Congress has ratified a bill amending the Public Service Act - easing foreign equity restrictions on various industries.
A bill easing foreign equity restrictions on various industries is now up for President Rodrigo Duterte's signature.
The bill - which is among Duterte's legislative priorities - allows 100% full foreign equity in all economic sectors, except public utilities such as the distribution and transmission of electricity, petroleum and petroleum products pipeline transmission systems, water pipeline distribution systems and wastewater pipeline systems , seaports, and public utility vehicles.
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