OECD Investment Policy Reviews: Philippines 2016 (eBook)

Foreword 5
Table of contents 7
Preface 13
Acronyms and abbreviations 15
Executive summary 19
Assessment and recommendations 21
Introduction 21
Successful reforms provide a platform to address remaining challenges 25
Principal recommendations 33
Notes 36
References 36
Chapter 1. Philippine reform environment: Successes and challenges 37
The overall policy environment has shaped economic performance 39
Sectoral reforms have brought significant benefits 46
Foreign direct investment performance and structure 54
Cross-border mergers and acquisitions involving Philippine companies 63
Key reforms of the restrictions covering foreign direct investment 70
The Philippines in the OECD FDI Regulatory Restrictiveness Index 75
FDI has helped the Philippines link to regional and global value chains 85
Notes 89
References 90
Annex 1.A1. Sources and methodologies of Philippine FDI statistics 94
Chapter 2. Legal protection of investment in the Philippines 97
Summary 98
Domestic legislative and institutional framework for investment policy 100
No explicit principle of non-discrimination with regard to establishment 106
International investment agreements 113
Selected provisions in Philippine IIAs 119
Notes 140
References 142
Chapter 3. Investment promotion and facilitation in the Philippines 145
Policy options 148
Investment promotion and facilitation in the overall development strategy 150
Institutional structure for effective promotion and coordination 154
Investment promotion measures 158
Monitoring and evaluating investment promotion 168
The incentives regime 170
The central role of economic zones in the Philippines 175
Promoting linkages 182
Notes 189
References 192
Chapter 4. Competition policy in the Philippines 195
Summary 196
The impact of liberalisation reforms on product market competition 199
Development of competition law in the Philippines 203
The competition regime 207
Challenges to competition policy and competition law enforcement 234
International aspects 244
Policy recommendations 246
Notes 253
References 255
Chapter 5. Infrastructure investment in the Philippines 257
Summary 258
Quality and coverage of infrastructure sub-sectors: An overview 259
Scope for private participation in Philippine infrastructure markets 268
Legal and institutional framework for private investment in infrastructure 276
Notes 283
References 285
Chapter 6. Responsible business conduct in the Philippines 289
Summary 290
Scope and importance of responsible business conduct 291
Progressing beyond corporate citizenship centred on philanthropy 294
Tackling ongoing challenges to RBC 295
Mainstreaming and achieving coherence on RBC 302
Notes 305
References 308