Bill Type
Congress Name
Long Title
AN ACT AMENDING REPUBLIC ACT NO. 7042, OTHERWISE KNOWN AS THE FOREIGN INVESTMENTS ACT OF 1991, AS AMENDED BY REPUBLIC ACT NO. 8179, AND FOR OTHER PURPOSES
Text as filed (link)
Date filed
September 9, 2019
Scope
Legislative History
| House Bill/Resolution NO. HB04457 |
| FULL TITLE : AN ACT AMENDING REPUBLIC ACT NO. 7042, OTHERWISE KNOWN AS THE FOREIGN INVESTMENTS ACT OF 1991, AS AMENDED BY REPUBLIC ACT NO. 8179, AND FOR OTHER PURPOSES |
| ABSTRACT : Intends to amend the current law in order to improve investment climate in the country, RECOGNIZING THAT GLOBAL AND REGIONAL ECONOMIES AFFECT THE PHILIPPINE ECONOMY.Proposes the promotion of productive foreign investments in activities which significantly contribute to SUSTAINABLE INCLUSIVE ECONOMIC GROWTH, PRODUCTIVITY, GLOBAL COMPETITIVENESS, EMPLOYMENT CREATION, TECHNOLOGICAL ADVANCEMENT, AND COUNTRYWIDE DEVELOPMENT to the extent that foreign investment is allowed in such activity by the Constitution and relevant laws. |
| PRINCIPAL AUTHOR/S : HARESCO, TEODORICO JR. T. |
| DATE FILED : 2019-09-09 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON ECONOMIC AFFAIRS ON 2019-09-12 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON TRADE AND INDUSTRY |
Abstract
Intends to amend the current law in order to improve investment climate in the country, RECOGNIZING THAT GLOBAL AND REGIONAL ECONOMIES AFFECT THE PHILIPPINE ECONOMY.Proposes the promotion of productive foreign investments in activities which significantly contribute to SUSTAINABLE INCLUSIVE ECONOMIC GROWTH, PRODUCTIVITY, GLOBAL COMPETITIVENESS, EMPLOYMENT CREATION, TECHNOLOGICAL ADVANCEMENT, AND COUNTRYWIDE DEVELOPMENT to the extent that foreign investment is allowed in such activity by the Constitution and relevant laws.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.