The Philippines' Constitution prevents foreign owners from owning business in the Philippines (with the recent exception of import/export seat trade and any business that exports more than 70%? of its produce). The world bank points out that you have the greatest disincentives to foreign business of any "developed" Asian country. Your public utilities cannot be owned by foreigners - which would not matter if there were not so many blackouts, good water supply and clean sewage. You even prevent joint development of resources in the South China Seas as your Constitution demands you own 60% of the assets.
Even on a small scale I as a foreigner cannot buy a house freehold as I can never own the land on which it stands. It is no wonder the Philippines is such a poor nation with undernourished children, worse shanty towns than Mumbai and little people. It is not genetics that make the Filipinos so small in stature but undernourishment and poor diet.
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