The Foreign Investment Act Simplified on Maharlikanism

Definitions and Inter-Agency Investment Promotion Coordination Committee IIPCC

Mon, 28 Mar 2022 00:00:00 +0000

Section 2

The Definitions are amended:

IIPCC Powers and Foreign Inuestments Promotion ond Marketing Plan

Fri, 25 Mar 2022 00:00:00 +0000

Section 4: IIPCC Powers

establish medium-and-long-term Foreign Investment Promotion and Marketing Plan (FIPMP), coordinating all existing investment development plans and programs under the BOI, PEZA, and various investment promotion agencies (IPAs), LGUa, and other agencies, as delineated in Section 4-B of this Act;
design a comprehensive marketing strategy and campaign, promoting the country as a desirable investment area;
support inbound and outbound foreign direct and trade missions for new international markets to explore the country as a possible location to do businese;
to encourage and support research and deve! ment inpriority areas indicated by the FIPMP;
to monitor actual performance against measurable and timebound targets in the FIPMP, to include job generation;
to submit annual evaluation and reports to the President of the Philippines and the Congress regarding the activities of the IIPCC;
to establish and regularly update an online database including a directory of ready local partners from priority sectors un‹1er the FIPMP, as a toolfor promoting investments and business matching in local supply chains; and
to support local government efforts to promote foreign direct investments, expedite compliance with national requirements and address other safeguards and services requested by foreign investors in their different localities involved with said foreign investments.”

Section 5

Foreign Inuestments Promotion ond Marketing Plan (FIPMP) is a comprehensive plan based on competitive advantages, natural reaources, skill and educational development, traditional linkages, and international market potential, and it ia fully consistent with the strategic investment priorities plan under Title 13 of the National Internal Revenue Code, as amended: Provided, JrtHr, That an online portal containing the FIPMP shall thereafter be uploaded, containing further details such as the IIPCC’s procedure, contacts, schedules, among others.

Registration of Investments

Sun, 20 Mar 2022 00:00:00 +0000

Section 6

Registration of Investments of Non-Philippine Nationals

Without need of prior approval, a non-Philippine national, as defined in Section 3a, and not disqualified by law may, upon registration with the SEC (or DTI in the case of single proprietorship), do business as defined in Section 3d of this Act or invest in a domestic enterprise up to 100% of its capital, unless a participation of non-Philippine nationals in the enterprise is prohibited or limited to a smaller percentage by existing law and/or under the provisions of this Act.

Review of Strategic Industries

Fri, 18 Mar 2022 00:00:00 +0000

Review of Strategic Industries

Upon the order of the President, the IIPCC, in coordination with the National Security Council (NSC), and the NE DA, shall review foreign investments involving military-related industries, cyber infrastructure, pipeline transportation, or auch other activities which may threaten territorial integrity and the safety, security and well-being of Filipino citizens, when: