Economist Cielito Habito, in his column “Investment: our crying need” (Opinion, 2/17/14), says the low level of foreign investments in our country, compared to our neighbors, is the reason for the increasing joblessness.
The Board of Investments (BOI) of the Autonomous Region in Muslim Mindanao recently approved the registration of P1.451-billion worth of investments. This is a leap to progress as they indicate surging investors’ confidence in the forthcoming Bangasamoro region. The investments flowed in during the first two months of the year only; they were approved last Feb. 13. This is really a record high, and though this is not yet a reason or a time to rejoice, we are ecstatic.
By Cielito F. Habito
Headlines last week bannered the 27.5-percent joblessness rate reported by the Social Weather Stations (SWS) in the fourth quarter of 2013, a large jump from the 21.7 percent rate reported in the third quarter.
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.