See - www.gov.ph/downloads/2015/05may/20150529-EO-0184-BSA.pdf
Go to above link. Read:
Republic Act (RA) No. 7042, also known as the “Foreign Investments Act of 1991,” as amended by RA No. 8179, provides for the formulation of a Regular Foreign Investment Negative List, covering investment areas/activities which are open to foreign investors and/or reserved to Filipino nationals.