An influx of American investments could pour into the Philippines because of confidence in the Aquino administration but restrictions in the professional and retail trade sectors may deter investors, an American business leader in the country said on Monday. “There is renewed interest in the Philippines. The Aquino administration is setting the right tone,” Robert Sears, the executive director of the American Chamber of Commerce of the Philippines (AmCham), told reporters recently.
Sears said that “small” actions such as making the bureaucracy easier to work with, focusing on job creation and putting in place efforts to curtail graft and corruption are earning the new administration brownie points.
He noted that the Philippines was “not in the radar screen for some time,” but American investors are giving the country a second look, especially with a new government in place.
Sears said this is a period when American students are on vacation—that most US businessmen look for investment opportunities abroad.
“When they come over to Asia, they now pass by the Philippines,” he added.
But Sears said that restrictions on the economy and competitiveness issues may still put off potential US investments in the Philippines.
He cited the high capital required for retail investments under the Retail Trade Liberalization Act.
“If capitalization in the retail trade sector [is lowered], there will be a level playing field, and foreign investors will come in,” Sears said.
He added that the limits on professions that foreigners can practice in the Philippines turn off American businessmen.
Sears said that about 45 laws bar non-Filipinos from certain jobs.
“If you ask me, I want reciprocity. If Filipinos can do anything in the US, Americans should also be allowed to do the same here,” he added.
According to the US Trade Representative’s website, US foreign direct investment in the Philippines in 2008 reached $5.9 billion, down 16.3 percent year-on-year. –BEN ARNOLD O. DE VERA REPORTER
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
