UniTeam Senate candidate Gilbert “Gibo” Teodoro on Tuesday stressed the need for government to provide stable investment policies to complement the passage of the three key economic bills aimed to attract more foreign businesses into the country.

The former congressman issued the statement following President Rodrigo Duterte’s signing into law the amendments to the Public Service Act (PSA).

The new law is part of the three key economic bills passed under the Duterte administration meant 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,” Teodoro said.

The former Defense chief vowed to pursue the Project Repeal of the government which aims to revoke outdated rules and unnecessary laws and issuances that affect the country’s investment climate if he wins in the May 9 elections.

“We have opened our doors to foreign investors to contribute to our economic and jobs recovery. Now, we have to ensure that their investments are safe here by providing a stable policy environment for all businesses,” Teodoro said.