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Dave Hounddriver

New Foreign Ownership Law!!!

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18 minutes ago, fillipino_wannabe said:

I searched around about it before and saw another link that said ISP only, will have a look for it later.

Makes perfect sense then… This opens the door for the third, foreign owned telecom company to come in. ;)

Yeah, I didn’t figure he was cutting the rest of us in the slack… LOL

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All I want is a 6/7 bay car wash, maybe a couple of used motors out front for sale. To be able to legally own the land it all sits on. Because I am dreaming, also lady bedspacer units, rented by beautiful single filipina. Somehow I  believe this new law will not assist me at all. But maybe it is the crack in the dyke that will bring further law change. Was not that one of the campaign promises to bring in another cell/internet provider? in a few years Manila will have a whole new look. China has lots of money, lots of people willing to come here to work. Who else can this law be for?  Who else has the money/people to take advantage of this? I like to see changes in the foreign ownership laws I only wish it was aimed at the small business owner. Most other Asian countries have been smart enough to do the best to keep the Chinese fingers out of there economy. Hopefully the President knows what he is doing and has a good plan.

Edited by canadamale

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56 minutes ago, canadamale said:

Was not that one of the campaign promises to bring in another cell/internet provider?

They announced the new provider a week ago. I think there is a topic here about it. 

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37 minutes ago, Jollygoodfellow said:

They announced the new provider a week ago. I think there is a topic here about it. 

ah yes I remember reading it.

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I have been watching this with interest in the news. The way I read the new law it opens up a few high tek industries, but is mainly focused on foreigners ability to set up a small business (veterinary, health care, things like that) or even work in these fields. Putting on my skeptical hat, sectors where well educated Filipinos become OFWs instead of staying in country. So instead of encouraging large amounts of foreign investment, we might see an Indian or Chinese Vet set up business here. 

IMHO what they really need (and several OP EDs agree with me) is two things. A better infrastructure so manufacturers can get their goods to shipping and get rid of the 40/60 rule. Otherwise you will not see large manufacturing companies move in. It seems so common sense to me, would we rather have the income tax revenue from thousands of new workers, or the VAT tax revenue from thousands of OFWs

As the old saying goes "pride goeth before the fall" or something like that :56da64af91f92_23_11_602:

 

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Maybe the Chinese can take over the banking... and we can get all the WeChat payment functions.  :) 

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