Limits on foreign ownership of the Philippine telecom industry should be lifted to attract investment and improve its service, a senior Cabine official said Thursday. “If we want to attract foreign direct investment, they have to have a larger stake in the investment,” he told reporters. President Rodrigo Duterte, who took office last year, has repeatedly called on the telecom industry to improve its service, threatening to bring in “new players” to improve competitiveness and quality. In November last year, Duterte said the country needed foreign investment to improve its telecom and power sectors. “I will open the Philippines so this (poor service) will all be gone,” he warned.

Source: The Standard July 20, 2017 13:41 UTC