“WHEREAS the Philippines has become one of the fastest growing economies in the region, and continues to show strong potential for further growth amid improvements in governance and the business environment, but its economy is still characterized by constitutional restrictions such as limits to foreign equity in the ownership and operation of public utilities, educational institutions, mass media, and advertising;” (emphasis mine)
“WHEREAS, to sustain the growth of the Philippine economy, these restrictions need to be amended, as they have constrained foreign direct investments (FDIs). Based on the 2020 OECD FDI Restrictiveness Index, Philippines is ranked as the third-most restrictive in terms of FDI among 84 OECD member countries. We have one of the lowest FDI levers over the years in the Association of Southeast Asian Nations”.
PSA StatDev: “The Statistical Indicators on Philippine Development (StatDev) is an instrument formulated and maintained by the Philippine Statistics Authority (PSA) as a means by which economic progress and social change can be monitored and measured more effectively.” Go to PSA StatDev 2021 here
See the PSA StatDev chapter on “Governance” and search for Corruption Perception Index” or “CPI” here.
See the PSA StatDev chapter on “Justice” here
For the World Bank report showing FDI net inflows by year, click here.