Investing in Philippines Is Difficult for Business
- Share via
The story (“Philippine President Scores Hit on Wall Street,” Nov. 9) about Philippine President Corazon Aquino’s visit to Wall Street highlighted her complaint that American companies have invested “little” in the islands since the successful 1986 People’s Power Revolution that put her in power.
It still takes far too much time, money and effort for a foreign investor to set up a business in the Philippines because of the plethora of government rules and regulations.
Furthermore, the Manila-centered bureaucracy has not kept up with the need to speed up government investment in infrastructures. Ports, airports, roads and bridges are all too often in a state of disrepair, thus contributing to the high cost of doing business in the islands.
Until the Aquino administration gets its act together and streamlines the government processes for foreign investors, upgrades the communication facilities and improves the peace and order situation all over the country, American business will continue to hesitate to put its money in the Philippines.
EUGENE V. CORAZO GRANADA HILLS
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
