House approves bill allowing foreign ownership of telecommunication, transportation companies

The House on Tuesday approved on third reading a bill that will allow foreign ownership of telecommunication and transportation companies in the country.

House Bill 78 authored by Albay 2nd District Rep. Joey Salceda, if signed by the president into law, will remove telecommunications and transportations from the list of public utilities that limit foreign ownership to 40 percent and 60 percent for Filipinos.

136 voted in favor and 43 voted against the measure.

Congressman Edcel Lagman said the measure contradicts article 12, section 11 of the Constitution which reserves the right of at least 60 percent ownership, operation, control and management of public utilities to Filipino citizens.