PACIFIC WATCH
PHILIPPINES: Foreign investors’ interest in the Philippines is declining, the Philippine News quoted the Hong Kong-based Political and Economic Risk Consultancy Ltd. as saying. One reason: Other countries offer the same cheap labor without the risks. Some American companies have been turned off by bad publicity over negotiations involving American bases in the Philippines. The report also cited political instability, the nation’s reputation for poor fiscal management, a freeze on loans and aid by the International Monetary Fund, infrastructure problems and an ambivalent government policy toward foreign investment.
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