PCC: Proper PSA implementation key to PH growth

Proper implementation of the amended Philippine Service Act will improve public services and enhance the prospects for the country to join the ranks of dynamic and prosperous economies in Asia, the Philippine Competition Commission said.

The enactment of these amendments, which encourage investments, promote job growth, and accelerate technology transfer, at this time and after more than 80 years, became more urgent as a post-pandemic response to hasten our economic recovery. Initially, Lopez said the amended PSA is projected to haul in more than $60 billion investments in the telecommunications, transportation, logistics and railways sectors. “This is still understated as other leaders have not indicated investment amount. Can be over $100 billion over two years,“ Lopez added without identifying the investment leads.

These include the distribution of electricity, transmission of electricity, petroleum and petroleum products pipeline transmission systems, water pipeline distribution systems, and wastewater pipeline systems, including sewerage pipeline systems, seaports, and public utility vehicles. Second, the provision on restrictions on investments by foreign state-owned enterprises prevents a foreign SOE from owning capital stock in a public utility or critical infrastructure.

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MIAS 2022: GAC GS8 looks like a proper flagship SUV - Auto NewsGAC's GS8 looks like a smaller Escalade/Land Cruiser mashup
Source: autoindustriya - 🏆 15. / 63 Read more »

Philippines upgrades Q4, 2021 economic growth figuresThe Philippine Statistics Authority (PSA) on Thursday announced an upward revision to its fourth-quarter and full-year 2021 economic growth.
Source: gmanews - 🏆 11. / 68 Read more »

UnionBank takeover of Citi’s Philippine consumer banking business gets PCC nodAboitiz-led Union Bank of the Philippines’ planned acquisition of American banking giant Citigroup Inc.’s consumer banking business in the country has secured the go signal from the Philippine Competition Commission (PCC).
Source: gmanews - 🏆 11. / 68 Read more »

Philippines’ 2021 GDP growth upgraded to 5.7% - BusinessWorld OnlineThe Philippine economy grew slightly faster than it initially reported in 2021, the Philippine Statistics Authority (PSA) reported on Thursday. READ:
Source: bworldph - 🏆 9. / 68 Read more »

Rain on Holy Week if tropical depression enters PH – PagasaTHE tropical depression outside the Philippine Area of Responsibility (PAR) may enter the country next week and bring rains during the Holy Week in many areas, including Metro...
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Jobless Filipinos up to 3.13M in February —PSAThe number of unemployed Filipinos rose in February as the easing of restrictions during the period prompted many to look for employment opportunities but failed to land jobs due to limited number of businesses operating, the Philippine Statistics Authority (PSA) reported Thursday.
Source: gmanews - 🏆 11. / 68 Read more »