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Philippines Plans Charter Change to Ease Foreign Ownership Limit

Photographer: Taylor Weidman/Bloomberg

The Philippines plans to amend its Constitution next year to help ease restrictions on foreign investment, Finance Secretary Carlos Dominguez said.

Dominguez informed Japanese investors in a recent forum in Tokyo that the government is also reviewing its so-called Foreign Investment Negative List to increase foreign ownership limits in the areas of construction and other sectors, the Finance Department said in a statement. The review, which the finance chief described as the first step, started in May.