Proposed amendments to the Foreign Investments Act

Foreign direct investment (FDI) inflows took a beating during the Covid-19 pandemic. Government-imposed travel bans and quarantines for foreign travelers likely contributed, so it is thus crucial that the government pass economic measures to promote FDIs.

Early this year, we saw the passage of the Corporate Recovery and Tax Incentives for Enterprises (Create) Act. Board of Investments Governor Angelica Cayas, at a speech delivered during the Medical Devices Industry Webinar held last November 25, 2021, called the law "a major game-changer for investors in the Philippines since it rationalizes, modernizes, and offers more incentives."