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YEAREND REPORT: Luring investors back will be an uphill task (The challenges ahead).
"Tough job for Estrada administration to put RP back on invest map." Rightly so, as today's yearend report is titled. Emerging from the crisis years, the Philippine government has yet to make a convincing comeback that would entice investors to consider the country in its list of areas to locate their businesses.
What is concerning the private sector is the snail-paced introduction of reforms both in the economic and political fronts, prompting Andrew Long, research director at brokerage firm Vickers Ballas Securities (Philippines), Inc. to comment that at a growth rate of 4%, the country will not be able to attract foreign funds. As proof of the cold treatment from …
