Duterte Plans to Open Telecom And Power Industries to Foreign Investors. READ HERE!

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Recently, President Duterte attended the Asia-Pacific Economic Cooperation Summit in Lima, Peru. However, when it was his turn to deliver his speech, he digressed from the topic and discussed 'opening up' the Philippines instead for foreign companies. He said that he plan to open the telecommunications, energy and information and communication technology sector to more 'players' to improve the said sectors. He shared that the government is now considering  “regulatory requirements and institutional arrangements to hasten the entry of new players in the power industry and energy sector.” 

“The Philippines acknowledges the significant role of more vibrant telecommunication and power industries to be able to participate in the global market with a competitive edge,” he said.

“In the area of communications, we’re finalizing our plans to open up information and communications technology industry to new players in order to promote competitiveness and improve the quality of service,” he added.

“My decision now is, this moment is, I will open up the Philippines. Or else you can count with your fingers in one hand, the power players in this country. I would not say that you are the elite because it would (have) another connotation,” 

 “I told them all (that) the only way for the deliverance of this country is to remove it from the clutches of the few people who hold the power and money.”

“I’d just like to send this strong message… It’s about time that we share the money of the entire country and to move faster, make competition open to all,” 

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