Former Secretary of National Defense and senatorial candidate Gilbert ‘Gibo’ Teodoro has urged the government to provide stable investment policies as it will complement the passage of the three key economic bills aimed to attract more foreign businesses into the country.

Gibo Teodoro, who has vast experience in both the public and private sector, made the statement as President Rodrigo Duterte signed into law the amendments to the Public Service Act (PSA). The newly enacted law is part of the three key economic bills of the government to relax rules for foreign enterprises wanting to do business in the Philippines. The two other laws are the Retail Trade Liberalization Law and the Foreign Investment Law signed in December 2021 and February 2022, respectively.

“Now that we have eased the rules to attract foreign investments here, the government should ensure that future regulations are consistent with the laws,” the former Tarlac congressman and 1989 bar top notcher said.

Once seated in the Senate, Gibo Teodoro aims to pursue the Project Repeal of the government, which aims to revoke outdated rules and unnecessary laws and issuances that affect the country’s investment climate.

“We have opened our doors to foreign investors to contribute to our economy and jobs recovery. Now, we have to ensure that their investments are safe here by providing a stable policy environment for all businesses,” the senatorial candidate said. (gibo.ph)