If Senate Bill No. 2094 in the Philippines becomes law, businesses in the public services sector will need to exercise heightened vigilance in ensuring compliance to the following changes from Senate Bill 1754: (1) The following public services are considered “critical l infrastructure” under Senate Bill 2094: telecommunications, air carriers, domestic shipping, railways and subways; and (2) “Critical infrastructure” is defined as “systems and assets, whether physical or virtual, so vital to the Republic of the Philippines that the incapacity or destruction of such systems or assets would have a debilitating impact on national security.” While they will not be considered as “public utilities,” they are nevertheless subject to certain restrictions. This strategic bill will certainly attract foreign investments and that’s why if our proposed two (2) Texas Series LLCs become successful, we can definitely entice Wall Street MNCs to fund critical infrastructure projects in the Philippines. In this way, the creation of a modern Metro Manila in Quezon Province along
xcii
Powered by FlippingBook