Bakit ganun?
Because the Philippines’ GDP growth is at 7.4% based on the previous quarter’s result and is forecasted to be the leader in Southeast Asia and will continue to be one of the fastest growing economies in the world! What’s pushing this growth? We have excellent economic fundamentals plus OFW Remittances at a record $34 billion US Dollars fueling the local economy. Business Process Outsourcing is forecasted to go past the OFW Remittances.
But we continue to have severe problems! The oligarchs control some sectors of our economy, contributing to high electricity costs and our lousy internet, and we’re lagging behind our neighbors in infrastructure. The Communists continue to be one of the problems why the economy would not pick up in remote localities! Hence, many opportunities are only located in the Calabarzon areas and a few big cities around the country.
To claim that even with RESTRICTIONS, Foreign Direct Investments will come anyway is an imbecilic conclusion. Why? Will foreign direct investments put up their manufacturing plants in Communist-infested areas in the country?
At issue is the 1987 Constitution and the restrictions that benefitted the Oligarchs. The Philippines did not become rich, and the little opportunities brought by the economy did not filter through to the rest of the country.
Also, one should look at the Philippines’ share in foreign direct investments as it compares with our neighbors. How competitive are we in terms of attracting FDI? $6.4 billion against Vietnam’s $14 billion? 4.6% Philippine share vs. Vietnam’s 11.6%? Considering that Vietnam was in a war while the Philippines was in Hollywood and Disneyland?
That is the issue, Bong Onil.
The post Response to Bong Onil’s imbecillic analysis! appeared first on Reyna Elena.
