Foreign investments to be restricted in rice sector

The Philippines will allow foreign direct investments (FDIs) in some aspects of rice sector, but maintained that it would not allow full foreign equity in production and supply chain.

In a memorandum to Department of Agriculture Secretary Proceso Alcala, Assistant Secretary Dante Delima said that the National Rice Program favors partial foreign investments in agriculture in light of a letter from the National Economic and Development Authority, seeking the agency’s views or positions on proposals to lift limitations on foreign participation in agriculture.