MANILA, Feb. 28 -- The President can appoint Filipinos with dual citizenship as independent directors of the Maharlika Investment Corporation (MIC), the Department of Justice (DOJ) said Wednesday.

In Opinion No. 13, series of 2024 dated Feb. 19 and furnished to Presidential Management Staff head Undersecretary Elaine Masukat, Justice Undersecretary Raul Vasquez also said foreigners may not be appointed as directors of the state firm.

"(T)his department is of the opinion that foreign nationals cannot be appointed to become independent director of the MIC, while natural-born Filipino citizen with dual citizenship at birth may be appointed as an independent director of the MIC, without the need of renouncing his/her foreign citizenship," t...