Majority of Filipinos believe lifting the constitutional restrictions on foreign business ownership and investments will lead to more high quality jobs with high salaries and better benefits, as well as better services to the public, the March 6-10 survey of Pulse Asia showed.
Amendments to the economic provisions of the Constitution, including removing restrictions on foreign investments, are being deliberated in Congress.
The Pulse Asia survey results showed 64 percent of Filipinos believe lifting the constitutional restrictions on foreign investments may lead to an increase in high quality jobs with high salaries and better benefits, while 56 percent said it would result in better services to stakeholders and customers.
About 55 percent of the respondents believe the removal of the constitutional restrictions may result in foreign capital dominating over local investors and businesses, while 54 percent said the prices of goods and services will decline.
Forty-three percent said national security will be at risk.
Filipinos listed the following as the biggest hurdles to foreign investments in the Philippines: complicated rules and regulations like red tape, changes in government policies and regulations (56 percent), restrictive rules on foreign ownership (55 percent), corruption in the public sector (46 percent), and inadequate transportation infrastructure (40 percent).
Others cited high cost of electricity (37 percent), inadequate telecommunications infrastructure (32 percent), and not enough incentive for investors (21 percent) also hindered foreign investments in the Philippines.
The survey covered 1,200 adult respondents nationwide and was commissioned by Stratbase Institute.
It was presented during a consultative session on Charter Change, organized by the Democracy Watch Philippines.
