What used to be a slow trend towards digitalization rapidly accelerated as a result of the coronavirus outbreak.
Based on the latest Foreign Direct Investment (FDI) regulatory restrictiveness index of the Organization for Economic Cooperation and Development (OECD), the Philippines obtained a score of 0.374 on a scale of 0 (open) to 1 (closed). In terms of ranking, the Philippines has the third most restrictive FDI rules out of 83 countries included in the OECD’s study.
Section 35 of Republic Act No. 10667, otherwise known as the Philippine Competition Act (“PCA”), provides that the Philippine Competition Commission (“PCC”) shall develop a Leniency Program (‘Program”) for a participant in an anti-competitive agreement as provided in Section 14(a) and 14(b) of the PCA.
Last 15 December 2021, Senate passed on third and final reading Senate Bill No. 2094, which seeks to amend Commonwealth Act No. 146, otherwise known as the Public Service Act (PSA). The Senate Bill attempts to streamline and liberalize the current restrictions placed on the ownership, management, and control of public utilities and public services.