This paper presents the current water access in the Philippines and reviews the mandates of the two main water regulatory bodies: the Local Water Utilities Administration and the National Water Resources Board. Identifying various overlaps and ambiguities, this study highlights the need to streamline the unclear economic and technical regulations in managing the sector. In addition, it proposes to improve investment coordination to ensure strategic investments and efficient use of limited financing. There should also be a consolidated database of water service providers, as well as key performance indicators and other data, to better monitor the investments in the water sector.