Investing in business in the Philippines is not just a hindrance to inadequate infrastructure services.
The purpose of foreign businessmen investment is to make money. But investing in the Philippines is risky. Many Chinese businessmen investing in the Philippines were scared away at the end.
Let’s talk about the disadvantages of the Philippines first:
1. Labor shortage
Don't think that as long as it is a human being, it is a labor force. Filipinos are lazy, men hang out at home, women go into prostitution to make a living, and it's very common. The basic requirement of the workforce is basic education, which unfortunately is pretty poor in the Philippines.
2. Government corruption
The level of corruption is absolutely beyond your imagination. Foreign businessmen came to invest, and government officials scrambled to make profits for themselves. In 2019, a friend of mine just finished renovating a KTV in Manila. He was immediately arrested by the Manila Police Department and his property was divided.
3. The efficiency is extremely low.
It takes at least half a year for a Chinese company like Huawei to apply for a work visa in the Philippines. I also have a friend who goes through reimbursement procedures in the Philippines. He forgot to upload the scanned copy of the receipt for the other party to scan. The other party replied, "I'm sorry, I'm very busy and I don't have time to scan it for you, so I will send you the receipt and let you scan and upload it yourself." Just tossed about this little thing for 2 days.
4. Discrimination
The Chinese will not be trusted by the locals in anything they do, and at the same time, American’s shit is fragrant.
5. Labour law issues
The Philippines has completely copied the American system, and no matter what the local businessman does, there will be no punishment. But if a Chinese company tries to fire a local, you'll get a ticket and go bankrupt within minutes.
6. Religious issues
There is a religion I can't remember the name of. If you join this church, you must donate 10% of your family property to the church. Many people at the bottom of society in the church are doing their best to defend the interests of church members. A friend's company once fired a drug addict who joined a church and was retaliated by the church in various ways. The church is so powerful that even Duterte wants to curry favor with them in exchange for votes.
7. Infrastructure
There are only two roads in the north-south direction of Manila, and there is a 24-hour traffic jam. The subway construction battle has lasted for nearly 20 years. Electricity is in short supply and expensive. Private ownership of land means you have to get the consent of the local owner to do anything.
8. COVID-19 factors
According to of . ficial figures, there are more than 5,000 new cases every day. Manila is smaller than Beijing, with a population of over 30 million, 10 million more than Beijing. More than 20 million people live in slums, earning an average of $1 a day. A Covid-19 test costs about $40. How is the real situation, you savor carefully.
To sum up, if the Philippines is to change the face of poverty, the Philippines must undergo a complete makeover before economic development. Otherwise, it is difficult to achieve rapid economic development
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