Bill Type
Short Title
FOREIGN INVESTMENT ACT
Text as Filed (File)
Third Reading Copy link (HRep)
Scope
Legislative Status
Legislative Status Date
Session Sequence No.
45
Session Type
Document Certification
All Information (Senate Website)
Legislative History (Senate Website)
Committee Referral (Senate Website)
Committee Details
House Committee Report link
Legislative History
| House Bill/Resolution NO. HB08764 | |
| FULL TITLE : AN ACT AMENDING SECTIONS 4 AND 8 OF REPUBLIC ACT NO. 7042, AS AMENDED, OTHERWISE KNOWN AS THE "FOREIGN INVESTMENTS ACT OF 1991" | |
| SHORT TITLE : Amending Sections 4 And 8 Of Republic Act No. 7042, As Amended, Otherwise Known As The " Foreign Investments Act Of 1991" | |
| ABSTRACT : Seeks to amend R.A. 7042 by deleting the provisions relating to the "practice of professions" from among the items listed under the Foreign Investment Negative List (FINL), and by lowering the threshold of employment requirement to 15 direct employees for a US $100,000 foreign investment in small and medium-sized domestic market industries. | |
| PRINCIPAL AUTHOR/S : YAP, ARTHUR C., GATCHALIAN, WES, SALO, RON P., LIMKAICHONG, JOCELYN SY, GARCIA, GWENDOLYN F., BIRON, FERJENEL G. M.D. | |
| DATE FILED : 2018-12-11 | |
| SIGNIFICANCE: NATIONAL | |
| AUTHORS(Final/Third Reading) : | |
| 1. Yap (A.) | 2. Gatchalian |
| 3. Salo | 4. Limkaichong |
| 5. Garcia (G.) | 6. Biron |
| 7. Lee | 8. Sarmiento (C.) |
| 9. Savellano | 10. Tambunting |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITEE HEARINGS/ACTIONS: | |
| 1. Committee Report filed on 2018-12-12 | |
| COMMITTEE REPORT NO. 01021 | |
| SUBMITTED ON 2018-12-11 | |
| SUBMITTED BY: ECONOMIC AFFAIRS, TRADE AND INDUSTRY | |
| RECOMMENDATIONS: approval in substitution of House Bill No. 4067 | |
| SUBSTITUTED BILLS: HB04067 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON RULES ON 2018-12-11 | |
| DATE INCLUDED IN OB: 2018-12-11 | |
| DATE CALENDARED : 2018-12-11 | |
| SECOND READING INFORMATION | |
| PERIOD OF SPONSORSHIP : 2018-12-12 | |
| SPONSORED BY : Yap (A.) | |
| DATE SPONSORSHIP/DEBATE CLOSED: 2018-12-12 | |
| FINAL LIST OF AUTHORS : Yap (A.), Gatchalian, Salo, Limkaichong, Garcia (G.), Biron, Lee, Sarmiento (C.), Savellano, Tambunting | |
| DATE APPROVED ON SECOND READING : 2018-12-12 | |
| THIRD READING INFORMATION | |
| DATE COPY DISTRIBUTED TO MEMBERS: 2019-01-09 | |
| DATE APPROVED BY THE HOUSE ON THIRD READING :2019-01-14 | |
| HOUSE VOTES: YEAS:201 NAYS:7 ABSTAIN:.0 | |
| Voting Details Per Member(Legend:Y-Yes N-No A-Abstain X-Did Not Vote B-Absent D-N/A) | |
| D---Abad--(N/A) | Y---Abaya |
| Y---Abayon | Y---Abellanosa |
| Y---Abu | Y---Abueg |
| B---Acharon--(Absent) | Y---Acop |
| B---Acosta--(Absent) | B---Acosta-Alba--(Absent) |
| B---Adiong--(Absent) | Y---Advincula |
| Y---Agarao | Y---Aggabao |
| D---Aglipay-Villar--(N/A) | D---Akbar--(N/A) |
| Y---Albano | Y---Alcala |
| Y---Alejano | Y---Almario |
| Y---Almonte | B---Alonte--(Absent) |
| Y---Alvarez (F.) | Y---Alvarez (M.) |
| B---Alvarez (P.)--(Absent) | B---Amante--(Absent) |
| B---Amatong (I.)--(Absent) | Y---Andaya |
| D---Ang--(N/A) | Y---Angara-Castillo |
| B---Antonino--(Absent) | Y---Antonio |
| Y---Aragones | B---Arbison--(Absent) |
| B---Arcillas--(Absent) | Y---Arenas |
| Y---Atienza | B---Aumentado--(Absent) |
| Y---Bag-ao | Y---Bagatsing |
| B---Baguilat--(Absent) | Y---Banal |
| B---Barbers--(Absent) | B---Barzaga--(Absent) |
| Y---Bataoil | D---Batocabe--(N/A) |
| X---Bautista-Bandigan | Y---Belaro |
| X---Belmonte (F.) | Y---Belmonte (J.C.) |
| B---Belmonte (R.)--(Absent) | B---Benitez--(Absent) |
| B---Bernos--(Absent) | Y---Bertiz |
| Y---Biazon | Y---Billones |
| B---Biron--(Absent) | Y---Bolilia |
| Y---Bondoc | Y---Bordado |
| Y---Bravo (A.) | Y---Bravo (M.) |
| N---Brosas | Y---Bulut-Begtang |
| Y---Cagas | D---Calalang--(N/A) |
| Y---Calderon | Y---Calixto-Rubiano |
| Y---Caminero | Y---Campos |
| Y---Canama | B---Cari--(Absent) |
| N---Casilao | X---Castelo |
| N---Castro (F.L.) | Y---Castro (F.H.) |
| Y---Catamco | B---Cayetano--(Absent) |
| Y---Celeste | Y---Cerafica |
| Y---Cerilles Enerio | B---Chavez--(Absent) |
| Y---Chipeco | Y---Co |
| Y---Cojuangco | Y---Collantes |
| Y---Cortes | Y---Cortuna |
| Y---Cosalan | Y---Crisologo |
| Y---Cua | Y---Cuaresma |
| Y---Cueva | Y---Dalipe |
| D---Dalog--(N/A) | Y---Datol |
| Y---Daza | N---De Jesus |
| B---De Venecia--(Absent) | D---De Vera--(N/A) |
| B---Defensor--(Absent) | Y---Del Mar |
| B---Del Rosario--(Absent) | Y---Deloso-Montalla |
| Y---Dimaporo (A.) | Y---Dimaporo (M.K.) |
| B---Duavit--(Absent) | Y---Durano |
| Y---Dy | N---Elago |
| Y---Enverga | Y---Erice |
| B---Eriguel--(Absent) | Y---Ermita-Buhain |
| Y---Escudero | Y---Espina |
| Y---Espino | X---Estrella |
| Y---Eusebio | Y---Evardone |
| B---Fariñas--(Absent) | Y---Fernando |
| Y---Ferrer J. | Y---Ferrer L. |
| Y---Ferriol-Pascual | Y---Floirendo |
| Y---Flores | Y---Fortun |
| Y---Fortuno | B---Fuentebella--(Absent) |
| Y---Garbin | Y---Garces |
| B---Garcia (G.)--(Absent) | Y---Garcia (J.E.) |
| B---Garcia-Albano--(Absent) | B---Garin (O.)--(Absent) |
| Y---Garin (S.) | Y---Gasataya |
| Y---Gatchalian | Y---Geron |
| Y---Go (A.C.) | Y---Go (M.) |
| B---Gomez--(Absent) | B---Gonzaga--(Absent) |
| X---Gonzales (A.P.) | Y---Gonzales (A.D.) |
| Y---Gonzalez | B---Gorriceta--(Absent) |
| Y---Gullas | X---Hernandez (F.) |
| Y---Hernandez (P.) | X---Herrera-Dy |
| B---Hofer--(Absent) | X---Jalosjos |
| B---Javier--(Absent) | Y---Kho |
| B---Khonghun--(Absent) | Y---Labadlabad |
| Y---Lacson | Y---Lagman |
| Y---Lanete | Y---Laogan |
| Y---Lazatin | B---Leachon--(Absent) |
| Y---Lee | X---Limkaichong |
| B---Lobregat--(Absent) | B---Lopez (B.)--(Absent) |
| Y---Lopez (C.) | Y---Lopez (M.L.) |
| X---Loyola | Y---Macapagal Arroyo |
| Y---Maceda | Y---Madrona |
| Y---Aquino-Magsaysay | X---Nuñez-Malanyaon |
| X---Malapitan | Y---Manalo |
| Y---Mangaoang | Y---Mangudadatu (S.) |
| Y---Mangudadatu (Z.) | Y---Marcoleta |
| Y---Marcos | Y---Mariño |
| Y---Marquez | B---Martinez--(Absent) |
| Y---Matugas | B---Mellana--(Absent) |
| B---Mending--(Absent) | Y---Mendoza |
| B---Mercado--(Absent) | B---Mirasol--(Absent) |
| X---Montoro | B---Nava--(Absent) |
| Y---Nieto | Y---Noel |
| Y---Nograles (J.J.) | D---Nograles (K.A.)--(N/A) |
| Y---Nolasco | Y---Oaminal |
| Y---Ocampo | Y---Olivarez |
| Y---Ong (H.) | B---Ong (E.)--(Absent) |
| Y---Ortega (P.) | X---Ortega (V.N.) |
| B---Pacquiao--(Absent) | Y---Paduano |
| Y---Palma | Y---Pancho |
| Y---Panganiban | Y---Panotes |
| Y---Papandayan | Y---Pichay |
| Y---Pico | Y---Pimentel |
| Y---Pineda | X---Plaza |
| Y---Primicias-Agabas | Y---Roa-Puno |
| Y---Quimbo | Y---Radaza |
| Y---Ramirez-Sato | Y---Ramos |
| Y---Relampagos | X---Revilla |
| Y---Robes | B---Rocamora--(Absent) |
| Y---Rodriguez (I.) | Y---Rodriguez (M.) |
| B---Roman--(Absent) | Y---Romero |
| Y---Romualdez | Y---Romualdo |
| D---Roque (H.)--(N/A) | Y---Roque (R.N.) |
| Y---Sacdalan | B---Sagarbarria--(Absent) |
| B---Sahali--(Absent) | B---Salceda--(Absent) |
| X---Salimbangon | Y---Salo |
| Y---Salon | Y---Sambar |
| X---Sandoval | Y---Sangcopan |
| Y---Santos-Recto | Y---Sarmiento (C.) |
| Y---Sarmiento (E.M.) | Y---Savellano |
| Y---Sema | X---Siao |
| Y---Silverio | Y---Singson (E.) |
| Y---Suansing (E.) | Y---Suansing (H.) |
| Y---Suarez | Y---Sy-Alvarado |
| Y---Tambunting | Y---Tan (A.) |
| B---Tan (M.)--(Absent) | B---Tan (S.)--(Absent) |
| Y---Tejada | Y---Teves |
| B---Tiangco--(Absent) | Y---Ting |
| N---Tinio | Y---Tolentino |
| X---Treñas | Y---Tugna |
| Y---Tupas | D---Turabin-Hataman--(N/A) |
| Y---Ty | B---Umali--(Absent) |
| Y---Unabia | Y---Ungab |
| Y---Unico | Y---Uy (J.) |
| Y---Uy (R.) | Y---Uybarreta |
| Y---Vargas | B---Vargas-Alfonso--(Absent) |
| Y---Velarde | Y---Velasco, L.A. |
| Y---Velasco-Catera | Y---Veloso |
| Y---Vergara | B---Villafuerte--(Absent) |
| Y---Villanueva | D---Villar--(N/A) |
| B---Villaraza-Suarez--(Absent) | Y---Villarica |
| Y---Villarin | Y---Violago |
| Y---Yap (A.) | Y---Yap (M.) |
| Y---Yap (V.) | Y---Yu |
| B---Zamora (M.C.)--(Absent) | Y---Zamora (R.) |
| N---Zarate | Y---Zubiri |
| DATE TRANSMITTED TO THE SENATE: 2019-01-15 | |
| ACTIONS TAKEN BY THE SENATE/HOUSE | |
| DATE RECEIVED BY THE SENATE: 2019-01-15 | |
| REMARKS : |
Senate Legislative History
Entitled: AN ACT AMENDING SECTIONS 4 AND 8 OF REPUBLIC ACT NO. 7042, AS AMENDED, OTHERWISE KNOWN AS THE FOREIGN INVESTMENTS ACT OF 1991 [ THIRD REGULAR SESSION, 17TH CONGRESS ] [ 2019 ] Introduced by Representatives ARTHUR C. YAP, WES GATCHALIAN, RON P. SALO and JOCELYN SY LIMKAICHONG, et. al.; Approved on Third Reading by the House of Representatives on January 14, 2019; 1/15/2019 Sent to the Senate requesting for concurrence; 1/21/2019 Read on First Reading and Referred to the Committee(s) on ECONOMIC AFFAIRS; and TRADE, COMMERCE AND ENTREPRENEURSHIP; (The legislative history/plenary deliberations is prepared by the INDEXING, MONITORING AND LIS SECTION, LEGISLATIVE BILLS AND INDEX SERVICE; The data entry on committee meetings is prepared by the Committee Affairs Bureau)
Abstract
Seeks to amend R.A. 7042 by deleting the provisions relating to the "practice of professions" from among the items listed under the Foreign Investment Negative List (FINL), and by lowering the threshold of employment requirement to 15 direct employees for a US $100,000 foreign investment in small and medium-sized domestic market industries.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.