The Supply Chain Management Association of the Philippines welcomes the signing of the amendments to the Public Service Act, which opens certain sectors, particularly transportation and telecommunications, to foreign ownership. As we stated previously, we believe the amended law will encourage innovation in these sectors, usher in foreign investments, and bring in global expertise and world-class best practices. It will foster competition and drive lower costs in the logistics and supply chain sectors, which play a critical role in resilient and responsive businesses. We believe the amended law poises us to take greater advantage of opportunities that are emerging in the global economy as we move past the worst of the pandemic.