Fully foreign-owned telcos can soon operate in the Philippines once President Duterte signs the proposed shorter 11th Foreign Investment Negative List (FINL), the country's chief economist said Thursday. However, Socioeconomic Planning Secretary Ernesto M. Pernia told a press conference that foreign telcos can participate locally by "up to 100 percent" only upon the amendment of the antiquated Public Service Act or Commonwealth Act No. 146. Pernia, who heads the state planning agency National Economic and Development Authority (NEDA), later explained to reporters that even if the President signs the proposed 11th FINL, the provision on telco cannot be implemente...
Keep on reading: Pernia: 100% foreign-owned telcos can soon enter PH
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