Local business groups have joined their foreign counterparts in opposing moves to impose 60-40 Filipino-foreign ownership requirements in transportation and telecommunication, as well as power generation.
The Philippine Chamber of Commerce and Industry, Employers Confederation of the Philippines, Philippine Exporters Confederation Inc., Supply Chain Management Association of the Philippines and the Export Development Council in a joint statement have expressed opposition to plans to return transportation and telecommunication, as well as power generation back to the definition of Public Utilities as being deliberated in the Senate as part of the amendments to the Public Services Act.
The groups noted the concerns raised by Congress over security and foreign influence are not irremediable, adding that lawmakers may undertake safeguard measures and strengthen governmental institutions to ensure the country’s sovereign interests shall be upheld.
“Our position on transport and telecom has been affirmed by the results (of) many consultations among exporters, manufacturers, small and medium enterprises and other business stakeholders who all had strongly clamored for this reform,” the business groups said.
On power generation, the groups said they had widely welcomed the Electric Power Industry Reform Act’s provision to open the sector to local and 100 percent foreign private investors, saying this would meet the critical power needs of the country’s growing economy and support fuel-intensive manufacturing industries.
The groups identified four factors to production that have been preventing the Philippines from developing the much-needed supply chains and from maximizing the potentials of our industries.
These are high inter-island shipping rates, expensive and unreliable internet connection, unreliable power supply, and inadequacy of infrastructure.
The groups said the country is in need of urgent and massive upgrades to speed up and improve the telecommunications system as highlighted by the pandemic.
“We get daily experiences on service interruptions, technical glitches, and lack of internet that in this period and age can make or break a business, disrupt the online delivery of government services and e-learning. Every second the Philippines is offline because of the inability of our current providers to keep us connected is a second that the Philippines is closed for business,” they said.
“We urge the Senate to be bold in this particular policy decision. We have seen how timely and appropriate policy decisions elsewhere have led to significant positive results and these are inspirations that we can learn from and adopt,” the groups added.
