By Genalyn Kabiling
The government is open to the entry of other companies to the local telecommunication industry if China backs out from a planned venture.
Presidential spokesman Harry Roque said President Duterte wanted China to become the third telco player in the country but “we don’t know if it will actually push through.”
Roque explained that China must still comply with the country’s constitutional provision limiting foreign ownership of a telecom firm to 40 percent.
“If for any reason this is not acceptable to China Telecoms, then we have no choice. We gave China the option but if this is not acceptable to it, unfortunately we will have to look for other players because we will have to honor what the Constitution provides – 60-40 in terms of owning a telecoms company,” he said during a Palace news conference.
So far, Roque said there were “no indications” that China Telecom does not want to push through with the project.
He said the President made the telco offer during a bilateral meeting with Chinese Premier Li Keqiang last year. It was accepted when China chose China Telecom to set up the third telecom provider in the Philippines, he added.
“We will honor our word,” Roque said.
