Only two months after the government announced major changes in foreign direct investment (FDI) norms, the Reserve Bank of the Philippines (RBI) and Ministry of Finance has requested a review of new regulations on issues several controversial cut in all sectors including banking, financial services, insurance, real estate, infrastructure and the airlines.In an internal memo to recent changes in FDI policy, and presented a copy of which was to get Stan Hindustan Times, the Ministry has expressed fears that "one year after the invasion and sub-sectoral divide 49 percent and not significant. "
"If this position is adopted as such or as an unintended and liberalization are not clear," said a note.
The Ministry also wants to be that way, constructed in violation of sectoral Caps could be identified using a standard system with the introduction of the Reserve Bank or any regulator.
"The minimum investment, has nothing, or work with the Reserve Bank estimates, and therefore can not be violated" note.
The new standards are established and approved by the Council of Ministers will take the sanctity of the law only when it has been notified under the Foreign Exchange Management Act (Federal Republic). The Pentagon says that controversial issues should be clarified before the issuance of a notice.
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