A House leader is looking forward to seeing the positive effects of Republic Act (RA) No.11659 or the Public Service Act, which President Duterte signed last week.

“Opening up some of our industries like telecommunications, railways, and airlines to full foreign ownership will attract investors, which will in turn create more jobs for our countrymen," San Jose Del Monte City Rep. Florida “Rida” Robes said in a statement Monday, March 28.

"This is what our country needs at this time when we are starting to recover from effects of the pandemic,” Robes said, adding that the new law would "spur development" in the Philippines.

The lady lawmaker authored House Bill (HB) No. 78, which was the Lower House’s version of the amendments to the Public Service Act.

The law relaxes restrictions on foreign investments by allowing foreign investors to invest in a local enterprise up to 100 percent of its capital.

However, the following industries will still be subject to the 40 percent foreign equity cap: distribution of electricity, transmission of electricity, petroleum and petroleum products, pipeline transmission systems, water pipeline distribution systems and wastewater pipeline systems (including sewage pipelines), seaports and public utility vehicles (PUVs).

With new investments, RA No.11659 is expected to lower prices, improve the quality of goods and services, and introduce innovation that will directly impact the economy and the lives of every Filipino, Robes said.

“I am proud to have been part of the momentous event that will bring us back on track towards economic recovery and growth,” said the solon, who one of the those invited to Malacañang when President Duterte signed the measure into law last week.

Robes chairs the House Committee on People's Participation. She also holds vice chairmanships in four other committees.