“Foreign businesses are wary of the Philippine’s unstable legal system, violence, and bureaucracy,” said CNBC.
According to Sergio Ortiz-Luis, president of the Philippine Exporters Confederation, “investors, particularly exporters, were getting tired of waiting for the government to address their perennial problems. The constitutional restrictions on foreign ownership of land, he said, were another thing that the government should “seriously” consider addressing. Other issues that needed resolution were high power rates and the lack of streamlined fiscal incentives.”
“These are things that we should have done 30 years ago. These problems persist and remain unsolved,” he said.
Ortiz-Luis added that “the state-owned Power Sector Assets and Liabilities Management Corp.’s pronouncement that the discounted power rates for economic zone locators would no longer be extended was a huge turnoff for exporters. This has actually led some exporters to shut down their operations here and transfer to China, Vietnam or Indonesia.”
As citizens, how can we improve our rankings and get off the “world’s worst” lists. Much of it depends on government action and changing existing laws. Still, we can give our unsolicited advice.
Create incentives, change 60-40 law
In a twitter discussion, @franky suggested “Ditch the 60-40 laws… I propose 20 years staged plan in which law’s gradually taken down. Eliminating immediately will only see an invasion of multinationals buying at cheap prices. ”
@FrancisAcero clarifies that “You need a Constitutional amendment to let 60-40 comedown take effect.” . Like Ortiz-Luis , @FrancisAcero believes “There are two 60-40s that should come down: prohibited list and property ownership. ”
A question is posed by @franky: “If you were foreigner, would you want to start a company here if you can’t own your ‘own’ company? ”
I added that we need to focus on domestic enterprises. @FrancisAcero says “Both have to happen: they help each other, allow locals more exposure to best global practices.”
@franky adds that it is important the Philippines stay “away from unstable revenue: Tourism, OFW. Need to create local and export economy. ” @jefftagle suggests to” put in more incentives for pinoys, without discouraging foreign investments.” and “tax breaks and less red tape and bureaucracy would be a start. paperwork is a b*tch.”
Incentives suggested by @franky:
1. Many attending university. Create $$$ incentives for students who start local business.
2. Tax breaks should be offered if company reaches xx employees in first x years.
3. Additional incentives, tax bonuses, for growing companies. Important to stimulate further investment, rather than new riches.
Business ideas
@franky believes there is massive business opportunities for the Philippines: Solar power (for hot water and ‘dress’ all condos in translucent solar panels). Another is “PVC recycling. Also to be used to create schools & hospitals in provinces”.
The “solar power should become requirement for all new condos. Offset cost on price of condo, $$$ bonus given to developers”
These are just some of the business opportunities that are being discussed in Twitter. The government need to identify business opportunities that will stimulate domestic enterprises and foreign investments at the same time.
The National Competitive Council of the Philippines (NCCP) is set to meet on November 18 to address the findings of the WB report on which the CNBC ranking was based on. Virgilio Fulgencio, executive director for public sector is “studying and dissecting the issue para ma-isolate natin ang dapat gawin.”
Twitter discussion
Noemi Lardizabal-Dado
Noemi Lardizabal-Dado is a Content Strategist with over 16 years experience in blogging, content management, citizen advocacy and media literacy and over 26 years in web development. Otherwise known as @MomBlogger on social media, she believes in making a difference in the lives of her children by advocating social change for social good.
She is a co-founder and a member of the editorial board of Blog Watch . She is a resource speaker on media literacy, social media , blogging, digital citizenship, good governance, transparency, parenting, women’s rights and wellness, and cyber safety.
Her personal blogs such as aboutmyrecovery.com (parenting) , pinoyfoodblog.com (recipes), techiegadgets.com (gadgets) and benguetarabica.coffee keep her busy outside of Blog Watch.
Disclosure:
I am an advocate. I am NOT neutral. I will NOT give social media mileage to members of political clans, epal, a previous candidate for the same position and those I believe are a waste of taxpayers' money.
I do not support or belong to any political party. I was part of accredited media covering the Office of the Vice President and Leni Robredo as she ran as a presidential aspirant in the 2022 National and local elections.
On August 5, 2021, YouTube announced that I was selected as one of 50 Program participants of its Creator Program for Independent Journalists
She was a Senior Consultant for ALL media engagements for the PCOO-led Committee on Media Affairs & Strategic Communications (CMASC) under the ASEAN 2017 National Organizing Council from January 4 -July 5, 2017. Having been an ASEAN advocate since 2011, she has written extensively about the benefits of the ASEAN community and as a region of opportunities on Blog Watch and aboutmyrecovery.com.
Organization affiliation includes Consortium on Democracy and Disinformation
Updated June 6, 2022
Share:
About BlogWatch
BlogWatch began in November 2009 as a group of independent-minded bloggers and social media users helping with voter education. It has since evolved into a group of citizen advocates who engage government and the private sector, online and offline, for social good.
BlogWatch does not solicit, ask for, demand or receive any financial or material remuneration for involvement in its activities, whether in cash or in kind. Read our editorial policy which includes disclosure, methodology and corrections policy.
Share your thoughts on BlogWatch
Got something to say? Share your perspectives on current issues and contribute to the conversation. Just contact the editorial board.
BlogWatch received the “Best Story” Award for the First Data Journalism PH 2015 from the Open Knowledge Foundation and Philippine Center for Investigative Journalism “Aid Monitoring: Citizens’ Initial Efforts in the Wake of Typhoon Yolanda” . Forbes Philippines also garnered the same award.
BlogWatch receives the “Best Story” Award for the First Data Journalism PH 2015 from the Open Knowledge Foundation and Philippine Center for Investigative Journalism for their story on “Aid Monitoring: Citizens’ Initial Efforts in the Wake of Typhoon Yolanda” . Forbes Philippines also received the same award.
How can the Philippines get off the “worst country to do business” in Asia?
The Philippines has been deemed the “worst country to do business” in Asia by US-based business news network CNBC.
“Foreign businesses are wary of the Philippine’s unstable legal system, violence, and bureaucracy,” said CNBC.
According to Sergio Ortiz-Luis, president of the Philippine Exporters Confederation, “investors, particularly exporters, were getting tired of waiting for the government to address their perennial problems. The constitutional restrictions on foreign ownership of land, he said, were another thing that the government should “seriously” consider addressing. Other issues that needed resolution were high power rates and the lack of streamlined fiscal incentives.”
“These are things that we should have done 30 years ago. These problems persist and remain unsolved,” he said.
Ortiz-Luis added that “the state-owned Power Sector Assets and Liabilities Management Corp.’s pronouncement that the discounted power rates for economic zone locators would no longer be extended was a huge turnoff for exporters. This has actually led some exporters to shut down their operations here and transfer to China, Vietnam or Indonesia.”
As citizens, how can we improve our rankings and get off the “world’s worst” lists. Much of it depends on government action and changing existing laws. Still, we can give our unsolicited advice.
Create incentives, change 60-40 law
In a twitter discussion, @franky suggested “Ditch the 60-40 laws… I propose 20 years staged plan in which law’s gradually taken down. Eliminating immediately will only see an invasion of multinationals buying at cheap prices. ”
@FrancisAcero clarifies that “You need a Constitutional amendment to let 60-40 comedown take effect.” . Like Ortiz-Luis , @FrancisAcero believes “There are two 60-40s that should come down: prohibited list and property ownership. ”
A question is posed by @franky: “If you were foreigner, would you want to start a company here if you can’t own your ‘own’ company? ”
I added that we need to focus on domestic enterprises. @FrancisAcero says “Both have to happen: they help each other, allow locals more exposure to best global practices.”
@franky adds that it is important the Philippines stay “away from unstable revenue: Tourism, OFW. Need to create local and export economy. ” @jefftagle suggests to” put in more incentives for pinoys, without discouraging foreign investments.” and “tax breaks and less red tape and bureaucracy would be a start. paperwork is a b*tch.”
Incentives suggested by @franky:
1. Many attending university. Create $$$ incentives for students who start local business.
2. Tax breaks should be offered if company reaches xx employees in first x years.
3. Additional incentives, tax bonuses, for growing companies. Important to stimulate further investment, rather than new riches.
Business ideas
@franky believes there is massive business opportunities for the Philippines: Solar power (for hot water and ‘dress’ all condos in translucent solar panels). Another is “PVC recycling. Also to be used to create schools & hospitals in provinces”.
The “solar power should become requirement for all new condos. Offset cost on price of condo, $$$ bonus given to developers”
These are just some of the business opportunities that are being discussed in Twitter. The government need to identify business opportunities that will stimulate domestic enterprises and foreign investments at the same time.
The National Competitive Council of the Philippines (NCCP) is set to meet on November 18 to address the findings of the WB report on which the CNBC ranking was based on. Virgilio Fulgencio, executive director for public sector is “studying and dissecting the issue para ma-isolate natin ang dapat gawin.”
Twitter discussion
Noemi Lardizabal-Dado
Share:
About BlogWatch
BlogWatch began in November 2009 as a group of independent-minded bloggers and social media users helping with voter education. It has since evolved into a group of citizen advocates who engage government and the private sector, online and offline, for social good.
BlogWatch does not solicit, ask for, demand or receive any financial or material remuneration for involvement in its activities, whether in cash or in kind. Read our editorial policy which includes disclosure, methodology and corrections policy.
Share your thoughts on BlogWatch
Got something to say? Share your perspectives on current issues and contribute to the conversation. Just contact the editorial board.
Latest Posts
Read our older posts
Fight Covid-19 Misinformation
Tackling vaccine hesitancy
#ChecktheFAQs campaign to fight vaccine misinformation
April 2 is fact checking day. Understand how Covid-19 vaccines work.
Defining a policy framework to respond to infodemics
Pause. #TakeCareBeforeYouShare . The fight against #COVID19 is also a fight against misinformation.
The fake news provision in the Bayanihan To Heal As One Act
Stay vigilant vs novel coronavirus, misinformation
Fighting disinformation
– Moves to fight “Fake News” and Other Information Disorders in 2018
– Fake news: 7 types of mis- and disinformation (Part 1)
–Be a savvy news consumer. Here are 6 tips for identifying fake news (Part 2)
-Fact-checking day is every day. Here are 8 tips on how you can stand up for facts
-The day after: thoughts on the Senate Hearing on Fake News (Part 1)
-The day after: thoughts on the Senate Hearing on Fake News (Part 2)
–7 types of mis- and disinformation
-Tools and strategies to determine fake news, half-truths, from real news
Disinformation innovations used in the May 2019 Philippine elections
“Best Story:” Award for Data Journalism PH 2015
BlogWatch received the “Best Story” Award for the First Data Journalism PH 2015 from the Open Knowledge Foundation and Philippine Center for Investigative Journalism “Aid Monitoring: Citizens’ Initial Efforts in the Wake of Typhoon Yolanda” . Forbes Philippines also garnered the same award.
BlogWatch receives the “Best Story” Award for the First Data Journalism PH 2015 from the Open Knowledge Foundation and Philippine Center for Investigative Journalism for their story on “Aid Monitoring: Citizens’ Initial Efforts in the Wake of Typhoon Yolanda” . Forbes Philippines also received the same award.
Send Us A Message