At Freedom Dinner 2023 on November 16, Foundation for Economic Freedom, based in the Philippines, was announced as this year's winner of Atlas Network's prestigious Templeton Freedom Award and its US$100,000 prize. The Templeton Freedom Award is generously sponsored by the Templeton Religion Trust.
For nearly a century, restrictive laws in the Philippines paved the way for monopolies and stifled foreign investment in telecommunications, transportation, and renewable energy—making these crucial public services less accessible. Thanks to the Foundation for Economic Freedom’s seven-year effort, the Philippine government amended the country's Public Service Act and the Implementing Rules and Regulations of the Renewable Energy Act, opening the door to foreign investment and competition in these key industries.
These changes give ordinary Filipinos more affordable and reliable access to wireless broadband internet, mass transportation options, and more. And now, renewable energy sources such as solar, wind, and tidal energy can help provide electrification in even the most remote areas. In what was previously the world’s third most restrictive country for foreign investment, market competition is already bringing better services and energy access at lower costs for over one hundred million Filipinos.
About the Templeton Freedom Award:
Named for the late investor and philanthropist Sir John Templeton, the Templeton Freedom Award has annually honored his legacy. Since 2004, the Award has identified and recognized the most exceptional and innovative contributions to the understanding of free enterprise, and the public policies that encourage prosperity, innovation, and human fulfillment via free competition. The Templeton Freedom Award is generously supported by the Templeton Religion Trust and was presented during Atlas Network's Freedom Dinner on November 16 in New York City. The winning organization will receive a US$100,000 prize, and all other finalists received US$20,000 prizes. Find out more about the award HERE.