FINLForeign Investments Negative List (Philippines)
FINLFinancial Independent Network Limited
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The Economic Development Cluster recently approved Neda's recommendations on the 11th FINL, Pernia noted.
21 21 Thrivent Finl for Lutherans 069600 83,482,388 3.9
Pernia, who also heads the state planning agency National Economic and Development Authority, said to be removed from the FINL were the eight to 10 sectors, including the following: professions (teaching of foreign professors from foreign universities); public utilities such as telecommunications (except water, sewerage and electricity distribution); and construction, specifically contractors, among others.
The FINL is a document released every two years that details which industries would have limited participation from foreign companies.
According to Pernia, the proposed FINL identified a 'short' list of areas where foreigners can own up to 49 percent, a list of 'sensitive' areas as well as activities where full foreign ownership will be allowed.
Pernia, who heads the state planning agency National Economic and Development Authority, added that the 11th FINL will allow entry of international construction companies.
It said it was also not an investment activity and, therefore, should not be included in the Foreign Investment Negative List (FINL) or the list of activities that foreign entities are not allowed to do in the country.
"First, it is our view that the practice of all professions is not a germane provision in the Foreign Investment Negative List (FINL), the key document created by the FIA.
Joint Foreign Chambers (JFC) has urged for the passage of all the amendments in Senate Bill (SB) 2102, which seeks to liberalize foreign the Foreign Investment Negative List (FINL) particularly on the practice of professions.
The 43-yer-old, who ws memorbly disqulified from The Open Chmpionship in 2003 when in contention for victory fter scorecrd mix-up, ws greeted on the finl green by his wife Julie nd twin dughters lexndr nd Emily.