Experts from various sectors stressed the need to ease economic restrictions in the Constitution to bring in foreign investments, lower the costs of goods and services, and create jobs.
Teves believes competition will address the major concerns of Filipinos based on a recent Pulse Asia survey, which includes inflation, jobs, and wages. Similarly, TradeAdvisors CEO Tony Abad explained that competition “creates a dynamic pressure on locals to improve themselves.”Meanwhile, Canadian Chamber of Commerce of the Philippines President Julian Payne has no doubt foreign direct investments would create more jobs – the quality of which will depend on the industries.“In other cases, if it’s a new industry or a new product or a new service, it will be additional,” he said.
“We will allow only investors from a country that also allows us to invest in their advertising industry. That’s the meaning of unless otherwise provided ,” Carpio explained.
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