While you were sleeping: Congress basically amended the Constitution by amending the Public Services Act, removing foreign ownership restrictions on telecoms, domestic shipping, railways+subways, airlines, expressways+tollways+airports by declaring they are not public utilities.
I've been following this story for years, and written six columns on the topic. The whole inspiration for the effort to get around the Constitution was to allow China Telecoms to come in as the third player in our telecoms industry.
https://twitter.com/mlq3/status/1470936860700471301?s=20&t=PTbw23YJY1ymmZP-6SWpMA
The Blog Heneral Lunacy while moderately in favor of this move, does at least warn of two things: its corruption, not ownership restrictions, that limits foreign investments; the amendments allow a lot of presidential discretion in the future. heneralunacy.wordpress.com/2022/02/10/the…
An informative article. bworldonline.com/congress-ratif…
My commentary on this: quezon.ph/2022/02/13/con…
Oh, and our neighbors? freshfields.com/en-gb/our-thin…
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