Public Service Act and the Foreign Investments Act to speed up the economic gains from the reform measures.
RA 11659 allows 100-percent or full foreign ownership of airline, telecommunications, mass media, railways and logistical or shipping operators. RA 11647 allows qualified non-Philippine nationals to do business in the country or invest in a domestic enterprise up to 100 percent of its capital and liberalizes the practice of professions not governed by existing special laws.
“We share this administration’s thrust to propel the country’s economic recovery post-pandemic thru the enactment of game-changing economic liberalization laws. Prompt issuance of IRRs for these laws would hasten the realization of gains expected from the passage of these liberalization laws, to the benefit of the public,” the group said.JFC also welcomed the statements by executive and legislative leaders to “get on with it” after the successful efforts to pass the reforms in Congress.