Making himself subservient to multinational interests
By proving his worth as a vassal to multinational interests and of course, both US and Chinese imperialists would say that Duterte and his allies in the legislature, with the prodding of the IMF-trained technocrats and supported by a cheering squad of neoliberal apologists are aggressively pushing for the passage of amendments to the Public Security Act made by Congresswoman Garin.
This "reform", which he certified as "urgent" part of his legislative agenda, was approved last February 18, and like the recent writeup states that the amendment will remove utilities, transportation, and telecommunications from the definition of "public services" in order to enter foreign investments with the right of foreigners to take over existing enterprises engaging with those sectors.
This scheme also demonstrates Duterte's subservience to finance capital and imperialism as the amendment as part of imposition by multinational interests to "completely liberalise" the economy that benefits foreign monopoly capitalists.
But with the recent closure of Wells Fargo and Honda Motors in the Philippines and the leaving of its thousand Filipino workforce adrift would expose the other side of a foreign investment depended economy. "They're there when it's profitable for them and out when it's not" like what happened to Intel, Hanjin, and other multi/trans-nationals. It is not surprising, but there isn't anything the Philippine government can do to support them and keep them here. Not that it should.
And to think that these establishments end closed by their foreign owners out of their reorganisation, then this is the harshest lesson from neoliberal globalisation that thrives on international capital and outsourcing of global commodities to extract profits from the vast local-based workforce that's affected by the closure. This hard lesson such as brought by Honda would say that the country failed to promote domestic-based development by seriously taking the idea of industrialisation, the promotion of Filipino-initiated science and technology, and an active support for "really" local enterprises such as local automotive works, steel industry, and others of major importance to a really developing national economy.
Anyway, to cite Sonny Africa of IBON, that "supporting Japanese, Finnish and US firms is for the Japanese, Finnish and US govts to do - which they've already done to make Honda, Nokia and Wells Fargo the giants they are today. (Even if the Finnish govt apparently recently decided to hang up on Nokia.)...It'd be different if these were a Filipino car manufacturer, cellphone maker, or financial firm. You know, if we'd done national industrialization and had these."
Perhaps once the amendment is passed, Duterte and his camarilla are set to profit from foreign contractors for unsolicited proposal and concessions that are to be negotiated. Compradores may also benefited from the amendment as well given its trade and commerce-centred field, all at the expense of the local industry.