Why foreigners don't invest in Philippines

President Noy has been going abroad inviting foreign businessmen to invest in the country.

Only very few investors will answer P-Noy’s invitation.

Ours is not an investor-friendly government and country.

Potential investors will have to reckon with corrupt officials at the Securities and Exchange Commission, Department of Trade and Industry and the Bureau of Customs, which will assess the machinery and equipment to be brought in.

That’s not all.

Potential investors will have to bribe officials of towns and cities where the foreign-owned companies will be set up.

Even barangay officials will have to be bribed for a business permit to be released.

You think that’s the end of it? No sir!

We have one of the highest power rates in the world; so much of the investors’ expenses will be for the payment of electric bills.

What also drives away foreign investments are our militant employees. They stage strikes and walkouts once they see their company is earning.

Author:
Ramon Tulfo

Source:
Inquirer.net