | |
| Y---Nuñez-Malanyaon | Y---Oaminal | |
| Y---Olivarez | X---Ong (J.) | |
| Y---Ong (R.) | D---Ordanes--(N/A) | |
| Y---Ortega | B---Ouano-Dizon--(Absent) | |
| Y---Pacquiao (A.) | Y---Pacquiao (R.) | |
| Y---Padiernos | X---Paduano | |
| Y---Palma | X---Pancho | |
| Y---Panotes | Y---Peña | |
| Y---Pichay | X---Pimentel | |
| Y---Pineda | A---Plaza | |
| Y---Puno | Y---Quimbo | |
| Y---Radaza | X---Ramirez-Sato | |
| Y---Ramos | Y---Remulla | |
| Y---Revilla | Y---Reyes | |
| Y---Rivera | X---Robes | |
| Y---Rodriguez | B---Roman--(Absent) | |
| X---Romero | Y---Romualdez (F.M.) | |
| Y---Romualdez (Y.M.) | Y---Romualdo | |
| Y---Romulo | A---Roque | |
| Y---Sacdalan | Y---Sagarbarria | |
| B---Sakaluran--(Absent) | Y---Salceda | |
| Y---Salimbangon | Y---Salo | |
| Y---Salvador-Tambunting | Y---Sanchez | |
| B---Sangcopan--(Absent) | B---Santos-Recto--(Absent) | |
| Y---Sarmiento | Y---Saulog | |
| Y---Savellano | X---Siao | |
| Y---Silverio | Y---Singson | |
| Y---Singson-Meehan | B---Sinsuat--(Absent) | |
| Y---Suansing (E.) | Y---Suansing (H.) | |
| X---Suarez (A.) | Y---Suarez (D.) | |
| Y---Suntay | X---Sy-Alvarado | |
| Y---Taduran | Y---Tallado | |
| X---Tan (A.S.) | B---Tan (A.)--(Absent) | |
| B---Tan (S.)--(Absent) | X---Tan (S.A.) | |
| B---Tan-Tambut--(Absent) | Y---Tejada | |
| B---Teves (A.)--(Absent) | B---Teves (J.)--(Absent) | |
| Y---Tiangco | Y---Tolentino | |
| Y---Tulfo | B---Tupas--(Absent) | |
| Y---Tutor | D---Ty (A.)--(N/A) | |
| B---Ty (D.)--(Absent) | Y---Umali (A.) | |
| Y---Umali (M.V.) | B---Unabia--(Absent) | |
| X---Ungab | Y---Uy (J.) | |
| Y---Uy (R.) | Y---Valeriano | |
| Y---Valmayor | Y---Vargas | |
| X---Velasco | Y---Veloso | |
| Y---Vergara | Y---Villa | |
| B---Villafuerte--(Absent) | B---Villanueva (E.)--(Absent) | |
| Y---Villanueva (N.) | Y---Villar | |
| B---Villaraza-Suarez--(Absent) | Y---Villarica | |
| Y---Violago | Y---Yap (E.) | |
| B---Yap (V.)--(Absent) | X---Yu | |
| Y---Zamora (R.) | Y---Zamora (W.K.) | |
| N---Zarate | A---Zubiri | |
| DATE TRANSMITTED TO THE SENATE: 2019-09-10 | ||
| ACTIONS TAKEN BY THE SENATE/HOUSE | ||
| DATE RECEIVED BY THE SENATE: 2019-09-10 | ||
| CONFERENCE COMMITTEE INFORMATION | ||
| DATE REQUESTED TO FORM A CONFERENCE COMMITTEE : 2021-09-15 | ||
| CONFERENCE COMMITTEEE REQUESTED BY : SENATE | ||
| DATE CC REQUEST RECEIVED BY THE SENATE : 2021-11-09 | ||
| DATE AGREED TO FORM A CONFERENCE COMMITTEE : 2021-11-08 | ||
| REMARKS : | ||
| CONCOM MEMBERS(HOUSE) : Garin (S.), Tiangco, Yap (V.), Vergara, Gatchalian, Romualdo, Quimbo | ||
| CONCOM MEMBERS(SENATE) : Marcos, Gatchalian, Villanueva, Dela Rosa, Drilon | ||
| DATE HOUSE RATIFIED CONCOM REPORT : 2021-12-07 | ||
| DATE CC MESSAGE RECEIVED BY THE SENATE : 2021-12-09 | ||
| DATE SENATE APPROVED CONCOM REPORT : 2021-12-07 | ||
| DATE CC MESSAGE RECEIVED BY THE HOUSE : 2021-12-14 | ||
| DATE COPIES OF ENROLLED BILL RECEIVED BY THE SENATE : 2022-01-25 | ||
| DATE SIGNED COPIES OF ENROLLED BILL RECEIVED BY THE HOUSE : 2022-01-27 | ||
| ACTIONS TAKEN BY THE PRESIDENT | ||
| DATE TRANSMITTED TO THE PRESIDENT : 2022-01-31 |
Senate Legislative History
Entitled: AN ACT FURTHER PROMOTING THE ENTRY OF FOREIGN DIRECT INVESTMENTS IN THE COUNTRY BY AMENDING SECTIONS 4 AND 8 OF REPUBLIC ACT NO. 7042, AS AMENDED, OTHERWISE KNOWN AS THE FOREIGN INVESTMENTS ACT OF 1991 [ FIRST REGULAR SESSION, 18TH CONGRESS ] [ 2019 ] Introduced by Representatives VICTOR A. YAP, LUIS RAYMUND JR. F. VILLAFUERTE, JOEY SARTE SALCEDA, SHARON S. GARIN et al.; Approved on Third Reading by the House of Representatives on September 09, 2019; 9/10/2019 Sent to the Senate requesting for concurrence; 9/11/2019 Read on First Reading and Referred to the Committee on ECONOMIC AFFAIRS; 11/7/2019 Returned jointly by the Committee(s) on ECONOMIC AFFAIRS and FINANCE per Committee Report No. 20, recommending that it be considered in SBN-1156; 11/11/2019 Committee Report Calendared for Ordinary Business; 11/11/2019 CONSIDERED IN SBN-1156 UNDER COMMITTEE REPORT NO. 20. [ THIRD REGULAR SESSION ] [ 2021 ] 9/15/2021 Senate requested the House of Representatives for a conference on the disagreeing provisions of SBN-1156 and HBN-300, designating Senators Marcos, Gatchalian, Villanueva, Dela Rosa and Drilon as its conferees; 11/22/2021 House of Representatives designated Representatives Garin, Tiangco, Yap, Vergara, Gatchalian, Romualdo and Quimbo as conferees to the Bicameral Conference Committee on the disagreeing provisions of HBN-300 and SBN-1156 on November 8, 2021; 12/6/2021 Conference Committee Report on the disagreeing provisions of SBN-1956 and HBN-300, submitted to the Senate, recommending that HBN-300, in consolidation with SBN-1156, be approved in accordance with the attached copy of the bill as reconciled and approved by the conferees; 12/7/2021 Sponsorship speech of Senator IMEE R. MARCOS on the conference committee report; 12/7/2021 Co-sponsorship speech of Senator JOEL VILLANUEVA on the conference committee report; 12/7/2021 Conference Committee Report Approved by the Senate; 12/13/2021 Conference Committee Report Approved by the House of Representatives on December 7, 2021; [ 2022 ] 1/25/2022 Letter from Secretary General Mark Llandro L. Mendoza, transmitting nine (9) enrolled copies of the consolidated version of HBN-300 and SBN-1156, for the signature of Senate Secretary Myra Marie D. Villarica and Senate President Vicente C. Sotto III; 1/26/2022 Letter for Speaker Lord Allan Jay Q. Velasco, returning eight (8) enrolled copies of the consolidated version of HBN-300 and SBN-1156, which were signed by Senate Secretary Myra Marie D. Villarica and Senate President Vicente C. Sotto III; FINAL TITLE: AN ACT PROMOTING FOREIGN INVESTMENTS, AMENDING THEREBY REPUBLIC ACT NO. 7042 OTHERWISE KNOWN AS THE FOREIGN INVESTMENT ACT OF 1991, AS AMENDED, AND FOR OTHER PURPOSES 3/8/2022 Approved and signed into law, in consolidation with SBN-1156, by the President of the Philippines, His Excellency, President Rodrigo Roa Duterte on March 2, 2022 and became 3/8/2022 REPUBLIC ACT NO. 11647.
Abstract
Aims to exclude the "practice of professions" from the coverage of the Foreign Investments Act (FIA) so as to attract foreign professionals to practice in the Philippines wherein they would be able to bring in technology and know-how from abroad and attract foreign direct investments, and help generate more employment opportunities in the country.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.