The enactment of an updated Public Service Act in the first quarter of 2022 has become distinctly possible after the passage of the Senate bill that would be harmonized with the House of Representatives’ bill. This would complement the earlier enactment of the Retail Trade Liberalization Law and amendments to the Foreign Investment Act.
Foreign businesses would be allowed 100 percent ownership of, among others, telecommunications, air carriers, domestic shipping, railways and subways, and canals and irrigation. As noted by the Joint Foreign Chambers, this reform will also improve the international ranking of the Philippines by the Organization of Economic Cooperation and Development from its current unattractive placement as one of the three most restrictive economies in the world for foreign investment in public services.
I hope aware yung mga nagcocomment dito na its the congress/senate who make a law tapos its either vetoed or signed by the President.,.
Prepare for China...
Not a good idea at all.
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Source: CNN Philippines - 🏆 13. / 63 Read more »