Republic Act No. 10881

100% foreign equity allowed in financing sector

10 August, 2016 at 08:00

Greater competition is expected in the local financial industry as a law that allows foreigners to take full ownership of lending and financing companies, investment houses and insurance claim adjustment firms comes into force next week.

GDP*, 2015	5.9% y-o-y growth
GDP*, 2016	6.8% y-o-y growth
GDP Per Capita, 2016f	$3,569
Exports**, 2015	$58.83 billion (revised)
Exports**, 2016	$56.23 billion (preliminary)
FDI Inflows, 2015	$5.8B (revised)
FDI Inflows, Jan-Dec 2016	$7.9B
Poverty Incidence, % of Pop, 2015	21.6%
Population, 2017	103.8 million
Income Classification (WB)	Lower Middle Income
*in constant 2000 prices
**in current prices

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