Ambassador Harry K. Thomas has urged Congress to do its bit to work on Philippine laws that restrict foreign ownership of land and pave the way for the inflow of investments into the country.
He said the restriction is one of the several reasons American investors shy away from doing business in the Philippines.
The US envoy aired his views during roundtable discussions on Tuesday at the Xavier University.
Thomas said that although there were a number of American investors coming in, their investment was insignificant compared to other Asian countries where US investments the flare considerably helping their economies.
Thomas said American investors who would be doing business here are keen on renewable-energy projects, particularly in Mindanao.
Earlier, the Board of Investments disclosed that 95 percent of investments in the country are domestically sourced and only 5 percent are foreign.
Thomas said US investments in Asian countries account for $150 billion—$100 billion in Singapore and the rest in Japan and South Korea.
But he said that despite the lack of foreign investment in the Philippines, the US has considerably helped the country in terms of grants, which created jobs.
“It’s now up to the Philippine legislators to make their country an investment destination. And once the investment climate has changed, the Philippines would have a high satisfaction rating that would draw foreign investors, particularly from the US,” he said. –Business Mirror
http://businessmirror.com.ph/home/to…-in-phlthomas
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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