Under what circumstances can the President involve foreign corporations in natural resource extraction?

The President is authorized to enter into agreements with foreign-owned corporations for specific large-scale resource extraction. These agreements can involve either technical or financial assistance for the exploration, development, and utilization of minerals, petroleum, and other mineral oils. Such agreements must be based on real contributions to the economic growth and general welfare of the country. This executive power is carefully outlined in Article XII, Section 2, 1987 Philippine Constitution and requires notifying Congress within thirty days. “The President may enter into agreements with foreign-owned corporations involving either technical or financial assistance for large-scale exploration, development, and utilization of minerals, petroleum, and other mineral oils according to the general terms and conditions provided by law, based on real contributions to the economic growth and general welfare of the country.” 22-Mar-26

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