BSP Gov. Diokno, open the economy to foreign investors

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DIOKNO-BENJAMIN-BSP_COVER_JAN2019The Central Bank of the Philippines (BSP) believes Gov. Benjamin Diokno that on the whole the country will improve the opening of its economy to foreign investors by relaxing certain economic provisions in the Constitution.

Made by Gov. Diokno reacted after the final reading last week in Congress passed a resolution aimed at amending the regulations limiting foreign investment or foreign ownership in the country.

Gov. Diokno, among other things, wants to open the educational system in the country where his dream is to one day see American or UK universities in the country and his countrymen will not have to go abroad to get what he calls “superior education.”

According to Gov. Diokno, he is also in favor of easing corporate ownership such as the media so that there is no news monopoly in the country.

The BSP governor also believes that the 60-40 share of ownership stipulated in the Constitution is an obstacle to the entry of foreign investments into the Philippines.

Explanation by Gov. Diokno, any investor who makes a large investment and wants to control a public corporation, does not want to be in the minority or mainority shareholder.

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