Filipinos OK removing restriction on foreign investments — survey

Most Filipinos believe that the removal of restrictions against foreign investments and businesses in the 1987 Constitution may lead to more high-quality jobs, better services, and lower prices of goods, a commissioned poll showed on Wednesday.

A Pulse Asia survey done by international think tank Stratbase Institute showed that 64 percent of Filipinos believe that lifting the restrictions may lead to jobs with "high salaries and better benefits” while 56 percent believe that “services to stakeholders/customers will be better."

More than half or 55 percent of Filipinos believe that such action may result to “foreign capital will dominate local investors and businesses,” while 54 percent think that “the price of goods and services will decrease."

More than half, or 56 percent, of Filipino adults said that “complicated rules and regulations like red tape, changes in government policies and regulations” hinder foreign investments in the Philippines, while 55 percent blamed “restrictive rules on foreign ownership” for the hindrance.

Forty-six percent said “corruption in the public sector” hinders foreign investments in the country, while 40 percent chose “inadequate transportation infrastructure."

The polling firm released the survey results on Wednesday during a consultative session on Charter Change organized by the Democracy Watch Philippines.

Pulse Asia also conducted the survey from 6 to 10 March 2024, with 1,200 respondents nationwide.