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Economy

Philippines pushes to ease Asia's toughest foreign investment rules

Duterte-backed overhaul faces opposition from entrenched conglomerates

Filipinos work at the assembly line of Taiwan-based Kinpo Electronics' factory in Malvar, Philippines.    © Reuters

MANILA -- The Philippines is closer to loosening its strict rules on foreign direct investment, long seen as hindering global companies looking to crack a large Southeast Asian market dominated by local conglomerates.

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