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‘Foreign ownership won’t affect local ad industry’

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The entry of foreign investors will not adversely affect local creatives employed in the advertising industry, a Senate committee hearing on economic Charter change learned yesterday.

MANILA, Philippines —

“The developments in technology have changed the landscape, insofar as job creation is concerned. In fact, Filipino talent works for foreign companies online. And the reverse is also true – foreign talents are contributors to advertising content online. Technology has really changed the landscape compared to what it was in 1987,” he added.

“The entry of foreign entities in the country could enhance the foreign interests to the detriment of local interests,” he said. The Senate panel will hold Charter change consultations in Baguio, Cebu and Cagayan de Oro, before the committee concludes and prepares its report for plenary debates in the incoming third regular session, he added.

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