On 28 June 2011, 9:00 am to 12:00 noon, AER conducted the Roundtable Discussion/ Consultation On the 60-40 Foreign Equity Rule at the JV del Rosario 1, AIM Conference Center, Makati City.
As part of AER’s study of “Making the Philippines Investment Friendly for Growth and Employment”, AER came up with a draft of a legal policy brief about the 60-40 foreign equity rule. The roundtable discussion was held to discuss the legal policy brief with various stakeholders.
The roundtable discussion was a success, with participants from the American Chamber of Commerce, Canadian Chamber of Commerce, European Chamber of Commerce, Korean Chamber of Commerce, and Japanese Chamber of Commerce and Industry attending. In addition, representatives from the Offices of House Speaker Feliciano Belmonte, Jr. and Lorenzo Tanada III also attended the activity.
Dean Raul Pangalangan, professor at the University of the Philippines College of Law, gave the Introduction to the activity as well as a background of the study. Atty. Nepomuceno Malaluan, trustee of AER, then discussed The Legal Status of the Control Test. An open discussion on Ways to Move Forward then followed. Mr. Filomeno Sta. Ana III, Coordinator of AER served as Moderator of the entire discussion.