JFC calls on gov’t to review rules on foreign ownership

At the Arangkada website launch press conference on July 20, 2011 held at the Intercontinental Hotel in Makati City, the members of the Joint Foreign Chambers reiterated their stance on foreign equity, calling for a review on rules especially with respect to infrastructure projects. AmCham Senior Advisor John Forbes pointed out that the 60-40 rule dates back to the colonial era while ECCP VP Henry Schumacher commented that the ruling has raised investors’ concern. For more video excerpts of the televised coverage of the July 20 press conference, please visit our youtube channel youtube.com/arangkadaph.