section xII
National Economy and Patrimony
The Congress shall, upon recommendation of the economic and planning agency,
when the national interest dictates, reserve to citizens of the Philippines or to corporations or
associations at least sixty per centum of whose capital is owned by such citizens, or such
higher percentage as Congress may prescribe, certain areas of investments. xxx.
In the grant of rights, privileges and concessions covering national economy and patrimony,
the State shall give preference to qualified Filipinos.
article 12- section 10
. The sustained development of a reservoir of national talents consisting of Filipino
scientists, entrepreneurs, professionals, managers, high-level technical manpower and skilled
workers and craftsmen in all fields shall be promoted by the State. The State shall encourage
appropriate technology and regulate its transfer for the national benefit. The practice of all
professions in the Philippines shall be limited to Filipino citizens, save in cases prescribed by
law
Section 14.
here we should proioritize filipino corp than foreign corp
ARTICLE 12- National Economy and Patrimony
patrimony pertains to
heritage.
Many multinational corporations want to invest in the Philippine tourism, travel, and hospitality
industry. It is important to study to what extent and how they can invest.
SECTION 11
he term “__________simply means that preference shall be given to those citizens who can make a viable contribution to the common good, because of credible competence and efficiency.
qualified Filipinos”
No franchise, certificate, or any other form of authorization of the operation of a
public utility shall be granted except to citizens of the Philippines, or to corporations or
associations organized under the laws of the Philippines or at least 60 per centum of whose
capital is owned by such citizens, nor shall such franchise, certificate, or authorization be
exclusive in character for a longer period than fifty years. Neither shall any such franchise or
right be granted except under the condition that it shall be subject to amendment, alteration or
repeal by the Congress when the common good so requires. The State shall encourage equity
participation in public utilities by the general public.
The participation of foreign investors in the governing body of any public utilities enterprise
shall be limited to their proportionate share in its capital, and all the executive and managing of
such corporation association must be citizens of the Philippines.
article 12- section 11
IT IS A LAW ABT PROFESSION
SECTION 14
