Commercial Law, 2013 Bar — Question MC-II-3

MULTIPLE CHOICE

(MCQ Item II is a foreign-investment scenario in which a delegation consults you about investing in the Philippines under the Foreign Investments Act of 1991. The scenario introduction and sub-questions (1) and (2) are on source pages 216–217, which are missing from the source PDF.) The delegation heard that foreigners can invest up to 100% of the equity in "export oriented enterprises" and you were asked exactly what the term covers. You replied that an "export oriented enterprise" under FIA '91 is an enterprise that ___. (1%) A) only engages in the export of goods and services, and does not sell goods or services to the domestic market; B) exports consistently at least 40% of its goods or services, and sells at least 60% of the rest to the domestic market; C) exports consistently at least 60% of the goods or services produced, and sells at least 40% of the rest to the domestic market; D) exports consistently at least 60% of its goods or services produced, and can sell goods or services to the domestic market; E) None of the above.

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