The Trade Department called for a repeal of the blanket prohibitions of the Public Service Act that discourages foreign companies from making significant investments to the Philippines.
It made the statement amid criticism from the private sector and foreign firms that have set their eyes on investing in public utilities in the Philippines.
Trade Undersecretary Ceferino Rodolfo said the best way to improve services in the country would be to open up business ownership and allow greater competition.
“If you look at academic literature and even at pragmatic policymakers, if you look at their thoughts on liberalization on reform, we should have liberalized services ahead of liberalization in goods,” Rodolfo said at a recent forum hosted by the British Chamber of Commerce of the Philippines.
Senate deliberations to amend the PSA are focusing now in terms of security considerations with respect to certain infrastructure, particularly in telecommunication.
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