Robredo wants safeguards in bill allowing foreign ownership of public services

While presidential aspirant Vice President Leni Robredo agrees that more foreign investments are needed to improve public services in the country, she wants to make sure that there are safeguards for Filipino investors in the recently-passed bill that will allow foreign ownership of public services.Robredo said on the sidelines of her Vaccine Express initiative at the Mall of Asia in Pasay City that she asked for a copy of the final bill that the Senate approved on Dec. 15.

“Ako open naman ako , open ako dito sa intent ng batas. Gusto ko lang masiguro na may safeguards na hindi naman madedehado ‘yung mga Pilipinong nga investors ,” she told reporters on Thursday, Dec. 16. The Vice President said that the public sector “really needs” a fresh surge of foreign investments to improve its capacities.

“Pero siguruhin lang, siguruhin lang ‘yung hinahanap ko safeguards . Safeguards para sa mga Pilipinong investors na hindi naman sila madehado ,” Robredo stressed. On Wednesday, December 15, Senate voted 19-3-0 for Senate Bill No. 2094, which aims to amend the Commonwealth Act No. 46 or the Public Service Act .Under the bill, public utilities, which will be considered natural monopolies, will still need 60 percent Filipino ownership while sectors not considered public utilities such as telecommunications, airlines, and the domestic shipping industry will not be covered by the citizenship requirement anymore.

Pagkatapos nyang siraan ang gobyerno sa buong mundo, merun pa kaya magtitiwala sa kanya na foreign investors?

Is this not covered in the Foreign Investment Act of 1991?

Like the Soap? Or more barriers to investment? We need deregulation, not more of it.

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