Foreign investments

Pacquiao promises to use status to attract foreign investment

Photo from Senator Manny Pacquiao’s Twitter page

MANILA — Presidential candidate Senator Manny Pacquaio said Thursday he would use his celebrity status to attract foreign investment to the country and provide jobs for the poor.

Pacquiao said he has at least 10 international billionaire friends who are committed to investing their money in the Philippines.

He said their only condition is that he gets rid of corruption, which has been a big drag on foreign investors. Two other issues he faces are the country’s unreliable internet and power supply.

“Can be a good negotiator and a man who is ready to be ready in the Philippines. Manila.

«Mahirap din po talagang gakuha ng investors at bansa kung ang katabing bansa at nasa 20 porsiyento lang ang corporate tax.

(I have wealthy business friends who are ready to help the Philippines. What they don’t want is massive corruption in our government. It is difficult to attract foreign investors when our neighboring countries only collect 20% corporate tax. We need to lower the corporate tax rate. taxes and get more non-tax income.)

He cited that even before the pandemic, many foreign investors moved elsewhere mainly due to the country’s unpleasant business climate.

In addition to having very unreliable infrastructure for businesses, the government’s reliance on taxes and unstable economic policies are a big drag on potential investors, Pacquiao said.

During his tours on Thursday, Pacquiao traveled to Malabon to pay tribute to the Correa family, who took him in while he was still a struggling boxer, giving him food, work and shelter.

He also met old friends, training buddies and colleagues at the LA Construction Compound in Maysilo, Malabon.

After his mini-reunion at the LA Construction complex, Pacquiao also distributed relief supplies to residents of Brgy. Maysilo.


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