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Government employees who dedicate their lives to public service are hard to come by. But one person fills the bill, and her name is Lilia B. de Lima.
By Peter Wallace
Last week I talked about the Metropolitan Waterworks and Sewerage System’s abrogation of its contract through the exclusion of tax it had committed to include. But there were other questionable decisions it made. It said there were some errors in the financial reports submitted by the concessionaires, but these are relatively minor items that could have been clarified with the latter, particularly as the external, independent auditors had found no such faults.
Four government agencies involved in investment promotion have reported a 39-percent jump in investment registrations to P301 billion in the first six months of 2013. The Board of Investments (BOI), Philippine Economic Zone Authority (Peza), Subic Bay Metropolitan Authority, and Clark Development Corp. have all credited this to the improved investor confidence in the Aquino administration. The government is aggressively courting foreign companies to set up shop in the Philippines. The Department of Trade and Industry and its attached agency, the BOI, have recorded 363 companies and organizations that sent representatives to the country in the first half of the year. Peza has also reported an increase in the number of missions visiting its offices.
By Peter Wallace
I am pleased to see that President Benigno Aquino has created a task force to make it easy to start and do business in the Philippines. But it seems the task force has no chance to succeed. Simply because it’s not a separate, independent body of full-time members. It’s just a group of representatives from [...]
Be wary about investing in stocks. Like any other activity where one can lose money, the stock market is not for the faint of heart.
By Fr. Joaquin G. Bernas S. J.
I am not saying that I can name specific foreign investors who are ready to pull out. But there must be a good number of them. This I surmise from a joint letter to Finance Secretary Cesar Purisima from the heads of various foreign chambers of commerce in the Philippines.
By Teresita J. Herbosa
One of the frequently asked questions regarding investment scams is: Why do people continue to fall for such scams, despite numerous education or financial literacy campaigns, notices, advisories, alerts and warnings from public and private organizations as well as the media?
Entice investors with the promise of extremely high returns (ranging from a low 4 percent to a high 29 percent or even higher per month).
Filipinos have reason to face the new year bursting with hope. That is, insofar as the economy is concerned. From all indications, Asia’s best performer in 2012 is headed for another banner year.
By Cielito F. Habito
I LIKE to describe Muslim Mindanao as a gem in the rough. I’ve already written on the region’s key assets as a prime investment area: superior agro-climatic conditions, abundant primary resources, large tracts of idle lands, and wage rates lower than elsewhere in the country. And with the Muslim majority population in Southeast Asia, the region possesses a natural edge in meeting demands for goods and services in the wider Asean market.
By Peter Wallace
“If it ain’t broke, don’t fix it.” Well, it is broke. The Philippines has been the poorest performing country among its comparable neighbors over the past 30 years. There are many reasons for this, but paucity of job-creating, wealth-creating investment is certainly one of the principal ones.
In the ongoing debate over the $1-billion loan pledged by the Bangko Sentral ng Pilipinas to the International Monetary Fund, the Aquino administration has taken the view that the Philippines is part of the global community where the more stable economies are bound to help those in need. But critics point out that millions of Filipinos are mired in poverty and that $1 billion can do wonders to ease their plight. Many say that the country would be better off using the money to build roads and classrooms, or pay its debts.