IRR of Republic Act No. 11647 on Foreign Investments

Creates the Inter-Agency Investment Promotion Coordination Committee (IIPCC) to integrate foreign investment promotion.
Chaired by the DTI Secretary; members include key government agencies and four private sector representatives.
Private members serve three-year terms with qualifications in investment-related fields.

IIPCC formulates investment promotion plans, coordinates marketing and research, supports investment missions, monitors targets, and supports LGUs.
Secretariat headed by BOI Executive Director handles administrative support, budget consolidation, monitoring, and reporting.
Meetings held semi-annually with quorum rules; full disclosure of conflicts of interest mandated.

FIPMP aims to promote the Philippines as an investment destination fostering job creation, product sophistication, domestic supply, capital attraction, and export diversification.
IIPCC formulates medium (5 years) and long-term (10 years) plans.
Plans are reviewed and amended bi-annually with monitoring tools integrated.
Education and training agencies to align curricula with manpower needs under FIPMP.

IIPCC to establish and maintain an online portal for information dissemination, registration links, databases of investments, local partners, land, and marketing tools.
The system promotes investment facilitation and shall be accessible to the public.

Foreign nationals may invest up to 100% in domestic market and certain export enterprises outside the Foreign Investment Negative List (FINL).
Registration to be filed with SEC for corporations/partnerships and DTI for sole proprietors.
Additional requirements apply for defense-related and some domestic market enterprises.
Registration decisions have prescribed timelines; silence implies approval.
Compliance with equity participation and paid-up capital monitored.

Allows 100% foreign equity in export enterprises outside FINL restrictions.
Requires registration with BOI and submission of annual reports.
Non-compliance with reports and export quotas subject to graduated fines and possible registration cancellation.

Foreign equity allowed up to 100% unless restricted by Constitution, laws, or the FINL.
Enterprises may change status from domestic to export by notification and process outlined.

Regular FINL consists of List A (activities reserved to Philippine nationals with 40% foreign ownership limit) and List B (regulated activities with additional restrictions like defense, public health, and micro/small enterprises).
NEDA responsible for formulation, submission, publication, and periodic review.
Amendments to FINL by Executive Order, with procedures involving Secretary of National Defense, Health, and others.

Registered foreign enterprises employing foreign nationals and enjoying fiscal incentives must implement training programs.
Program monitored by DOLE with reports submitted to IIPCC.

Former natural-born Filipinos granted rights equal to Philippine citizens in certain investments, including private land ownership subject to statutory limits and conditions.

All enterprises must comply with environmental laws and obtain the necessary clearances post-registration.

Detailed penalties for late, fraudulent report submissions by export enterprises.
Sanctions for failure to comply with export requirements and environmental standards outlined.
Procedures for hearings on violations by SEC or DTI specified.

Framework established to monitor and review foreign investments in strategic industries (e.g., military, cyber infrastructure, pipeline transportation).
Procedures for voluntary and motu proprio reviews by IIPCC and IIPCC Technical Committee.
President empowered to suspend, prohibit, or limit foreign investments deemed risky.
Criteria for assessment include national security impact, legal compliance, economic implications, and investor background.
Confidentiality of information maintained with exceptions for Congress or judicial proceedings.

Anti-graft provisions impose heavy fines on public officials involved in foreign investment promotions.
Act excludes banking and individual professional practice governed by other laws.
Appropriations allocated for IIPCC operations.
Repealing clause abrogates inconsistent laws; separability clause preserves validity of the rest of the Act if parts are invalidated.
Effectivity is fifteen days after publication.