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Duterte wants 60-40 rule eased

President Duterte is pushing for Charter amendments to relax rules covering foreign investors in a bid to spur economic growth and job generation in the country.

In a press conference in Davao City last Thursday night, the President announced that he was in favor of changing the present 60-40 rule on foreign ownership of companies to “a half-half thing.”

“In the coming days, we might be able to fix something in the Constitution,” the President said. “I was against before of selling the lands. I think that is still my stand but I’m willing to change this 60-40 thing, make it more elaborate, maybe even if it is a half-half thing as long as there are good investments where they can provide livelihood for everybody. Yan ang kulang natin,” he said. (Genalyn D. Kabiling)