Edwin T
14 May 2013

 

Re: Fil-Ams, US investors bullish on Pangasinan

There are many of us who have Filipino blood or even, as in my case, born in the Philippines but cannot own property in the country because of we are not Filipino citizens. Also, the policy inhibits me and others like me from making large capital investments in the country because our children cannot keep any of the property bought, as in my case, using my wife’s name as a Philippine citizen. The policy preventing ownership of Philippine property by non-Filipinos may look good on paper but does no good for the country’s economy. Foreign dollars or Euros mean jobs.

I can understand why the “Philippine First” law was enacted but to do so simply because the country was once a U.S. colony does no good. The U.S. was an English colony yet allowing British citizen and citizens of other countries to buy and invest in the U.S. has not hurt the economy. To the contrary, the liberal investment policies of the U.S. has provided much needed jobs and capital. I believe that it is time for the Philippines to change its archaic business laws. There are many of us with roots to the Philippines who would like to plant some of our money in the country.

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