“Where will the next Government obtain the long-term capital needed to continue improving Philippine infrastructures by making sure we are investing 5 to 6 % of our GDP in this vital sector? The answer is a no brainer: Foreign Direct Investments.”
… The amendment of the Public Service Law [which] can bring in substantially more foreign direct investments (FDIs) especially in critically needed infrastructures like telecommunications, airports, expressways and tollways, railways and shipping…
Thanks to the passing of the law amending the Public Service Act, foreign equity can flow more freely in some of the most vital infrastructures needed for our next stage of industrialization called Industrialization 4.0. Fortunately, there is a good sign that our country is beginning to catch the attention of direct foreign investors.
… Even in the height of the pandemic, in 2021 our FDI figures reached $10 billion, one of the highest in the last decade or so… The Department of Trade and Industry (DTI) announced that in the next twelve to eighteen months, some 250 foreign investment leads worth $8.8 billion (PhP450 billion) are expected to come to the country.
The attractiveness of the Philippine economy to both domestic and foreign investors is primarily based in its huge domestic market propelled by the purchasing power generated by the OFW remittances and the earnings of the BPO-IT industry, soon to be bolstered by the quick recovery of domestic tourism which will soon see 60 to 70 million Filipinos traveling once again to scores of attractive tourism sites made more accessible by the Build, Build, Build program.
In his regular column for Manila Bulletin, CRC Research Director Dr. Bernardo M. Villegas highlights the importance of the amendment of the Public Service Act to strengthen Philippine infrastructures and attract Foreign Direct Investments – a key sector that will propel the country’s continued growth post-pandemic.
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