Are the Philippines going to open to the business ownership to foreigners?

It’s time for a new President in the Philippines. 

Foreign investors expect the country to open on foreign ownership of some businesses (i.e. Retail Trade) and to increase the current 40/60 general rule (60% to Filipino, 40% to foreign partners) of firm’s ownership.

During the votes counting here in the Philippines, the most credited candidate to win the elections, the Mayor of Davao Rodrigo Duterte, declared he’s going to meet some of these expectations.

Is the new Philippines’ Leader opening to foreigners?