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More foreign stake in economy nixed

  • Written by People's Journal
  • Published in Business
  • Read: 721

Nine of 10 Filipinos do not approve of further opening up the Philippine economy to foreign ownership of  land and the exploration and development of natural resources

Research group IBON’s recent survey showed that the majority of Filipinos are against further foreign ownership in the country’s economy.
Asked if they favored the proposal to further open up the Philippine economy to foreign ownership of land, natural resources, utilities, educational institutions, companies or corporations and media outfits, majority of the respondents disagreed.
In further opening up foreign ownership of land, 88.4% of Filipinos answered no, while only 6.2% answered yes. In the exploration, development and utilization of natural resources, 86.6% said no, while 6.6% said yes.  In the ownership of utilities 84.8% said no to foreign ownership, while 8.8% said yes.
In terms of increasing foreign control of educational institutions (ex. schools and universities), 74.4% answered no, while 18% answered yes.  With regard to foreign ownership of companies or corporations, 73% said no, while 17.7% said yes.  Lastly, 69.4% answered no to further foreign ownership of media outfits (ex. mass media and advertising firms), while 16.1% answered yes.
The latest IBON Opinion Survey was conducted from September 1-12, 2016 among 1,505 respondents in 17 regions. This round employed field interviews and a multi-stage probability sampling scheme with a plus or minus 3% margin of error.