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.

Read the rest of Philippines opens public services sector to 100% foreign investment on Thailand Business News

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