Question:
Is this allowed?
I cannot find anything in RA9184 about this scenario.
Typically, JVs are required to be at least 60% Filipino owned but if 100% foreign companies are allowed, is a 100% Foreign JV also allowed? The goods to be supplied are obviously impossible for a local supplier to deliver and our local company does not want to take on the risk and get involved in the JV in case anything goes wrong.
The Annex of 9184 regarding foreign suppliers are fulfilled but it never mentions anything about 100% Foreign JVs.
Has anyone else ever seen this scenario?