Foreign companies keen on investing in PH
May 6, 2022
"Better services but lower prices will be our goal without sacrificing our local businesses and the consumers. We have put safeguards, such as penalties for erring companies offering public services, and we have established a stringent set of requirements for vulnerable sectors and vetting of all potential investors," Garin said.
She stressed the need for economic and technology exchange in the country, which has been lagging behind some neighboring countries and are further hampered by the economic shutdowns during the community quarantines.
"An inflow of capital and better technology is a great step toward reviving our economy," Garin said.
The Public Service Act amendments modified an 85-year-old act to change the legal definition of "public services" and those that are blanketed by the category of the "public utilities" industry.
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