foreign direct investments

Political, economic, and cultural control under charter change

April 12, 2023

Proponents in Congress and their private sector cohorts are preoccupied with pushing for charter change. But this will be to the detriment of the Philippines and its people – politically, economically, and culturally.

Millions of Filipinos still poor despite foreign investments

March 23, 2023

Some politicians claim that more FDI after charter change will reduce poverty. However, poverty has stayed high over the years of increasing FDI.

Unemployment worsened even with more foreign investment

March 23, 2023

Proponents of charter change insist that more FDI from changing the Constitution’s economic provisions will create job opportunities and decrease unemployment. Has unemployment decreased as FDI increased?

Job creation weakened despite rapid FDI growth

March 23, 2023

One of the key arguments of charter change proponents is that liberalizing the economy to FDI will create more jobs. But job creation has actually weakened even as foreign direct investment inflows increased.

Trade deficit worsened as FDI increased

March 23, 2023

In the absence of Filipino industrialization, FDI dominates domestic manufacturing. Foreign manufacturers and foreign investors in general have very low local content and their import-intensive operations are fueling the country’s trade deficit. This has widened over the years reaching a record US$43.5 billion in 2018.

Agriculture weakened despite capital inflows in sector

March 23, 2023

Charter change advocates in Congress claim changing the constitution to favor foreign direct investment (FDI) will develop the economy. Yet while foreign capital poured into the agriculture, forestry and fisheries sector over the years, its share in the economy has plunged.

Foreign investment hasn’t done much to develop the Philippine economy

March 6, 2023

Foreign investment can play a role in development but, clearly, not under the free market-oriented policy framework the government has been insisting on since the Marcos dictatorship.

IBON: PDP 2023-2028 non-solution to PH economic crisis

January 30, 2023

The Marcos Jr administration’s Philippine Development Plan 2023-2028 boldly promises “economic and social transformation for a prosperous, inclusive and resilient society” yet falls short as a comprehensive development plan.

On changing the economic provisions of the 1987 Constitution: More foreign investment does not mean more development

January 26, 2023

As the House Committee on Constitutional Amendments considers proposed amendments, IBON raises five major points on why economic provisions in the 1987 Constitution should be retained.