Villar alarmed at big investments drop,issues call for all sectors to pitch in

Senate President Pro-tempore Manuel Villar II expressed alarm yesterday over the significant drop in investments in the country as he called on all sectors to work with government to help revive the economy.

"Less investments means less jobs for unemployed Filipinos and this is certainly not a good sign. This is a call to action for all of us to get our acts together," Villar said.

Data from the Board of Investments indicates an 82.48-percent drop in investments for the first three months of the year as compared to last year. The Philippine Economic Zone Authority likewise posted a 73.75 percent dip in investments registered with the agency.

Villar said that divisiveness brought about by various protest actions against the government may be perceived by investors as instability, turning off potential investors and stunting the country’s economic development.

"We must all get our act together and help one another move the country forward," said Villar. "I am appealing to all Filipinos, instead of rocking the boat let us seek ways by which we can help move the country forward," he added.

Villar also stressed the need for government to work on programs to develop local industries and encourage more entrepreneurs and not just rely on foreign investments alone.

"As we can see, foreign investments are hard to come by so we must also look inward for the development of our economy," said Villar.

Villar pointed out that a more "inward looking policy" of promoting entrepreneurship may be the key to the country’s long-term economic growth.

"The mushrooming of more and more Filipino entrepreneurs will stimulate an economic revival and spread and create wealth in the country," Villar said.