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FOREIGN INVESTMENT LAWS IN THE PHILIPPINES Introduction The Philippines is an archipelago of some 7,100 islands in Southeast Asia. Known as the "Gateway of the East to Asia," this developing country has a liberal foreign investment regime. The country, through fiscal incentives and foreign ownership liberalization, seeks to attract foreign direct investments which will assist in its reconstruction and modernization. The new and fresh approach in its foreign investment laws is consistent with economic globalization and cooperation. The heart of the foreign investment laws in the Philippines lies in the 1987 Constitution, the Omnibus Investments Code 1987, the Foreign Investments Act 1991 and the Special Economic Zone Act 1995. While numerous other legislations one way or another affect foreign investments in the Philippines, this article's scope is limited to discussing important provisions of the abovementioned legislations. The Constitution of the Philippines The 1987 Constitution of the Philippines1 empowers the Government to regulate...

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