Insight:

Philippines: President approves law removing foreign equity restrictions on public

service companies

. This article contains about the Philippines which our President Rodrigo Roa

Duterte signed and approves the law. Regarding removing foreign equity restriction on

public service companies on March 22 2022. The Republic Act No. 11659 will become

effective on April 9, 2022. Within the given effective date the Philippines is now has a

Public Services law that which all Foreign nationals are allowed to own more than 50%

of capital in public services engaged in the operation and management of critical

infrastructure, but only if the country of such foreign nationals accords reciprocity to

Philippine nationals under foreign law or a treaty.

Moreover, according to my research on CNN, the Republic Act 11659 allows

100% foreign ownership in telecommunications, railways, subways, and airlines. It also

retains the 40 percent capital for public utilities such as the distribution and

transmission of electricity, petroleum products, pipeline transmission systems, water

pipeline distribution systems, wastewater pipeline systems, seaports, and public utility

vehicles.

This law will create a huge impact on our country. Thru of this many foreign

investors persuasion to invest in the country because this will create more opportunities

for them to grow their business even more. When this law implements it also has

advantages not only for those foreign investors but also for those people who live in the

Philippines because if one investor invests their business in our country they surely

need a person to become their helper. In that way, the number of unemployed in our

country will be lessened. As the result, theirs are huge chance that our economy will

grow as the years goes by.

 Lastly, in my point of view, this Republic Act will help our country in many

aspects first it will help our country's economic growth foreign Investment may help a

country's economic development by providing a more favorable environment for a

variety of firms. Second International trading will become easier for our country

because we have many connections. Last it will affect our economy there are many

unemployed become employed and this will create an economic boost. On the other

hand, I guess this law will help our economy to make our country better.