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Manila Bulletin devider Business devider The Economy devider US bizmen urge Marcos: Amend 1987 Constitution to deepen foreign investment liberalization

US bizmen urge Marcos: Amend 1987 Constitution to deepen foreign investment liberalization

Published Apr 20, 2026 05:07 pm
US President Donald Trump and President Marcos
US President Donald Trump and President Marcos

The American Chamber of Commerce of the Philippines (AmCham Philippines) welcomed the Marcos Jr. administration’s issuance of Executive Order (EO) No. 113 updating the foreign investments negative list (FINL), describing the move as a step toward a more open and competitive investment environment.

In a statement on Monday, April 20, AmCham Philippines said the updated FINL reinforces the country’s commitment to improving investor confidence amid intensifying competition for foreign direct investment (FDI) across the region.

The FINL outlines the sectors and activities in which foreign ownership is either restricted or prohibited in the Philippines, serving as a guide for investors on where and to what extent they may participate.

AmCham Philippines noted that recent liberalization efforts in key sectors, including telecommunications and renewable energy (RE), mark important progress and could serve as a model for broader reforms across the economy.

“Foreign ownership restrictions should be narrowly defined, transparent, and aligned with clear policy objectives. Reducing structural barriers to investment will be essential to unlocking higher levels of growth and innovation.”

AmCham Philippines also reiterated its call to amend the economic provisions of the 1987 Constitution that continue to restrict FDI.

“Greater flexibility in determining foreign ownership limits would enable Congress to respond more effectively to evolving economic priorities, strengthen the country’s competitiveness, and align the Philippines more closely with Association of Southeast Asian Nations (ASEAN) peers in attracting investment,” AmCham Philippines said.

“Sustained liberalization, coupled with clear and consistent policy implementation, will be critical to attracting long-term, high-quality investments that generate jobs, support innovation, and drive inclusive growth,” it added.

AmCham Philippines said it will continue working with the government and other stakeholders to advance reforms aimed at further opening the economy and positioning the country as a leading investment destination in the region.

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