Fostering Economic Advancement Without Jeopardizing National Security
June 14, 2021The Philippine senate has set to expedite deliberations on Senate Bill No. 2094 or the Amendments to the Public Service Act (PSA) which aims to amend the 85-year-old PSA by differentiating “public services” from “public utilities’’ and as a result, allow 100 percent foreign ownership of public services that are not considered natural monopolies.
Such measure would encourage the entry of more foreign direct investments (FDIs), which is bound to improve the delivery of public services and lead to the creation of more jobs. However, we must ensure that provisions that recognize telecommunications and common carrier industries as part of our critical infrastructure be adopted and applied.
The senate version of the amendments to the PSA bill places safeguards for our critical infrastructure, guaranteeing layers of security, such as the requirement for foreigners to get approval from the National Security Council. It also bans foreign state-owned entities from taking part in critical infrastructure ownership and control.
The aforementioned provisions are essential as it ensures that the integrity of our country’s critical infrastructure will be upheld and protected. During these times where we have a foreign power both blatantly and insidiously encroaching on our territories and attacking our sovereignty, we must all be vigilant and prevent them from further taking advantage of our resources.
It must be made clear that economic advancement need not come at the price of risking our nation’s security. As we have just concluded our nation’s 123rd Independence Day, let us further advance the ideals of our forefathers, a country that is not only economically competitive but also truly sovereign and free.