Philippines’ Public Service Act was amended to open certain sectors, previously considered public utilities, to 100% foreign ownership.
In accordance with the Philippine government’s drive to attract foreign investment, the amendments are expected to promote investment flow.
By changing the definition of “public utility,” the PSA Amendment effectively allows full foreign ownership of entities traditionally considered to be public utilities. Subways, airports, airlines, railways, expressways, and tollways are some of these sectors.
Ciselie Marie T. Gamo-Sisayan, partner with Philippines Law Firm, DivinaLaw, spoke to us about how the amendments will benefit businesses looking to invest in the Philippines.
Listen to the full podcast below.
