‘Ease restrictions to attract investment’

The Philippine economy continues to show impressive growth but if the country is to eventually join the Trans-Pacific Partnership (TPP) trade pact and seeks to maximize the potential of its public-private partnership (PPP) program, it would need to loosen its restrictions on foreign investment, the US ambassador to the Philippines said on Friday.

In a roundtable meeting with editors and reporters of The Manila Times, Ambassador Philip Goldberg complimented the Philippines’ robust economic performance, but said restrictions on foreign investment and ownership were not helping attract potential investors.