ADVERTISEMENT
Tuesday, June 24, 2025
  • Login
  • Register
Cart / $0.00

No products in the basket.

Thailand Business News
  • Asean
    • Cambodia
    • Indonesia
    • Malaysia
    • Myanmar
    • Philippines
    • Singapore
    • Vietnam
  • Banking
    • Cryptocurrencies
  • Business
    • Companies
    • Investment
  • China
  • Economics
  • Investment
    • SET
    • Markets
  • Real Estate
  • Tech
  • Tourism
    • Travel
    • Visa
  • Trade
  • video
  • |
  • PR News
    • Media OutReach Newswire
    • PR Newswire
    • MarketersMEDIA Newswire
    • Submit a Press Release
No Result
View All Result
  • Asean
    • Cambodia
    • Indonesia
    • Malaysia
    • Myanmar
    • Philippines
    • Singapore
    • Vietnam
  • Banking
    • Cryptocurrencies
  • Business
    • Companies
    • Investment
  • China
  • Economics
  • Investment
    • SET
    • Markets
  • Real Estate
  • Tech
  • Tourism
    • Travel
    • Visa
  • Trade
  • video
  • |
  • PR News
    • Media OutReach Newswire
    • PR Newswire
    • MarketersMEDIA Newswire
    • Submit a Press Release
No Result
View All Result
Thailand Business News
No Result
View All Result

Philippines opens public services sector to 100% foreign investment

Akanksha Singh by Akanksha Singh
May 11, 2023
in Philippines
Reading Time: 2 mins read
A A
Share on LinkedinShare on TwitterShare on Facebook

The Philippines has recently passed a landmark legislation that opens up its public services sector to 100 percent foreign investment.

The amended Public Service Act, which was signed into law by President Rodrigo Duterte in March 2023, aims to attract more foreign capital and technology to improve the quality and efficiency of public services in the country.

Public services are activities that serve the common good of the people, such as transportation, communication, water supply, electricity, and postal services. Under the previous law, public services were considered as public utilities, which were subject to constitutional restrictions on foreign ownership. Only Filipino citizens or corporations with at least 60 percent Filipino equity could operate public utilities.

The new law clarifies the distinction between public services and public utilities, and limits the latter to natural monopolies that are essential for national security and public welfare. These include electricity transmission and distribution, water pipeline distribution and sewerage, and public utility vehicles. Foreign ownership in these sectors remains capped at 40 percent.

However, other public services that are not natural monopolies or critical infrastructure are now open to full foreign ownership. These include railways, airports, expressways, telecommunications, airlines, shipping, and irrigation. The law also provides safeguards to protect national security and consumer rights, such as giving the President the power to suspend or prohibit foreign investments in public services upon recommendation of a competent authority.

The amended Public Service Act is expected to boost the Philippines’ competitiveness and attractiveness as an investment destination in Southeast Asia. It will also help address the country’s infrastructure gap and enhance the delivery of public services to the Filipino people.

RelatedArticles

Philippine Stock Exchange surpasses 2 million stock market accounts

Rising Demand for Data Centers Drives Growth of Digital Infrastructure in the Philippines

Philippines-based Mober expands to Thailand, introducing logistics services to manage IKEA deliveries

Previous Post

Bank of Thailand to loosen yuan usage restrictions

Next Post

Thailand’s consumer confidence index (CCI) at 38-month high

Akanksha Singh

Akanksha Singh

Akanksha Singh is an Indian journalist based in the bustling city of Bangkok, Thailand. With a degree in Mass Communication and years of experience, she has become a trusted voice in reporting on Southeast Asian affairs.

Siam News

160 Robinson Road
#14-04 Singapore Business Federation Centre, Singapore 068914

Business Pages

  • Thailand Business Visa requirements?
  • Thailand’s Regulations on Cryptocurrencies and Digital Assets
  • Exchange Control Regulations in Thailand
  • Personal Income Tax in Thailand
  • Foreign Business Act : Who are considered foreigners?
  • Investment in Thailand
    • Conversion and Transfer Policies
    • Dispute Settlement
    • Requirements and Incentives

Subscribe notifications via Email

Enter your email address to subscribe and receive notifications of new posts by email.

SNN

  • Siam News Network
  • Thailand Business Directory
  • Thailand China News
  • Thailand PR News
  • ข่าวธุรกิจประเทศไทย
  • 泰国中国商业新闻
  • 泰国商业新闻
  • About
  • Submit a Press Release
  • Advertising
  • Community Standards
  • Contact Us
  • Cookie Policy
  • Copyright
  • Disclaimer
  • Internships
  • Newsletter
  • Privacy Policy
  • Principles of Ethics and Journalism Standards
  • RSS Terms
  • Terms of Use
  • English
  • ไทย
  • 中文 (中国)

© 2024 Siam News Network

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Login
  • Sign Up
  • Cart

© 2024 Siam News Network

  • ไทย
  • 中文 (中国)

Discover more from Thailand Business News

Subscribe now to keep reading and get access to the full archive.

Continue reading

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?