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It has been long misunderstood that foreigners cannot own their businesses in the Philippines. Indeed, in most industries in Philippines, foreign investments are restricted, but promoted by fiscal and non – fiscal incentives. The country’s Republic Act No. 7042 or the Foreign Investments Act of 1991 (FIA) states these incentives and their requirements for availment. …

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The Association of Southeast Asian Nations, or ASEAN, was founded on 8 August 1967 in Bangkok, Thailand, with Indonesia, Malaysia, Philippines, Singapore, and Thailand, joining hands initially. Since then, ASEAN has made positive strides in regional integration and cooperation by unique modes of governance and adding Brunei, Vietnam, Myanmar, Lao, and Cambodia as members. Although …

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