PHILIPPINES Law and Practice Contributed by: Rose Marie M. King-Dominguez, Melyjane G. Bertillo-Ancheta and Franco Aristotle G. Larcina, SyCip Salazar Hernandez & Gatmaitan
1. Trends 1.1 M&A Market
provide data transmission services, including inter - net services. The Konektadong Pinoy Act effectively ensures open access to digital infrastructure and ser - vices under the National Telecommunications Com - mission as the primary regulatory authority over data transmission industry participants (DTIPs). Infrastructure Infrastructure development remains a high priority for the Philippine government. Public-private part - nerships are key to driving the infrastructure flagship projects that the Philippine government aims to roll out, such as roads, railways, ports, and airports. Technology IT-based businesses continue to be an active source of deals. Recent amendments to the retail law have relaxed and simplified certain entry requirements. There also appears to be continued growth and inter - est in payment and related financial services. There has been increased interest in the data centre sector, which is expected to grow in the coming years, owing to the ongoing and proposed construction of data centres in various locations in the Philippines. Government statements on AI technology have gener - ally been positive and there may be increased busi - ness activity related to AI use. Energy Projects in renewable energy and gas (eg, liquefied natural gas) have driven activity in the energy sector. This comes amidst ongoing efforts towards a more sustainable and well-balanced mix of energy sources for the country. In 2022, the Philippine government took steps to open up the renewable energy industry to foreign capital. The Department of Energy amended the implementing regulations of the Renewable Energy Act to remove nationality restrictions on the exploration, develop - ment, and utilisation of solar, wind, hydropower, and ocean energy. This move has continued to allow the entry of foreign capital into the renewable energy industry.
The energy sector continues to account for a signifi - cant number of M&A deals as the country continues to recalibrate its energy mix in favour of clean and sustainable energy. Technology-enabled industries and related sectors also remain areas of M&A interest. The Philippine government has been supportive of the ongoing transition into cleaner sources of energy. The Department of Energy’s 2023–2050 Philippine Energy Plan provides a roadmap towards renewable energy having a 35% share in the country’s power generation mix by 2030 from 21% in 2021. 1.2 Key Trends The fairly recent liberalisation of nationality restriction laws in certain sectors (such as public services and renewable energy) resulting in the entry or expansion of global players in the local market has continued to drive deal activity in the Philippines. Key sectors such as energy, infrastructure, and technology saw strong deal activity and remain attractive areas of investment in the country. The Philippines is expected to see continued expan - sion in green and sustainable investments. The Secu - rities and Exchange Commission (SEC) has issued various regulations emphasising environmental, social, and governance principles. The Philippine government also aims to modernise public utilities and infrastructure to strengthen its investment climate and spur economic growth. 1.3 Key Industries Telecommunications and Digital Infrastructure The government continues to take measures to spur growth and competition in telecommunications and digital infrastructure. Following the liberalisation of the telecommunications sector and the recognition that that passive infrastructure operation is a non-tel - ecoms business, Congress has pushed for an open access regime in the digital transmission sector with the passage of the Konektadong Pinoy Act. Effective on 14 September 2025, the Konektadong Pinoy Act establishes a competitive framework for entities to
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