MANILA - The Philippines’ biggest business group on Wednesday said it “strongly” opposes reclassifying the transport, telecommunications and power generation industries as public utilities.
“There has never been a time when we need more foreign direct investments such as now as we work towards the common objectives of recovery and sustainable progress,” “Our position on transport and telecom has been affirmed by the results from many consultations among exporters, manufacturers, SMEs and other business stakeholders who all had strongly clamored for this reform,” PCCI said.
PCCI said it knows the security and foreign influence concerns of Congress in crafting the law, but said these were not "irremediable."
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