Yes, retail trade enterprises with paid up capital in excess of US 2,500,000 can be owned by foreigners. As per the negative list: http://www.officialgazette.gov.ph/downloads/2018/10oct/20181029-EO-65-RRD.pdf I am sure an IKEA store has much more than US 2,500,000 invested in inventory alone.
Thanks. Hadn't looked for awhile. Nice to see they are opening it up. I believe that will only result in better products and (customer) services.
It is actually IKANO that are holding the franchise as for most other outlets in the world! IKANO is basically an IKEA owned company. Phillipines was always considered a suitable market but domestic laws has been the obstacle. Same thing in Thailand until a couple of years ago when IKEA opened their first Thai operation south of BKK. There is also an IKEA warehouse in Phuket now. I am sure there will be "out-of-stock" items. Happens all the time even in Sweden.
