'While it is still early days in the process, any pro-business changes to the Philippine's business environment would pose upside risks to our long-term growth forecast for the Philippines and in particular to investment,' the Fitch unit said in a commentary released on Tuesday.It noted that the removal of foreign direct investment restrictions, in particular, could lead to overall investments picking up in the coming years.
'The investment environment in the Philippines for foreigners has historically been challenging due to restrictive rules,' it pointed out.Among others, the 1987 Constitution limits foreign ownership in certain businesses to 40 percent.
If passed, Robinhood Padilla would leave a significant legacy as Senator early in his 1st tern in office while other overstaying ones would be remembered only as noisy obstructionists and publicity hogs. His political stock would surely rise.