Basis and Legal Mandate
- Enacted pursuant to Republic Act No. 7042, known as the Foreign Investments Act of 1991, as amended.
- Reflects government policy to ease restrictions on foreign investment in certain areas.
- Supersedes the Tenth Regular Foreign Investment Negative List to incorporate changes aligned with existing laws.
Categories of the Negative List
- List A: Areas reserved for Filipino nationals as mandated by specific laws.
- Amendments can be made at any time to reflect legal changes.
- List B: Areas where foreign equity participation is limited but not entirely prohibited.
- Amendments to this list may only be made once every two years following the law and its implementing rules.
Amendment Procedures
- List A is more flexible and can be updated frequently to reflect legislative or regulatory changes.
- List B amendments follow a strict biennial schedule in accordance with Section 8 of RA No. 7042 and its implementing rules.
Repeal of Inconsistent Issuances
- All prior issuances, orders, rules, or regulations, or parts thereof, inconsistent with this Executive Order are repealed, amended, or modified accordingly.
Separability Clause
- If any provision is declared invalid or unconstitutional, this does not affect the validity of the other provisions.
Effectivity Clause
- The Order takes effect fifteen (15) days after publication in a newspaper of general circulation.
- Ensures public awareness and legal enforceability post-publication.
Authority and Final Provisions
- Signed by the President of the Philippines, exercising constitutional and legal powers.
- Enforced through the Secretary of the Executive Office for administration.