The Oxford Business Group’s (OBG) report on the Philippine economy said that the country’s foreign direct investments (FDI) remained “weak” for the past two years compared to other countries in Southeast Asia, which results in high levels of unemployment and poverty among Filipinos.
OBG Editorial Manager Rodrigo Diaz told reporters in a Monday briefing that the weak FDI data of the Philippines at a time when its Southeast Asian neighbors were enjoying a boom in FDI inflows remains a challenge, along with streamlining of the credit processes, and easing the 60-40 business ownership rule, that only allows foreigners to own up to 40 percent of a business established in the Philippines.
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