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. The copy she has with her is still the original version.
“Ako (Me) open naman ako (I am open), open ako dito sa (I’m open to the) intent ng batas. Gusto ko lang masiguro na may (of the law. I only want to make sure that there are) safeguards na hindi naman madedehado 'yung mga Pilipinong nga investors (that Filipinos investors will not be at a disadvantage),” 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 (But we are just making sure, we are just making sure of the) safeguards (I am looking for). Safeguards para sa mga Pilipinong investors na hindi naman sila madehado (These are safeguards for Filipino investors that they won’t be at a disadvantage),” 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 (PSA).
READ: Foreign businessmen hail Senate approval of Public Services 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.
Railways and subways will also be considered public services, and not utilities, under the bill.
Public utilities—referring to the distribution of electricity, the transmission of electricity, and water pipeline distribution and wastewater pipeline systems, airports, seaports, and public utility vehicles—will still be covered by the citizenship requirement.