THE Konektadong Pinoy bill is expected to demonstrate a simplified regulatory regime to foreign investors that will serve to attract investors in digital infrastructure, the Financial Executives Institute of the Philippines (FINEX).
FINEX said on Monday that the bill will address long-standing gaps in digital infrastructure by, among others, removing the congressional franchise requirement for internet service providers.
“The bill sends a strong signal to global technology firms and hyperscalers looking to expand in Southeast Asia. Streamlining the regulatory environment could help the Philippines attract foreign investment in data centers, cloud infrastructure, and digital services, critical enablers for a modern, competitive economy,” FINEX said.
The Konektadong Pinoy bill is now with the Palace for President Ferdinand R. Marcos, Jr.’s signature. It had been ratified by legislators in both chambers of Congress.
The measure also relieves new data transmission entrants of the need to obtain a certificate of public convenience and necessity.
The Philippine Chamber of Telecommunications Operators has declared its opposition to the bill on cybersecurity grounds.
The measure also directs the government to incentivize participants in the data transmission industry to invest in, adopt, roll out, implement, establish, own, maintain, operate, or utilize new and next-generation technologies, with priority given to unserved or underserved areas.
“The bill sends a strong signal to global technology firms and hyperscalers looking to expand in Southeast Asia. Streamlining the regulatory environment could help the Philippines attract foreign investment in data centers, cloud infrastructure, and digital services, critical enablers for a modern, competitive economy,” FINEX said.
FINEX said it also supports reforms that align policy with inclusive growth and encourages reform and upgrade of digital transformation.
“Furthermore, the shift away from legislative franchises must be complemented by clear and transparent regulatory processes to prevent fragmentation and ensure a level playing field,” it said. — Ashley Erika O. Jose
