"FOREIGN INVESTMENTS ACT OF 1991"

Republic Act 7042 is also known as “Foreign Investments Act of 1991”, which means Filipino ownership is 60%, while foreign ownership is 40%. This would change the Philippine economy if they all pass any kind of work to 100% foreign ownership. Philippines to allow 100% foreign ownership in further infrastructure sectors like telecommunications, domestic shipping, railways and subways, airlines, expressways and toll ways, and airports. The investors are foreigners and the employees are all Filipino which indicates that many Filipino can be employed.

Here are the links for more information about the “Foreign Investments Act of 1991”:

https://www.pna.gov.ph/articles/1163482?fbclid=IwAR3gPgfJ5oL_zuOxM3bTwWXJWQuShrDxwOUIP9WMNeVVXvgcyyFWixaK7ro

https://www.pinsentmasons.com/out-law/news/philippines-to-allow-100-percent-foreign-ownership-in-further-infrastructure-sectors?fbclid=IwAR3qAXxzhwuppj7J5yjJjktPadM-IfXKuiVk0W1Mgnvfq-GdFNe6_G4C_4M