Manny Pacquiao

Pacquiao vows more investments, more jobs

November 18, 2021 Marlon Purification 184 views

SENATOR Manny Pacquaio on Thursday said he will use his global celebrity stature to lure foreign direct investments to the Philippines and provide jobs for the country’s poor.

Going around some parts of Bulacan and Metro Manila, Pacquiao said he has at least 10 international billionaire friends who are committed to investing their money in the Philippines.

He said their only condition is for him to get rid of corruption which has been a big turn-off for foreign investors and address the country”s unreliable internet and power supply.

“May mga kaibigan ako na mga malalaking negosyante at mga mayayaman sa ibang bansa na naka-ready na tumulong sa Pilipinas. Ayaw lang talaga nila itong napakatinding korapsyon sa ating gobyerno, ” Pacquiao.

“Mahirap din po talagang makakuha ng investors sa bansa kung ang mga katabing bansa ay nasa 20 porsyento lang ang corporate tax. Kailangan nating pababain ang ating corporate tax at palakasin ang ating non-tax revenues,” Pacquiao added.

Pacquiao said that even before the pandemic which forced many businesses to shut down, many FDIs have already moved elsewhere primarily because of the country’s unpleasant business climate.

Aside from having a very unreliable infrastructure for businesses, Pacquiao said the government’s reliance on taxes and the instability in economic policies are a big turn-off for potential investors.

Pacquiao said that once elected, he would ask Congress to legislate sweeping tax reforms to foster a better investment climate for the Philippines.