That old familiar promise to make it easier for foreign investors to set up shop in the Philippines has been dusted off once more, when Malacañang announced last week that President Marcos Jr. would soon sign an executive order (EO) requiring government agencies and local government units (LGUs) to cut unnecessary red tape to hasten the entry of badly needed big-ticket investments. The aim is to make the Philippines more attractive to foreign investors who have
What a mess we’re in as a nation. Our country is deeply mired in unprecedented levels of debt, and yet we strut like we’re oozing with surplus revenues that we can invest in a “wealth fund.” Our national debt has reached a whopping P13.5 trillion as of September 2022. We have annual budget deficits because our revenues are constantly lower than our expenses, making our country a perennial borrower. Yet, we preen like a wealthy nation with investible funds. Our government leaders have monikers that are scorching antonyms of “trustworthy,” and yet we want to entrust to their discretion the pension
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