Leapfrogging to Higher Economic Growth (2)

Subli

IF I WERE THE NEXT PRESIDENT (Part 10 of a series)

By BEN R. PUNONGBAYAN

Founder, Buklod National Political Party

Investments, and in the case of the Philippines, foreign investments, is a big factor in driving economic growth. Unfortunately, for the past many years, the country has been behind most of our neighboring countries in attracting foreign investments. This low performance is a major reason why the Philippines has lagged behind most of the ASEAN countries in historical economic growth. We simply have not been competitive.

There are several reasons why we have not been competitive. The major one, I believe, is that the costs of doing business in the country is comparatively higher. I have discussed the more significant of these higher costs in Part 9 of this Commentary Series (this current Part is a continuation of Part 9). These are: the cost effects of the business interruptions and…

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