All enterprises in the iron and steel industry with foreign equity shall be encouraged to undertake measures that will gradually increase Filipino participation in their businesses by taking in Filipino partners, electing Filipinos to the board of directors, implementing transfer of technology to the Filipinos, generating more employment for the economy and enhancing skills of Filipino workers
For the purposes of the OECD FDIRRI, investors are assumed to comply with such requirement by meeting one of the above conditions. As per the OECD FDIRRI methodology, the least stringent condition is recorded as a restriction in this regard.
"Section 4. Definitions of Terms. – Unless otherwise provided for in this Act:
(a) "Iron and steel industry" refers to the preparation, smelting, crushing, soaking, blooming, slabbing, melting, firing, rolling, casting, shaping, plating, galvanizing and all other processes involved in transforming raw materials (i.e. iron ore, coke, limestones, flourspar, dolomite and silica) into semi-finished products (i.e. ingots, slabs, blooms and billets) and/or semi-finished products into finished products (products in their final physical state like hot-rolled coils and strips, plates and sheets)
[...]
Section 9. Divestment. – All enterprises in the iron and steel industry with foreign equity shall be encouraged to undertake measures that will gradually increase Filipino participation in their businesses by taking in Filipino partners, electing Filipinos to the board of directors, implementing transfer of technology to the Filipinos, generating more employment for the economy and enhancing skills of Filipino workers." (RA 7103).
-----------------------------------
"Sector: Manufacturing and Services Incidental
Industry Classification: ISIC Division 15-36 (All manufacturing) [...] ISIC 2710 (Manufacture of basic iron and steel) and 2731 (Casting of iron and steel); 
[...]
Description of Measure: [...] National Treatment and the Senior Management and Board of Directors obligations shall not apply to measures relating to investments such as but not limited to the following sectors, consistent with economic development goals: 
1. Manufacture of iron and steel products; and, 
2. Establishment, installation, addition and operation of any wood or forest products processing plants.
Measures may include but not be limited to foreign equity restrictions and export requirements.
Source of Measure: - 1987 Constitution of the Republic of the Philippines. - Foreign Investments Act of 1991 (R.A. No. 7042, as amended by R.A. No. 8179.) - Iron & Steel Industry Act (R.A. No.  7103). [...]" (ASEAN Comprehensive Investment Agreement (ACIA), Philippines Reservation [negative] List)
Sec 9 of RA 7103
ASEAN Comprehensive Investment Agreement (ACIA), Philippines Reservation List.
[<a href="https://lawphil.net/statutes/repacts/ra1991/ra_7103_1991.html&hl=en&gl=fr&strip=1&vwsrc=0">Act</a>],[<a href="https://investasean.asean.org/files/upload/Philippines%20Rsv%20List%20%20(Final%2016%20Aug%202010).pdf">ACIA</a>]