When does Congress have the power to reserve certain investment areas for Filipinos?
Congress holds the authority to nationalize certain areas of investment when the national interest strongly dictates it. This action is taken upon the official recommendation of the independent economic and planning agency. Congress can reserve these investment areas exclusively to citizens of the Philippines or to qualified corporations. These corporations must have at least sixty per centum of their capital owned by Filipinos, as authorized by Article XII, Section 10, 1987 Philippine Constitution. “The Congress shall, upon recommendation of the economic and planning agency, when the national interest dictates, reserve to citizens of the Philippines or to corporations or associations at least sixty per centum of whose capital is owned by such citizens, or such higher percentage as Congress may prescribe, certain areas of investments.” 22-Mar-26About Nicolas and De Vega Law Offices
Nicolas and De Vega Law Offices is a full-service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 84706126, +632 84706130, +632 84016392 or e-mail us at [email protected]. Visit our website https://ndvlaw.com/.
