Last week, President Rodrigo Duterte signed into law Republic Act (RA) 11647, "An Act Promoting Foreign Investments, Thereby Amending Republic Act 7042 Otherwise Known as the Foreign Investments Act of 1991, as Amended and For Other Purposes." This was signed by the President almost three months after signing RA 11595, a law which amended the Retail Trade Liberalization Act of 2000 (RTLA). Both laws aim to attract foreign investors to the Philippines to make its industries more competitive with those of the ASEAN neighbors