Economic Liberalization

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KITT vs KARR: Systems & Algorithms Matter         How does Federalism work?         Marina Bay Sands is One Big Foreign Direct Investment         A Head of State and A Head of Government         No Parliamentary System, No LKY & No Mahathir         Rizal the Federalist; Bonifacio the Unitarian         Foreigner: Pinoy Inability to Improve is due to Escapism         The Philippines is run like a Mafia Network         Tacloban Tragedy: A Painful Wake-up Call         Ang Hagupit ng Bagyong Yolanda         The Coming Fall of the “Noynoy Project”         The Parable of the Mountain Bike         US Government Shutdown: The Presidential System Sucks         Infographic: Solutions to the Root Causes of the Pork Barrel         Nápoles & Pork Barrel: It’s the Lousy System         1987 Constitution Kicks FedEx Out         Benign0 is just as clueless as “Benigno”         Polls aren’t just for Metro Manila: Why Federalism?         Nancy Binay – Don’t hate the player, hate the game!         Should the Philippines Turn Parliamentary?         Chicken or the Egg: Culture Change or System Change?         Lynching Laurel         Constitutional Change Now         A Tale of Two Countries         Making the economic comeback w/ higher private FDI         Tables and Ladders (Exposing Esposo, Part 2)         It’s all about Competition         It’s the Economy, Student!         ‘Sensya na po, Sir…’         Let’s Talk Basketball – by Figo Cantos         Sen. Enrile Solidly Supports Parliamentarism         Crucifying Cruz         The CoRRECT™ Three Point Agenda         The Parliamentary System: Would it produce better leaders?         Problems of Presidentialism & the US Exception         A Good Constitution Must Reduce the Impact of a Bad Leader         Sen. Claro M. Recto on the Presidential System         Philippine Progress: Shift in Sports, Shift in System         Exposing Esposo         2 Filipinos: A Football Legend & A Spanish Prime Minister         The Parliamentary System Fits the Philippines         Sen. Pangilinan & the Parliamentary System        

Dismantle Protectionism. Attract investors. Create more jobs. 

The current 1987 Constitution unfortunately sets so many restrictions on economic activities, setting up protectionist provisions that limit businesses in the Philippines to a minimum of at least 60% ownership by local Filipinos, and a maximum of 40% by foreign investors. For advertising companies, it limits ownership to a minimum of 70% by local Filipinos and at most 30% by foreigners. Media companies must be owned 100% by local Filipinos.

As such, unlike in other countries that do not have such restrictions on foreign investment thus making those countries viable and attractive destinations for Foreign Direct Investment, the Philippines has great difficulty in bringing in foreign investors who often are capable of creating lots of jobs and are often able to provide high quality skills training and provide Filipinos with exposure to higher standards of operation and business systems.

Job creation is thus much faster and on a larger scale in countries that allow easy-entry of Foreign Direct Investment. Since there are not that many local Filipino entrepreneurs creating many jobs coupled with the dearth of foreign investments due to the protectionist economic provisions in the Constitution, unemployment is extremely high in the Philippines, forcing Filipinos to leave their families, loved ones, and children behind while seeking basic employment in other countries.

By removing all economic restrictions and protectionist provisions in the 1987 Constitution, it will become much easier for the Philippines to be able to more readily attract foreign investors and multinational companies to invest in the Philippines and help create jobs for locally-based Filipinos. As a result, Filipinos will have less need to pack their bags and leave their families to work as overseas workers in faraway lands.

Read this article to learn more about it.

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