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ARTICLE · 17 OCTOBER 2023

The Philippines Opens Its Doors: New Foreign Investment Opportunities

Withers LLP
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With a rising economy poised to be in the top 20 globally by 2050, a robust English-proficient workforce owing to its population of over 110 million with a median age of 25.

PhilippinesGovernment, Public Sector
Luis Sena
Luis Sena
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With a rising economy poised to be in the top 20 globally by 2050, a robust English-proficient workforce owing to its population of over 110 million with a median age of 25, and now with reformed regulations that have relaxed foreign nationality restrictions in vital enterprises, the Philippines stands as a country rich in investment possibilities.

Pushed on by then-President Rodrigo Duterte's call to ease foreign nationality restrictions in key industries, in 2022 the Philippine Congress passed amendments to investment laws such as the Foreign Investments Act, the Public Service Act, and the Retail Trade and Liberalization Act. Current President Ferdinand Marcos Jr. is expected to continue the trend, having declared on several occasions the administration's steadfast commitment to pursuing legal and strategic reforms that facilitate the ease of doing business. Most recently, the Philippine Statistics Authority (PSA) announced that the approved foreign investments

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