Philippine president Rodrigo Duterte signs law that allows foreigners to possess full ownership of telecommunications, airlines, mass communications, expressways, tollways, among others.
MANILA: Philippine president Rodrigo Duterte has signed a law that allows foreigners to possess full ownership of telecommunications, airlines, mass communications, expressways, tollways, among others.
On Monday night, Duterte (pic) signed into law Republic Act 11659 amending the decades-old Public Service Act (PSA) that reclassifies these economic sectors as public services, exempting them from the 40% ownership limit under the constitution.
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