PH already one of most open economies: investment banker | ANC
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- čas přidán 1. 08. 2024
- Market Edge: For an investment banker, economic restrictions aren't the reason investors are not putting money into the Philippines.
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I’m FilAm and I opened a business in the Philippines for my future, my retirement. Opening a business in the Philippines is so difficult, to much bureaucracy and don’t forget the corruption. I need to bribe government employees to get something than or they hold it. This going to change. I planning to open other businesses, and time I will record and expose this people. This type system needs to change! I recommend to ever expose all this corruption!
Put your business in Pasig city. You will like the city government there under the helm of mayor Vico Sotto
I agree Mindanao’s natural resources is almost gone, taken raw. Praying here🙏🙏🙏
Please expose them or isumbong mo kay Tulfo
It’s not only the small businesses, even the biggest corporations have to deal with the red tape. This is something that we really have to fix.
We can’t eradicate corruption but at least minimize it to a level that ordinary people can’t feel it.
bureaucracy is so slow, employees move so slow, bad leaders. It's like having bad parents who had a lot of children but didn't invest on their kids with proper education, nutrients and morals. That's what happened to the PHilippines. Bad leaders who don't have apathy for the masses And then you have the Chinese predators who just want to exploit the poor masses and so they own evertyhing and keep the masses on a tight leash. I feel so sad when I see some of the conditions the poor Filipinos have to live in and the high cost of foods and everything given their meager salary.
I can listen to this guy all day. He calls a spade a spade - clearly no ulterior motives or self interest other than sharing his wisdom. More power to this show
Deeply appreciated and hope my classmate is well
well,he's certainly sincere but in my opinion he had his share of card misreadings,too.
This is democracy at work.
exact we can disagree without being disagreeable and respect our sincerely held differences@@MelvinStaRita-yb2fm
Best friend ni monsod
Mr.Stevie is very intelligent and knows what we is talking about
Congrats Philippines and Filipinos . Tuloy tuloy na pagyaman at pagunlad natin. God bless Philippines and Filipinos.
🎉
First time makinig sa mga issues na ganito politics ..economics....ang galing nya mag salita..at may aral..halatang experienshado si sir...God bless po..saan aangat na basang Pilipinas natin..at di na mag titiis kami g mga ofw dito sa ibang bansa..para mabigay ang pangngaylangan ng aming pamilya...❤❤❤
Maraming Salamat
He's convincing but I don't think he's correct in all of his arguments.But that's ok, this is democracy at work.
@@user-th4pb4co7g you are correct about Hongkong.It has its own challenges but yes Hongkong is prosperous.
@@user-th4pb4co7g Market forces are almost everything but not everything.In a nutshell you're correct.
@@user-th4pb4co7g It's not everything but it's the best economic system humanity ever got.
Many thanks for inviting me again!
Thank you sir for your time and insights
@@allanpetrola many thanks
Thank you sir for the very good insights! I really agree on the electricity situation of the country, if we were to lower the cost of electricity and make our islands interconnected with one Phil grid that alone will attract more investments especially those businesses divesting in China (PRC), sayang lang oras and efforts jan sa Cha-Cha.
many thanks@@TangoOscarMike07
The problem is the TRAPOS, not the Constitution. They just want to stay and remain in power.
That guy Mr Stevie is brilliant in economics and more practical and knowledgeable in politics he’s just open to everything that works positively in economics especially and politics as well l am looking forward to his next guesting which l assume once in every month hats off to you Mr Stevie
Many thanks but am not an economist just a retired investment banker
So much to learn from Mr. Cuuinjieng! I love his no-nonsense and straight-forward commentaries! I aspire to be bold like him.
Many thanks
Mga Pilipino kasi d nagkakaisa. Kahit sino nasa administrasyon puro mya reklamo. Ang mga Pilipino yung problema. Sobrang loyal sa politicians hindi sa bayan.
Give this man the best internet and hours and hours of airtime so he can rant to his heart's content! ❤
Many thanks
The irony that 😂 his internet is breaking out says a lot about our infrastructure 😭😭😭
If only our policy makers and comedian legislators would listen to his thoughts
@@nestorregino7240 many thanks
We are deeply and hopelessly need men like him to raise us up!
Bitin lagi 😅 gawa na po kayo ng talkshow pls - Ang ganda ng chemistry niyong dalawa 🖤
many thanks
Your brilliant sir, i salute.
Many thanks
Solid arguments. Critical thinking over ideological thinking indeed.
Mind you, his rant about integration of mining, processing of ores and the added value chain is also why China is a behemoth in rare earth. Rare earths aren't exactly that rare. Every other countries are perfectly capable of digging them out of the ground. The difference is what happens after.
The same is also applicable to other industries. Start bringing back cities that specializes on particular industries instead of focusing too much on building modern business districts.
If we do things correctly, then we're more likely to take away more shares of the market from China, who is currently going broke due to sanctions.
indeed
God bless you sir. You have my heartfelt thanks for the excellent advise you are giving in this land of ours. Mabuhay po kayo.🙏❤️
Many thanks
Sir Stevie! thank you again for your insights! I always have my notifications in youtube on if they put out a new video about Stevienomics. I really like your frank , upright and informative attitude! 🙂
Very kind of you
Always love learning and listening to Steve and Mimi. This is an analysis that needs to be discussed by our leaders
Many thanks
kaya nkakapagtaka, we have these many economic experts all along, yet we still lag behind. I'm hoping it will improve in the near future. Utilize our technical people, economist more rather than politikos na dunong dunungan lang.
The interview and discussion is too short. Mr. Stevie Cuuinjieng should be given longer time. It's always a great pleasure to listen to his wisdom.
I see white man and smell BS
Many thanks
Very well said Sir,hope most of the politicians watch this to analyze one's in for all what's good for the country.
many thanks, it is unfortunate that some posting unlike you don’t seem to have listened to what I said as while they can disagree it seems they are saying this as if I said something opposite or are just factually wrong.
It's not about land ownership, it's about corporate ownership. Remove the 60/40 clause in the Constitution so that the laws Congress passed allowing higher ownership can't be challenged as unconstitutional, fix the power costs, get rid of the systemic corruption, particularly in the Customs Department, cut down the red tape, set up a court just to deal with corporate laws, so cases don't take decades for resolution, and you'll get FDI. The Oligarchy wants the clause to stay so they can retain control over the economy.
I wish Mr. Cuunjieng were invited as a resource person in senate hearing on RBH6.
Many thanks
sana mainvite din sa House
How I wish all walks of life listen to him. He is not always right on his prediction but he will detail why he said what he said. So we can dissect and choice what right or wrong.
many thanks. exactly i do not claim to be perfect or have the solution always but happy to explain my views but more important the reasoning behind it@@Mr.DMac123
am just a retired investment banker, they should invite scholars or commission a proper study and analysis@@valcyrusningala3038
🇵🇭 Ready to roar again. Let us thank this administration of #PBBM.
Please continue the Stevienomics segment! Thank you, so much!
Many thanks
I agree. He should do this segment more often. Nothing is more important than open discussion of issues.
So many red tape just to import a hardware for computers. How can we be modernized.
Go to the government and suggest ways to streamline things, complain until things change.
@@chrisk7118 goodluck 😂 iblock pa number mo.
what I learnt from this video is we need to have a strong internet connection
I hope you can speak in the Senate. This guy is focused on production cost in the Philippines.
Thanks
Always looking forward to hearing from Mr. Cuunjieng.
many thanks
Stevienomics napakagandang makinig lagi sayo Sir.
maraming salamat!
I disagree with political instability as one of the reasons we lagged. Thailand has had 13 successful and nine unsuccessful coups in just over a century, and yet they are more attractive for foreign investors even to this day. It has to be something else. I agree with power rates though, coz that affects an investor returns, and returns are ultimately is what an investor is after.
i have previously distinguished Thailand where the civil service is established and stays in place regardless of coup and successful ones too. That distinction long bothered me but that is how some of my clients explained it to me. Whether one agrees or not.
In Malaysia, foreigners can own land unlike Philippines. Indonesia Bali also.
Philippines 40-60 foreign restriction is a big problem.
May mga restriction din yan and conditions sinusunod sa Malaysia and Indonesia. Usually leasehold lang yan and rights to use pero long term permits ang binibigay ng govt nila
You can own land thru leasehold agreement in the Philippines similar to it's neighboring SE Asian countries. Do your research before commenting.
sana mapanood to ng mga pulitiko natin.
Thanks
Nice to hear from Stevie. Very objective and speaks with specifics, based on actual experience. I hope senate would invite him as resource expert considering his global investment experience.
Many thanks
Oh.. What an interesting and inspiring discussions to listen with... thanks to mr. Cuunjieng i learned a lot from a brilliant idea of yours... Oh poor senators sorry...
Many thanks
False information. Malaysia most certainly allows foreign land ownership.
It’s no surprise that they are doing so much better than the rest.
This guy needs to do his research before speaking on subjects.
Terrific insights regarding power/electricity costs and a new approach with our raw material exports. Come to think of it, they are essentially the same idea: we need to develop internally first (especially our infrastructure), and start thinking in the long term, and not focus on just gains or expenses now.
Many thanks
That is what Duterte did fast track infrastructures. Many NEDA approved projects were under implemented or not implemented at all. During PNoy out of 114 NEDA approved projects, only 16 were completed mostly school buildings and some bridges new and rehabilitated.
Like the case of LRT expansion to Cavite, no single post was erected which PNoy admin promised to be finished in Dec 2015. Duterte admin solved the Right Of Way(ROW).
Same with Panglao International Airport.
Then Duterte admin also fast track and complete construction of New Clark terminal.
Also approved and awarded San Miguel to construct new international airport in Bulacan as NAIA is congested. Philippines needs bigger airport.
It was during Duterte MRT to Fairview was fast tracked.
Same with connectors in skyway.
Thank you for your thoughts Mr. Cuunjieng. Thank you ANC!
Many thanks
Insightful. Sharing this.
Many thanks
Certainly not the only reason why we lag behind but it is one of the reasons and many economists, lawyers believe that we need to amend it.
45,000 views within 8 days!
Most views talaga lagi ang interviews ni Sir Stevie sa ANC 🤗
Am grateful
I trully believe that there is another way to progress and that is upskill and focus on science and technology eduation to create global brands like facebook instagram honda samsung lego etc.
somebody in the govt should really start listening to this guy
Many thanks
@@scuunjieng this white guy is a Liar
To CALL a spade a spade, The Philippines is one of the MOST difficult to engage in doing ANY business. To do the paperwork alone takes almost a year of trying to find out, 'cause they dont wanna tell you!
Thanks
no data to prove his take on this issue and yet people here believed him... its better to assume ANC invited this guy to ask a question that they know he will disagree with chacha... Cmon! even in the present day, in the last four years, hindi natin nakuha mga manufacturing companies dahil sa sobrang restrictive sa investors at doon sila pumunta sa mga open na bansa like vietnam and indonesia and then in the coming years pati na din cambodia..
stagnant tayo pagdating sa aspetong ito habang kapitbahay natin na mga bansa may ginagawa.. yes nagiimprove economy natin in current state ng ating constitution pero sayang yung potential kung hindi natin bubuksan economy natin para sa foreign investors.. hindi kayo nababahala na napakadami parin ng ofw dahil nandoon ang trabaho at wala dito.. at sa mga mahihilig sa sports dyan, hindi din ba kayo nagtataka na halos dalawang business tycoon lang naglalaban sa sports?
naturingan investment banker daw mukhang may inaalagaan na oligarko sa bansa..
Totally agree. He's part of the Oligarchy and works with them for his own income and survival.
I agree! And he is old so his ways are conservative! We need to take risks
Politics should not be for the protection of vested interests. It should not be profitable so as to encourage focus on the greater national interest. Those with or seeking to have contract with government should not be allowed to run for elective position.
Thank you always stevie!!
Many thanks
Wow! Amazing news ❤️
Many thanks
impressive interview
I learned a lot in this 24 min interview
many thanks
Kaya pala 3rd tayo sa the most restrictive countries sa FDI. Heheheh
creative thinking is relevant then and now either ancient &/ or modernwise basta matutuloy sa totoong pakikinabangan ng nakakarami o lahatin n'yo na...
halimbawa na ang perpetual supply of electricity
Many thanks
Lack of critical thinking.....you nailed it Stevie....I hope congress bites into this.
many thanks
Why don't we have enough private investments to spur real economic growth?
that’s why they are pushing for economic charter change so we could be more attractive to foreign investment.
"Open" nga wala naman "level of playing field" paano yun? Bakit ako papasok sa competition na ang pinoy ay may monopoly ng ownership ng land and and foreigner ay reduced to a lessee forever? What economic principle supports this? Wala eh.. why not open it up para maraming employment option ang pinoy at ang government will focus on investing and implementing the most effective tax collection system?
welcome back sir steviey😊
Many thanks
He said we don't need slogans Bagong Pilipinas to progress, this is true.
So agree Sir.
Many thanks
Open the CF book with receipt how they spend the people's money. Corruption is the problems. Congress and Senate open the CF book with receipt how you spend the people's money.
The problem in the Philippines is our public officials don’t know what they are doing, from top positions down to brgy. Kagawad.
When the only requirements to be elected are age and can read and write, what can we expect?
Public officials are only concerned on what they can do for themselves and interests. A cancer stemming as far as the Spanish era.
foreigners cant own land.
foreigners must give %60 of the business to a filipino at the very start.
small business grows to big businesses.
there are many foreigners living in the philippines who would start a small business if they could actually own it. they could get things up and running on their own land and with their own investment and hire filipinos to build the business and run it and train them creating many jobs and as the business succeeds and grows to a big business hire more filipinos providing good paying jobs and training.
these small businesses are the backbone to an economy and the future of its growth.
thats how america started and grew- not by seeking huge investments from other countries for huge businesses right off the bat.
the average foreigner cant afford to risk their limited funds on something that wont belong to them.
paperwork and bureaucracy and fees and permits is a whole other issue.
Exactly. The people against this are the Oligarchs who want to keep their strangle hold on the economy. Who owns the media, etc, all the families who want to protect their status.
Ambitious politicians below cannot climb up, grab a seat in any of the houses for a big rich rich opportunity...though not much of them or even the current members really capable of being lawmakers....that's reality in this country.
Paano yung issue sa Okada na foreign casino operator? If maraming foreign business na dito anu effect nito? Dadami din po ba ang katulad na issue nito? Ano comment nyo?
Galing talaga this guy
many thanks
Even if the energy cost is cheaper here, does it make sense to build their manufacturing plants on an archipelagic island where the raw materials and exports of finished products are needed to travel by sea? If your car assembly factory is in Thailand, you distribute cars by land with larger markets from its neighboring countries.
Am I missing something here? Are we really in a strategic location for a manufacturing industry?
Maritime freight is very mature segment & has proven to be quite efficient/competitive compared to overland transport . assuming equal levels of implementation competence, it should not be a disadvantage.
This guy is right. When i worked as an expat in Ethiopia, my house is run by electricity 100%: stove, aircon, internet and laptops, lights. If i live in the Philippines that load would have been maybe 10,000.00/month. I i only paid 120pesos. What is that difference? Our electric power costs us crazily. Our government is not serious on looking at it. It impacts on investment foreign and local. Who will invest on countrict that eats so much of our revenuebin electricuty only
Many thanks
What date exactly of each month is he guesting at ANC
Many thanks. As long as they want me it is usually sometime the first week of the month. Because I was travelling to NY it got moved to last Monday.
History repeats itself...
In addition to what Steve said some few neighbouring country are producing oil that can export and another things those rich people are controlling foreign investor to get in to our country it is because it will affect their profit they want to monopolised the bussiness among themselves
Amazing. I learned a lot.
many thanks
I ike that sugestions, for open term for govt service election. Non consecutive terms. I like it.
many thanks
Non-Conservative policy for Preisdent. i agree with you Sir.
Thanks
Eye opener.
Bitin!
Eye opener? More like Propaganda
Many thanks
@@scuunjieng when are you going to China?
@@Carbuncle0168 your profundity floors me
@@scuunjieng 你們的美國盎格魯-撒克遜世界秩序的日子即將結束
Term limits serve as a vital safeguard against the consolidation of power within political dynasties, preventing individuals or families from monopolizing leadership positions for extended periods. However, there are instances where term limits alone may not suffice to dismantle entrenched political families. In such cases, extending term limits could offer an alternative approach to combatting political dynasties.
Consider this: If a competent and effective incumbent seeks to extend their term, they can continue their policies without the need for their family members to enter politics. This scenario reduces the incentive for nepotism and ensures that leadership transitions occur based on merit rather than familial ties.
Ultimately, while term limits play a role in promoting democratic turnover and preventing abuse of power, they are not a panacea. The true solution lies in fostering an informed and engaged citizenry empowered to hold their leaders accountable through the electoral process. By promoting transparency, civic education, and active participation in governance, we can create a political environment where dynastic tendencies are less likely to take hold. Therefore, while term extension may be a viable tool in certain circumstances, the fundamental defense against political dynasties lies in the vigilance and empowerment of the electorate.
Then obviously that is not the reason why investors are staying away. Or that is not the reason why they want to open it up.
❤❤❤PBBM FOREVER
If they lower the price other product from electronic, machine, automobile etc... Philippines can do that all mineral here in the Philippines. But reduced the worker and diverted into robotics installation all part factory industry here in the Philippines....
im curious where did Cuunjieng descendants come from? is it from China? i dont see that surname often
I think right now, the price of power is the main cause why some companies hesitate to invest in manufacturing in PH.
1983 there was a political turmoil.
Very wise
many thanks
Why the Philippines is not pursuing to drill our oil and gas reserves to help our economy.
investor doesnt want 1. low economic growth,2. Political stability stability/ecomonic and 3. Political turmoil . Political turmoil not a problem but ph need to sort out the Political stability/ecomonic
Hes rigth Electricity Prices & Ratesi n PH hghest next to singapore and also corporation Tax Business rates need to be lower . What Ph need a big project is a plan industrial zone a government/ private own designated area for the industrial production of products and services with its own Intergrated Sustainable Energy or Power station Close to Industrial Zone.
My takeaway from this is that Stephen's message throughout the video is about identifying what is holding us back: avoiding stepping on anyone's toes, managing debt responsibly, addressing conflicts of interest, fostering equality, and pursuing common interests. Let me elaborate, in the simplest way.
Debt: On a smaller scale, we tend to borrow without considering our ability to repay the interest or the principal amount.
Equality among each other: Some claim we are doing our best, but many are left behind, indicating a lack of equality.
Lastly, our major objective in terms of common interest: We lack a common interest because everyone seems to prioritize personal success over collective well-being, leading to division within society due to a lack of understanding and a desire for effortless wealth, rather than fostering meaningful relationships and respecting other cultures.
My point is clear: we need individuals like Stephen to remind us that we are all small parts of a bigger picture. Let's face it, if you already live a luxurious life, do you truly care about those in need? I admire Stephen's perspective and urge him to continue transcending his thoughts and inspiring positive change in us, from a holistic viewpoint.
Hi Stephen Cuunjieng!!
thanks
Due to 1987 Presidential Unitary Protectionist Cory Constitution!
Try cheap ⚡ cut expensive cost house business government put it to able low tax and products or add salary worker
Indonesia
Vietnam
Thailand
I think this is a better option.
Many thanks
Non consecutive terms
I support the idea of amending the economic provisions in the constitution, recognizing it as the supreme law of the land. Any legislation pertaining to the liberalization of foreign investment will be subject to constitutional scrutiny. If a case is filed challenging such a law, the supreme law will have the authority to declare it unconstitutional.
However, I hold reservations regarding foreign ownership of land, as it may contribute to an escalation in land prices. While advocating for economic openness, it is crucial to strike a balance that safeguards the interests of local citizens and prevents adverse impacts on the cost of land. Balancing economic growth with the preservation of domestic resources is essential for the sustainable development of the nation.
#YestoEconomicCharterChange
Dapat siguro Sir ay gawin kayong economic consultant ng Pilipinas.
Many thanks
Wrong again! Only 4% of investments into Asia go to Philippines, foreign investors stated in the senate today that opening FDI via charter change will boost investment by at least 12% or GDP. This man is an oligarch gatekeeper, ignore.
I K R! So archaic methods! Old dogs don’t want to learn new tricks! The old method ain’t working so we have to try other methods! Small mind!
The restrictions you are talking about in other countries are at legislative level while ours is straight to our constitution.
Deleting the economic provisions in our constitution is not a one size fits all. Sure their are a lot of factors why our country is low on overall economic competitiveness. But opening up is a huge message to whole investing community and world markets.
Great respect to this man Mr. Steve!
Many thanks
These 2, despite time limits, can break down topics in cohesive, chewable bites! What would be great is if these 2 could come up with a quarterly review of PH economic progress to help people follow what's going on and make sense of things. If 3 months is too short, 4 or 6 months then. Yearly is too long. Many people are getting drawn to Stevienomics because sensationalized news is confusing the masa. Like CNN US, every weekend they have these 2 programs that I find more interesting to watch than what the channel runs the whole day: State of the Union x Tapper & Bash, and Fareed Zakaria GPS. Maybe something similar where topics are focused and diverse perspectives are shared.
deeply appreciate your very kind words
@@user-th4pb4co7gno worries I though your comment was strange and off point
Yuhoooo!!!!!!senators helloooo!!!!!!!
I always look forward to the discussions with Mr. Cuunjieng. He is a straight shooter who never fails to give us an honest assessment of our economy and of the government’s economic policies. More power to him!
Many thanks
Economic provisions are just an scapegoat for the corrupt politicians
Then why do we lag behind ASEAN partners in terms of FDIs
Didn’t you listen?
Can't you make it weekly or 3 times a week?😊
Many thanks but I have no time.
So open pero walang namumuhunan at bakit? Kasi takot sila kahit andaming na amendyahang batas na takot pa rin silang sumugal dahil pag yung na amended laws na yan ay kasalungat ng economic provisions ng saligang batas matatalo pa rin yang mga negosyante na yan sa korte pag kinuwestiyon ang legality according sa constitution, kahit nasa tama pa yang mga negosyante na yan dahil sa mga batas na naipasa talo pa rin sila sa korte pag na question ang pinaglalaban nila gamit ang saligang batas.
Kaya dapat amyendahan ang saligang batas pag dating sa economic provisions dahil foundational law po yan mas mananaig yan kaysa sa mga bagong batas na naipasa pag dating sa korte.
Change the economic provisions now habang my shift sa global manufacturing, let the current administration secure some of those manufacturers na nag aalisan ng China na mamuhunan at lumipat d2 sa Pinas. Securing those manufacturing would open up other opportunities katulad na lang ng textile manufacturing manganga ilangan yan ng mga raw materials so yung mga farmers pwedeng mag tanim ng cotton pag walang kita sa gulay.
Wag pauto sa drama ng senado. Naging senador lang ayaw na anti cha cha na agad nung congressman pa sila pro cha cha mga yan. Naambunan lang ng mga negosyante na my monolopiya d2 sa Pilipinas yang mga senatongs na yan kaya protektado nila interest ng mga negosyante na yan. Halimbawa na lang yang nuclear power plant di mabuksan buksan kasi harang sa senate laki ata bigay ng mga local power distributors sa kanila kaya hinaharang o ayaw nila pansinin yang pagdinid ng nuclear power.
Support our core industries ! Our Agriculture like farms 🌾, Industries like Steel Integrate Factory 🏭 , Cement factory 🏭, Shipping industries 🚣 , Bring back our mines to our local companies not Japanese , Australian , American , or Chinese !
Sorry meant a government owned power sector not private sector