At this stage of our national life, we could not deny the extent and magnitude of these foreign corporations' contributions to our economy. This is a fact despite the charges of undue intervention and discrimination, excessive profiting and colonial tendencies which have been hurled against them. The aim of this study is to present in one full grasp all the existing pieces of legislation, government regulations and policies concerning the manner and the conditions by which foreign corporations could do business in the Philippines. Perhaps the most glaring finding which any individual who undertakes to study the subject of foreign corporations transacting business in the Philippines will discover is the abject lack of a substantive law which will govern said corporations and their operations in the Philippines