House OKs bill allowing foreigners to practice their professions in PHL

The House of Representatives on Monday approved on third and final reading the bill amending the Foreign Investments Act of 1991, allowing foreign nationals to practice their profession in the country.

With 201 votes for, six votes against, and seven abstentions, the chamber approved House Bill 300, introduced by Tarlac Representative Victor Yap.

The bill primarily aims to make the Philippines more accessible to foreign investors in the hope of generating employment opportunities for Filipinos and boosting the economy.

At the same time, the measure also seeks to attract foreign investments and facilitate the transfer of technologies.

Under the bill, "practice of professions" would be excluded from the coverage of the Foreign Investments Negative List which, according to Yap, and would thus "attract foreign professionals to come to the country."

During her sponsorship speech, AAMBIS-OWWA party-list Representative Sharon Garin said the practice of professions was not an investment activity.

She also allayed apprehensions on the liberalization of professions, saying that the Professional Regulation Commission would still regulate them to ensure protection for Filipino skilled workers.

"Filipinos are able to compete overseas. There is no reason to doubt their ability to compete with foreigners coming in," Garin argued.

"Allowing skilled professionals to work in our country would boost the competitiveness of our human resource. By working with professionals from more advanced countries, Filipinos gain fresh perspectives and new knowledge, broadening the skills set they may already have. It would be similar to sending Filipinos abroad on exchange program at lower cost and less brain drain," she added.

The measure also lowers the employment threshold from 50 to 15 direct employees for small and medium-sized enterprises established by foreign investors with a minimum paid capital of US$100,000. — DVM, GMA News