Full Foreign Ownership Of Businesses Doesn't Mean The Philippines Is Sold, Get It?

Here is a meme by Bantay Nakaw Coalition or Watchful Against Thievery Coalation (and their website is here) which they are suggesting that full foreign ownership in power, transport, and communications equals sold. Huh? Are these people neanderthals? Ironically, they also praise Tsai Ing Wen of Taiwan as another woman President Rodrigo R. Duterte failed to listen to. Apparently, Bantay Nakaw Coalition is very much against foreign investment and Taiwan is for foreign investment. TBH, I don't mind Vice President Leni Loud Robredo getting praised as long as she deserves it. While she did fail in her time on ICAD but at least Angat Buhay is doing something. However, I can't still be sure if Leni Loud herself is paying Jover Laurio since it's just my hunch.

Sold? Well, that's just a ridiculous thought. What does full foreign ownership of businesses here in the Philippines mean? it would mean that foreign investors won't need to find a local Filipino partner. Finding a Filipino partner becomes optional and they can have a flexible package like 50-50 ownership. However, foreign investors are still subject to Filipino by-laws. Foreign companies are still required to employ Filipinos, pay taxes based on income earned within the Philippines, comply with all the necessary permits, and not engage in illegal activities. They may fully own their business but they can forfeit their right to do business depending on how severe the violations are.

Worse, there are naysayers who are already saying it's part of a grand scheme to sell the Philippines to China. I don't care if the investment company is from China because Chinese businessmen are often victims of the Chinese Communist Party. Is China or are Chinese companies the only foreign investors they know of? What about other countries in the world? They too are foreign investors. The Philippine government can deny Chinese investors while accepting foreign investors from other countries. Just because foreign investment is allowed doesn't automatically mean that Chinese investors are welcome to invest. Though, I'd still welcome legitimate Chinese investors while refusing foreign aid from the Chinese Communist Party. I won't say boycott made in China but I'd still dare say boycott the Chinese Communist Party.

This kind of mentality has always been propagated by the power-hungry pseudo-nationalists. Why they oppose foreign investors and spread their lies is not because they're nationalistic. They even use imported products to promote economic protectionism. They know that if more Filipinos get employed then they lose their influence. It's all about having their power struggles and selfishness which they try to disguise as nationalism.