I am tired of hearing people who keep whining or bitching out the stupid idea that foreign investment is foreign invasion. Again, I've said it for the millionth time that foreign investment is NOT foreign invasion! Anybody who thinks the OFW phenomenon means that Filipinos are taking over the world is living in Lala Land. Even if I am not an expert economist but it doesn't take a real genius to understand reality. Only a stupid person sees reality but refuses to accept.
So why would foreign investment be better than OFW reliance? Here's the reasons that should be considered and sad to say, a lot of people in the Philippines choose to be so stupid, they refuse to understand these BASICS to the BENEFITS of an open economy.
1.) More investment means more taxes. That is, more revenues to collect from!
My theory to why the Philippines' tax rate is so high is not only because the government is maintaining an archipelago but also, there are too few businesses to provide real employment for the Filipino people. If there were more investors then it means more income. Foreign investors like local investors are still obliged to pay their taxes, rent, etc. in the Philippines if they want to continue doing business. If there are more foreign investors, there will naturally be more taxes and higher Gross Domestic Product.
2.) A foreign boss in the Philippines is under the control of Filipino laws... even if he owns 100% ownership, he or she is NOT exempt from following the laws!
I need to really address the blunder of thinking that OFWs are helping the Philippines take over the world. Where you work, you follow the rules. Even if a Filipino has a foreigner for a boss in the Philippines, his or her boss is still bound to Filipino laws or as it is said, "In Rome, do as the Romans do." If a foreign boss does anything abusive in the Philippines, the government can quickly intervene compared to the OFW who is in a foreign land under a foreign boss.
3.) There will be more jobs for more Filipinos with foreign investors.
You want to open up more jobs then OPEN UP THE ECONOMY! If you open up the economy, there will be less broken families. In the OFW scenario, the parent must leave the country to supply the children. In the domestic scenario, even if the boss is a foreigner, the parent does not have to leave the country to find a job. At the same time, there will be no excuse to why certain people are still poor.
4.) Local businesses may either benefit as suppliers and customers to foreign businesses balancing supply and demand gaps
If you think of it, a foreign investor is another opportunity some businesses. Just think if a rice merchant sells rice or flour to a foreigner who runs a restaurant. Foreign investors may want a cheaper supply of their raw materials so they may end up buying locally made ones. At the same time, some foreign investors may become quality suppliers for the local businesses as well. Foreign investors may also make better tenants than some local businesses that just don't pay their rent properly. It's all about give and take. This in turn will balance supply and demand cycle. Sad to say, some people may even want to abolish the law of supply and demand which is plain stupid.