PH ready for foreign investors in telcos, airports, roads: Diokno

ABS-CBN News

<p>MANILA - The Philippines is ready to welcome revenue-generating foreign investments in telcos, airports and other industries, Finance Secretary Benjamin Diokno said. </p><p>The amended Public Service Act (PSA) has liberalized several industries such as telcos, allowing 100 percent foreign ownership.</p><p>“Foreign investors are now welcome to bring their capital into the country, especially in the fields of telecommunications, airports, toll roads, and shipping,” Diokno said during the recently concluded Standard Chartered Bank (SCB) Sovereign Investor Forum on October held at the Ritz-Carlton in Washington, D.C.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/03/21/22/duterte-signs-psa-allowing-foreign-ownership-of-telcos">Duterte signs amended Public Service Act allowing full foreign ownership of telcos</a></li></ul><p>Aside from encouraging investments to the country, the Department of Finance said Diokno briefed potential investors on the Philippines economic outlook, fiscal policies and its Medium-Term Fiscal Framework.</p><p>“The Framework promotes transparency and credible commitment to pursue our socioeconomic goals while ensuring that the fiscal deficit will return to pre-pandemic levels and the debt ratios to more sustainable levels,” said Diokno.</p><p>“Overall, the Medium-Term Fiscal Framework aims to promote sustainable long-term growth and sound fiscal management,” he added.</p><p>The economic team of President Ferdinand &quot;Bongbong&quot; Marcos Jr. is dealing with elevated inflation, high interest rate, depreciating peso against the US dollar, ballooning debt, widening trade deficit, delayed poverty reduction goals and the scarring impact of the COVID-19 pandemic, among others.</p><p>Diokno said headwinds could be mitigated by following the 8-point economic agenda which includes lowering the debt-to-GDP ratio, generating more jobs and sustaining a robust economy, among others.</p><p>Aside from the PSA, Diokno also championed the country&#x27;s &quot;game-changing reforms&quot; that are seen to bring back its high-growth trajectory including the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) and the amendments to the Retail Trade Liberalization Act, and Foreign Investments Act. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/26/22/the-marcos-administrations-8-point-economic-agenda">LIST: The Marcos administration&#x27;s 8-point economic agenda</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2172037" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The Philippines is ready to welcome revenue-generating foreign investments in telcos, airports and other industries, Finance Secretary Benjamin Diokno said.

PH ready for foreign investors in telcos, airports, roads: Diokno | ABS-CBN

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PH ready for foreign investors in telcos, airports, roads: Diokno

PH ready for foreign investors in telcos, airports, roads: Diokno

ABS-CBN News

Published Oct 17, 2022 10:03 AM PHT

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Economy

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