Statement of Senator Win Gatchalian on the Philippines being one of the Worst Performers in Asia in terms of FDI inflows in 2018

The recent Bangko Sentral ng Pilipinas (BSP) data showing the Philippines' poor standing in terms of Foreign Direct Investment (FDI) inflows compared with 10 Asian countries in 2018 establishes our case for the immediate implementation of economic reforms that will foster a more competitive business environment in the country.

Based on our own analysis, macroeconomic risks such as higher than expected inflation in 2018, the country's restrictive investment environment, and poor infrastructure quality - particularly on transportation and logistical infrastructure - remain to be the key stumbling block for the country to corner higher FDIs.

With only nine session days remaining, we hope to sponsor a measure amending the Foreign Investments Act (FIA) of 1991, which is essential to put the country in a competitive position over other ASEAN countries in terms of attracting businesses and investments by providing clarity to foreigners who are interested in investing in small and medium enterprises or practicing their profession in the Philippines. I also call on my colleagues in the Senate to prioritize the passage of key economic bills that will foster an inclusive, efficient, and competitive business environment in the Philippines, such as the Public Service Act and the Retail Trade Liberalization Act.