Foreign Investments Act of 1991 (Republic Act No. 7042).

This Act aims to attract, promote and welcome investments from foreign individuals and governments in activities which contribute to national development and industrialisation of the country. The Act allows investment with foreign ownership to 100% in domestic market except in areas included in the negative list. This Act does not apply on banking and other financial institutions that are governed by the General Banking Act. The Act provides for registration of investment of non-Philippine nationals, foreign investment in export enterprises and domestic market, and foreign investment negative list (the area reserved for investment of nationals). Article 11 requires for compliance of investment with the environmental standards. The text contains 18 Articles and provides for administrative sanctions for violation of the Act's provisions.