MANILA, Philippines — Foreign investors have become hesitant to invest in the Philippines because of a spate of extrajudicial killings and summary executions of alleged drug peddlers in the country, a European businessman said. European Chamber of Commerce of the Philippines (ECCP) President Guenter Taus admitted that the foreign business sector from Europe, the United States and Canada are wary of the recent developments in the country as a new administration takes office. "We do feel there is hesitation there," Taus said in a roundtable discussion organized by the Delegation of the European Union to the Philippines at Far Eastern University in Makati City. Taus noted that the ECCP is following developments on the 91 cases filed before the Commission on Human Rights in connection to the drug-related killings. Meanwhile, European Union (EU) Ambassador Franz Jessen said that the union is on "wait and see" mode on the developments of the issue. "We are not passing judgment at this point in time. We will wait and see," Jessen said during the roundtable discussion. Foreign investors hesitant amid extrajudicial killings
How do you tell the difference between the extra-judicial killings and the hesitance because of the 40% ownership rule? I guess the Euro's expect to go into the illegal drug business?
I hate to admit it but systematic human rights violations usually don't stop European businesses from doing business in such countries. See China. But the Chinese do a better job with covering things up, leaving management a 'we didn't know a thing' loop hole in case there's someone stirring things up back home. Hard to get away with that when the president openly talks and justifies such things. Plus what the Chinese do is more or less legal under their own laws, other than here, where the law and in fact the whole justice system is simply ignored when it gets in the way. This brings a level of uncertainty that's probably the real blocker. I got asked a lot about how things are going here and if it's still safe under "this new president" when I was in Europe recently, so there's definitely some negative image building up already.
Why wasn't european business flocking to the Philippines for the last 10 years? What did they say then? This is just a nail to hang their agenda hat on.
without doubt even before recent developments there have been more attractive places to do business in the area for sure.
Calling BS on this. Anecdotal evidence for starters. I'm not even sure the 40% rule is a huge issue for foreign investment. Money finds a way around problems. This rule already gets waived for certain types of businesses. I imagine it's more of a problem for foreigners starting small local businesses.
I never realize they was such a corrupt media in the Philipines, but I guess I was just naive. The commercial media, particularly on the FB, seem to be totally against anything Duterte wants to do. So I can see that there could be some negative image building going on at the international level. Lots of people previously in power politically still are in power and control within the media. Their livelihoods are probably being influenced by the new Presidents programs. It is like the old regime is still in place in the media if not politically. The media can control how the public thinks by the stories it emphasizes and the stories that never get told. Duterte has his hands full with the media. I guess I better understand his negative statements now about the media when he came into office. The media exposes itself a little better now. With Aguino is was just one big happy family, and all got rich at the top.
Dave, people often tell me perception is everything. I will reply with , what is, is. No matter what you "feel" it is. After about 350+ years the authorities sometimes admit they were wrong, like with Galileo saying the earth moves and his persecution by the church, who had their own astronomers.
I agree with you. Sometimes perceptions can lead to big surprises where as realities lead to sudden emotional repulsion . That is why I am always so careful when approaching that attractive person here in the mall or a dark club. You know the one; the one that stands out a little taller above the rest, with all the right make up, clothing and other admenties that that gives me a perception that makes my blood pump fast. In the Philippines, perception and realities do not always coincide, but often collide.
