PULSE ASIA: 56% OF PINOYS SAY COMPLICATED RULES HINDER ENTRY OF FOREIGN INVESTMENTS
Around 56% of Filipinos believe that complicated rules and regulations, such as red tape and changes in government policies and regulations, is the main reason foreigners are discouraged from investing in the Philippines, a Pulse Asia poll showed.
The Pulse Asia survey, conducted last March 6 to 10, also stated that the second reason is restrictive rules on foreign ownership at 55%, followed by corruption in the public sector at 46%.
Other reasons cited by respondents include inadequate transport infrastructure at 40%, the high cost of electricity at 37%, inadequate telecommunications infrastructure at 32%, and insufficient incentive for investors at 21%.
Only 2% of respondents refused to give an answer.
Likewise, 64% of respondents believe that removing restrictions on foreign investments will result in an increase of high quality jobs with high salaries and better benefits.
Meanwhile, 56% of the respondents also thought increased foreign capital will improve services in various sectors, while 55% said this will only result in foreign capital dominating local investors and businesses.
There were 54% who said removing restrictions against foreign investors or businesses will reduce the prices of goods and services, while 43% said national security will be at risk.
There were 5% who could not say what would be the result of increased foreign capital.
The results stated above were from the same March 2024 poll commissioned by Stratbase-Albert del Rosario Institute which revealed that 88% of Filipinos are against amending the 1987 Constitution "right now.”
Pulse Asia, in a statement released on Tuesday, May 7, said that the rider questions on reasons hindering foreign investment and possible outcome of increased foreign capital were added by Stratbase-Albert del Rosario Institute in addition to Pulse Asia’s questions on current proposals for changing the Constitution.
“We offer a brief description of the results of these rider questions since they have been publicized or were partially cited in a commentary by a Stratbase-ADRI official. The results of the Stratbase-ADRI rider questions clearly indicate that the public has a much more nuanced view of issues relating to the lifting of the restrictive provisions of the 1987 Constitution,” Pulse Asia said.
“The above results indicate that the public is keenly aware of the factors that deter the entry of foreign capital, including those that have nothing to do with the lifting of the restrictive provisions in the Constitution,” Pulse Asia added.
Furthermore, Pulse Asia said poll results prove that the public does see both negative and positive outcomes of removing the restrictions against foreign investors provided under the Constitution
“Together, these results explain the unfavorable position of a significant majority of Filipinos to the moves to remove the provisions in the 1987 Constitution that limit foreign involvement in specific economic and social sectors,” Pulse Asia said.
The Pulse Asia poll was done using face-to-face interviews on 1,200 respondents aged 18 years and above. It has a ± 2.8% error margin at the 95% confidence level.
Subnational estimates for the geographic areas covered in the survey have the following error margins at 95% confidence level: ± 5.7% for Metro Manila, the rest of Luzon, Visayas, and Mindanao. —KG, GMA Integrated News
This article Pulse Asia: 56% of Pinoys say complicated rules hinder entry of foreign investments was originally published in GMA News Online.
2024-05-07T08:09:24Z dg43tfdfdgfd