President Rodrigo Duterte signed a law allowing the franchise of the Villar-owned Streamtech Systems Technologies Inc. to provide telecommunications services in the Philippines for 25 years.
Duterte signed Republic Act No. 11089 allowing Streamtech “to construct, install, establish, operate and maintain telecommunications systems throughout the Philippines” for 25 years.
The law signed on October 18 was released to the public on Tuesday, October 23.
Under the proclamation, the telecom company can provide wire/wireless telecom system, national broadband system, mobile and cellular fiber optics, multichannel multipoint distribution systems, switches and their value added services such as transmission of voice, data, facsimile, control signs, audio and video, information services, among others.
The law will take effect 15 days from publication in the Official Gazette.
If the franchise will fail to operate within a year from approval by National Telecommunications Commission (NTC), operate within three years from effectivity of proclamation, and operate continuously for two years, the franchise will be revoked.
The telecom company, Streamtech, is led by the son of real estate tycoon Manuel Villar Jr. and incumbent senator Cynthia Villar. Meanwhile, his brother, Mark, currently serves as the Secretary of the Department of Public Works and Highways.
