(San Miguel Corporation / MANILA BULLETIN)
The new laws, recently posted on the Official Gazette, include the franchise renewal of six broadcasting stations, two power companies, one airport development firm, and one race track company.
A measure granting San Miguel Aerocity Inc. a franchise to construct, develop, establish, operate and maintain a domestic and international airport in Bulacan has also lapsed into law.
Republic Act No. 11506 also allowed the company to build and operate an adjacent airport city. The law also stated the responsibility of the franchise holder to the public, including conforming to ethics of honest enterprise, operating in line with sustainable development goals, and compliance with environmental and sustainability standards.