PRESIDENT Ferdinand R. Marcos, Jr. cited red tape and power costs as the top issues raised by foreign investors.
PRESIDENT FERDINAND R. MARCOS, JR. — PHILIPPINE STAR/ KRIZ JOHN ROSALES
“Problems relating to the ease of doing business and legislative guarantees fall squarely within investor concerns on accountability and transparency,” Terry L. Ridon, a public investment analyst, said via chat when asked to comment. He said concerns about legislative intervention are serious governance and accountability concerns, citing legislators’ refusal to renew the franchise of broadcaster ABS-CBN Corp. during the previous administration.
Leonardo A. Lanzona, who teaches economics at Ateneo De Manila, said the issues cited by foreign investors “all require accountability and transparency.” “The former administration did not generate enough investment for the country. More than axioms, these are key ingredients to the country’s development.”
“The demand for power far exceeds the supply that we are producing. And there is also a problem in distribution which is why the prices are so high,” he said. “That has to beMr. Marcos said he sought to attract power investors during his foreign trips. “Of course, we are stressing renewables because we’re trying to improve the mix of power generation between traditional and renewables.”
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