PLDT welcomes the passage of Republic Act 11659, which amends the 85-year-old Public Service Act.
“In the medium term, we expect that RA 11659 will encourage healthier competition in various industries in the country. In the long term, it will help position the Philippines as an attractive investment destination for foreign enterprises seeking to expand their business in the Asian market,” said Al Panlilio, President and CEO of PLDT and Smart Communications.
“In the case of PLDT, while we support investment-friendly regulations, we have no plans to increase the share of foreign equity at present. We are also waiting for the release of the implementing rules and regulations of the new law, and we welcome any opportunity to support the government in the development of the IRR,” Panlilio added.
