FINL-Foreign Investment Negative List

The following is a list of industries in the Philippines that are restricted from foreign ownership.

1. Mass Media except recording (Art. XVI, Sec. 11 of the Constitution; Presidential Memorandum dated 04 May 1994)

2. Practice of professions

a. Engineering 

• i. Aeronautical
• ii. Agricultural
• iii. Chemical
• iv. Civil
• v. Electrical
• vi. Electronics and Communication
• vii. Geodetic
• viii. Mechanical
• ix. Metallurgical
• x. Mining
• xi. Naval Architecture and Marine
• xii. Sanitary

b. Medicine and Allied Professions

• i. Medicine
• ii. Medical Technology
• iii. Dentistry
• iv. Midwifery
• v. Nursing
• vi. Nutrition and Dietetics
• vii. Optometry
• viii. Pharmacy
• ix. Physical and Occupational Therapy
• x. Radiologic and X-ray Technology
• xi. Veterinary Medicine

c. Accountancy
d. Architecture
e. Criminology
f. Chemistry
g. Customs Brokerage
h. Environmental Planning
i. Forestry
j. Geology
k. Interior Design
l. Landscape Architecture
m. Law
n. Librarianship
o. Marine Deck Officers
p. Marine Engine Officers
q. Master Plumbing
r. Sugar Technology
s. Social Work
t. Teaching
u. Agriculture
v. Fisheries
(Art. XII, Sec. 14 of the Constitution; Sec. 1 of R.A. 5181)

3. Retail trade enterprises with paid-up capital of not less than US$ 2,500,000.00 (Sec. 5 of R.A. 8762) *2
4. Cooperatives (Ch. III, Art. 26 of R.A. 6938)
5. Private Security Agencies (Sec. 4 of R.A. 5487)
6. Small-scale Mining (Sec. 3 of R.A. 7076)
7. Utilization of Marine Resources in archipelagic waters, territorial sea, and exclusive economic zone (Art. XII, Sec. 2 of the Constitution)
8. Ownership, operation and management of cockpits (Sec. 5 of P.D. 449)
9. Manufacture, repair, stockpiling and/or distribution of nuclear weapons (Art. II Sec. 8 of the Constitution) *3
10. Manufacture, repair, stockpiling and/or distribution of biological, chemical and radiological weapons and anti-personal mines (Various treaties to which the Philippines is a signatory and conventions supported by the Philippines) *3
11. Manufacture of firecrackers and other pyrotechnic devices (Sec. 5 of R.A. 7183) 

UP TO TWENTY PERCENT (20%) FOREIGN EQUITY

12. Private radio communication network (R.A. 3846)

UP TO TWENTY-FIVE PERCENT (25%) FOREIGN EQUITY

13. Private recruitment, whether for local or overseas employment (Art. 27 of P.D. 442)
14. Contracts for the construction and repair of locally-funded public works (Sec. 1 of CA 541, LOI 630) except:

• a. infrastructure/development projects covered in R.A. 7718; and
• b. projects which are foreign funded or assisted and required to undergo international competitive bidding(Sec. 2(a) of R.A. 7718)

15. Contracts for construction of defense-related structure (Sec. 1 of CA 541)

UP TO THIRTY PERCENT (30%) FOREIGN EQUITY

16. Advertising (Art. XVI, Sec. 11 of the Constitution)

UP TO FORTY PERCENT (40%) FOREIGN EQUITY

17. Exploration, development and utilization of natural resources (Art. XII, Sec. 2 of the Constitution) *4
18. Ownership of Private Lands (Art. XII, Sec. 7 of the Constitution; Ch. 5, Sec. 22 of CA 141)
19. Operation and management of public utilities (Art. XII, Sec. 11 of the Constitution; Sec. 16 of CA 146)
20. Ownership/establishment and administration of educational institutions (Art. XIV, Sec. 4 of the Constitution)
21. Culture, production, milling, processing, trading excepting retailing, of rice and corn and acquiring, by barter, purchase or otherwise, rice and corn and the by-products thereof (Sec. 5 of PD 194; Sec. 15 of R.A. 5762) *5
22. Contracts for the supply of materials, goods and commodities to government-owned or controlled corporation, company, agency or municipal corporation (Sec. 1 of R.A. 5183)
23. Project Proponent and facility Operator of a BOT project requiring a public utilities franchise (Art. XII, Sec. 11 of the Constitution; Sec. 2a of R.A. 7718)
24. Operation of deep sea commercial fishing vessels (Sec. 27 of R.A. 8550)
25. Adjustment Companies (Sec. 323 of P.D. 612 as amended by P.D. 1814)
26. Ownership of condominium units where the common areas in the condominium projects are co-owned by the owners of the separate units or owned by a corporation (Sec. 5 pf R.A. 4726)