Finance Secretary Carlos Dominguez III said the regulatory environment in the telecommunications sector should be improved to pave the way for additional potential players to come in.
Dominguez said the Philippines had the lowest 4G frequency in the region which meant that “the regulations here is not up to par.”
“It is either the law or the regulations. We have to address that first… we have to go down to the basic issues of the industry,” Dominguez said at the weekly Kapihan sa Manila Bay forum in Malate, Manila.
“If regulatory issues are not resolved, we will end up in the same [current] situation,” Dominguez told reporters.
President Rodrigo Duterte earlier said he wanted to deliver on his promise to provide reliable and affordable telecommunication services to Filipinos, as he pushed for the entry of a new major player to complete with the duopoly of PLDT Inc. and Globe Telecom.
“A draft terms of reference for the entry of a new, major industry player is at hand. The terms will be fair, reasonable and comprehensive. It will be inclusive so it will be open to all interested private parties, both foreign and local,” Duterte said.