Press Release
May 8, 2019

STATEMENT OF SENATOR WIN GATCHALIAN ON THE ALLEGED PROLIFERATION OF CHINESE-ONLY BUSINESSES

I have always maintained that what should be exclusively for the Filipino should be for the Filipino.

A number of our laws are in place as safeguards against the encroachment of foreigners on the market space for domestic businesses and enterprises wholly-owned by Filipino citizens. Republic Act (RA) No. 7042 or the Foreign Investments Act of 1991 mandates that small and medium-sized domestic market enterprises -- including restaurants and the like -- with paid-in equity capital less than US$200,000 are reserved to Philippine nationals. RA 8762 or the Retail Trade Liberalization Act of 2000, on the other hand, categorically states that retail enterprises like convenience or variety stores with paid-up capital of less than US$2,500,000 shall be reserved exclusively for Filipino citizens and corporations wholly owned by Filipino citizens.

Kung mapatunayan man na may mga businesses na pagmamay-ari ng mga dayuhan na lumalabag sa mga batas na ito ay dapat lamang na kumilos agad ang mga concerned government agencies upang mapasara agad ang mga ito. We need to protect the interests of both Filipino consumers and Filipino business owners.

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