Filipinos see potential for better economy with eased foreign investment rules

A recent Pulse Asia survey commissioned by Stratbase Institute indicates that a majority of Filipinos believe easing foreign investment restrictions could lead to better economic outcomes, including higher-quality jobs and improved services.

Sixty-four percent of respondents think this move would increase high-quality jobs with higher salaries and benefits, while 56% expect improved services for customers; however, 54% are concerned that it might also lower the prices of goods and services.

The survey was conducted from March 6 to 10, 2024, polling 1,200 respondents nationwide, and released during a consultative session organized by Democracy Watch Philippines on Wednesday.

Former finance secretary Margarito Teves Jr. noted that relaxing foreign restrictions could attract more foreign direct investments (FDIs), create jobs, and improve real wages for Filipinos.

Critics warn the effort to amend the constitution might lead to the abolishment of term limits, but President Ferdinand Marcos Jr. maintains he is primarily seeking to allow more foreign investment to create jobs.