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Economy

Duterte pushes FDI liberalization, invites China into telecom sector

Philippine leader wants 'third carrier' set up to challenge the current duopoly

Philippine President Rodrigo Duterte, right, walks with Chinese Premier Li Keqiang during Li's official visit, at the Malacanang presidential palace in Manila on Nov. 15.   © Reuters

MANILA -- Philippine President Rodrigo Duterte's fiery rhetoric may have unnerved foreign businesses, but he still wants their investments to help fund the country's growth.

In one of his most concrete moves to liberalize the economy, Duterte has directed his economic managers to throw their weight behind efforts to ease limits on foreign ownership in eight sectors such as retail, construction and teaching in higher education.

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