The Filipino First Policy is a constitutional principle requiring that, in sectors involving the national economy and natural resources, preference is given to Filipino citizens and companies over foreign investors.
In practice, this has meant limits on foreign ownership in key industries (often capped at 40%), aimed at protecting national control and supporting local businesses.
However, in recent years, the Philippines has begun relaxing these restrictions. For example, the Public Service Act Amendments (RA 11659) narrowed the definition of “public utilities,” allowing sectors like telecommunications, airlines, and railways to be up to 100% foreign-owned.