Philippines President Duterte signs law allowing full foreign ownership of telcos, airlines, railways

MANILA, March 21 (Philippines Daily Inquirer/ANN): President Rodrigo Duterte (pic) on Monday signed the law amending the 85-year-old Commonwealth Act No. 146, or the Public Service Act, relaxing restrictions on foreigners to completely own businesses in the country.

Specifically, the law would allow full foreign ownership of businesses in select industries such as telecommunications, airlines, and railways.