Citing the needs to protect the interest of Filipinos, Senator Sherwin Gatchalian on Wednesday said the government must act swiftly to stop the operations of foreign-owned businesses found to be violating laws that prioritize Filipinos in businesses.
“We need to protect the interests of both Filipino consumers and Filipino business owners,” stressed Gatchalian, chairman of the Senate committee on economic affairs.
If it can be proven that establishments owned by foreigners are violating our laws, he said concerned government agencies should immediately act.
The senator cited laws that safeguard against the encroachment of foreigners on the market space, including Republic Act 7042 or the Foreign Investments Act of 1991 and RA 8762 or the Retail Trade Liberalization Act of 2000.
He said RA 7042 required small and medium-sized domestic market enterprises—including restaurants— with a paid-in equity capital less than $200,000 are reserved to Philippine nationals.
On the other hand, he said RA 8762 provided that retail businesses like convenience or variety stores with paid-up capital of less than $2,500,000 should be reserved exclusively for Filipino citizens and corporations wholly owned by Filipinos.
“I have always maintained that what should be exclusively for the Filipino should be for the Filipino,” he said.
Gatchalian issued the statement following reports on social media posts about a restaurant in Alabang, Muntinlupa City that bars Filipinos from its premises as it only caters to Chinese workers.
It was also reported that many convenience stores owned by Chinese nationals in Makati and Pasay cities were reported not welcoming Filipinos.
