I must admit that this is a very last response. Not having electricity or Internet for some time can be a disadvantage. That's why I wrote later on about how the Philippines REALLY needs to open up the utilities sector to more foreign investment. The devastation is heavy. Vice President Leni Loud Robredo mentioned sometime in December 2021 (when Odette struck) that she wants safeguards in bills allowing foreigners to be involved in public services. Hmmm... wait... wut? I wonder what safeguards does she mean?
Right now, I think about Teddy "Dancing Boy" Baguilat who is running for senator again. I'm amazed at how the cultural dancer is speaking out of ignorance regarding the restrictions in Communist Vietnam. I think the reason why Vietnam doesn't allow foreign ownership of land is because they operate based on public ownership of land. Call it communism with free market characteristics like how Deng Xiaoping operated it. What Dancing Boy got wrong is regarding the restrictions - Vietnam doesn't require a 60-40 provision in foreign investments. Investors can invest in Vietnam as long as they follow the rules of the glorious communist state. Meanwhile, investors are only allowed to RENT land like tenants in a commercial building can't buy the spaces they're in. Vietnam pretty much operates like a shopping mall towards foreign investors.
One must wonder what safeguards are Leni Loud talking about?
If she's talking about fair competition then fair enough. I still think that the Philippines shouldn't sell land to foreigners like a mall won't sell its space to tenants. If Leni Loud is talking about making sure foreign investors pay their taxes, treat their employees right, they follow rules, and the like then I have no problem with such safeguards. Commercial space owners set rules and regulations stipulated in the contract of what foreign investors can do and can't do. It's like a tenant can't sublease without the owner's permission or can't run illegal activities. Those are safeguards that protect the landlord from any danger. The Philippines, like a commercial space, is required to give rules and regulations to foreign investors such as paying taxes, treating their employees right, and following the rules of the Philippines.
However, if Leni Loud herself is talking about 60-40 then she needs to ask this question if anybody would rent a space if they were only allowed to own 40% of their net profits? The answer would be a big flat NO. Just think about the ridiculous arrangement that if a tenant had to hand over 60% of their net profits to their lessors. That would put them at a serious disadvantage in contrast to paying monthy rentals. Monthy rental is computed per square area plus a reasonable markup percentage to give the lessor a profit. A lessor may add a certain percentage to generate profit while making sure prices aren't TOO HIGH or TOO LOW. Too high and nobody rents. Too low and costs can't be recovered. Still, I would be more open to paying monthy rentals than giving 60% of my net income to my lessor.
Leni Loud herself may want to review her economics. Didn't she have visits from first world countries? Didn't she have a visit from Teo Chee Hean from Singapore when he was the deputy prime minister? She should try and think about what she means by safeguards. If she's talking about safeguards such as 60-40 then she should have her economics degree revoked. Hopefully, Leni Loud will fight to remove excessive restrictions as not to waste her degree.
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