Once a problem has been clearly defined, the next logical step is to find the best possible solution, and then implement that solution. This is just as true for economics as it is with politics.
In the economic field, the Philippines remains a relatively difficult place to do business, as has been pointed out time and again in the pages of this paper.
Bureaucratic red tape remains a problem for foreign companies wishing to do business in the Philippines. While there have been serious attempts by both the national as well as the local government units to make setting up local operations easier, there remain roadblocks in so many areas.
The Aquino administration has three more years left before it becomes history. This should be more than enough time to correct the ills that prevent the country from becoming the true darling of global investors.
Perhaps little can be done to alter the Constitution to allow greater foreign ownership of real property, which is one of the weaknesses cited by global players as the reason they prefer to do business elsewhere. But streamlining the steps needed to set up Philippine operations is certainly something that the Aquino administration is capable of achieving before 2016.
The President likes to harp about how the country is doing so well economically. We do not disagree. But we see that there is still room for improvement, meaningful improvement.
We want Mr. Aquino to succeed because his success will redound to the good of the Filipino people.