If you are a foreign investor thinking of putting in capital for mining businesses in the Philippines, you must have asked if there is a limit on foreign ownership for Philippine mining companies. The Supreme Court again discussed this issue in a recent ruling denying a motion for reconsideration filed by certain mining companies in the Philippines. The controversy is anchored on the requirement that mining, among other activities, is reserved by the Constitution — the highest law of the land — for Filipinos. Sec. 2, Art. XII of the Constitution, which provides that the exploration, development, and utilization of of natural resources is reserved to Filipinos, whether natural persons or juridical persons. Filipino juridical persons refer to “corporations or associations at least sixty per centrum of whose capital is owned by such citizens.” Continue reading
The crucial role played by micro, small and medium enterprises (MSMEs) has long been recognized. The established figures are astounding — more than 99% of enterprises in the Philippines are MSMEs. These business entities heavily contribute to economic development and, more importantly, generate employment in a scale larger than big industries. It thus makes absolute sense for lawmakers to pass a legislation that encourages and assists MSMEs during registration, in the conduct of business, and compliance with regulatory requirements.
Ponzi schemes have been in existence for almost a hundred years. It’s amazing how these fraudulent “investment” schemes are still flourishing to this very day, even with the fast dissemination of information through social media and other modern means of communication. Let’s take a look at the documented Ponzi schemes in the Philippines. Continue reading
[The Joint Foreign Chambers of the Philippines, by way of reaction to the Ninth Foreign Investment Negative List issued through Executive Order No. 98, issued an official statement, full text of which is reproduced below. The negative list contains the activities restricted to Filipinos, in various percentages of ownership.] Continue reading
We (hopefully) learn from our own experience. We also learn from the experience of others, both from those who failed and from successful Pinoy Entrepreneurs. Let’s see what we can pick up from the awardees in the recently-concluded search for the Entrepreneur of the Year Philippines 2012, organized and presented by Ernst & Young, which was announced on 18 October 2012 at the Makati Shangri-La Hotel.
It’s not that starting Pinoy Entrepreneurs would be keen on getting to know the intricacies of shares of stocks or securities, much more The Securities Regulation Code (Republic Act No. 8799). Still, at the very least, a little background on the matter would sound impressive during business meetings. So let’s have a primer on the subject matter of securities. Continue reading
The usual reason given by Overseas Filipino Workers (OFWs) in leaving the Philippines, and enduring the separation from their families, is the greener pasture at the other side of the fence, wherever in the world that may be. We’ve previously noted that perhaps it would help OFWs to become entrepreneurs. Invest or start a business, whether in the Philippines or abroad, and create a financial buffer in case they decide to “retire” from work abroad and return to the Philippines. Someone asked how to start a business in the Philippines. We’ll put ourselves in the shoes of our OFW brothers and sisters, then ask: what would we do?
The story of National Bookstore (NBS), currently the biggest book chain and one of the most successful retail outlets in the Philippines, won’t be complete without telling the story of a soft-spoken lady. Socorro Cancio Ramos, fondly called Nanay, is the founding matriarch of NBS, literally and figuratively hand-in-hand with her husband, the late Jose Ramos. Her story would truly serve as an inspiration to budding Pinoy Entrepreneurs.
Business people complain about fixers and red tape in government, which are problems in business registration and other aspects of doing business. There’s a law especially enacted to combat it.
Knowing what to expect from government agencies performing frontline services is important minimizing red tape. It’s always good to point to some legal basis in demanding certain standards from government offices and agencies.