Read this in The Manila Times digital edition.
EVEN as the government works diligently to make the Philippines an upper-middle income country, the authorities should review many of the unfinished policy work that could accelerate job generation and attract more foreign direct investments (FDIs). As mentioned in previous editorials, for instance, the Senate should ratify the new air agreement with India, which is poised to become the third-largest economy in the world, according to Morgan Stanley and S&P Global. That agreement was signed by the previous administration, but it is not the only deal that has encountered delays.
More than 20 years ago, the Philippines and Taiwan signed a tax agreement, but this, too, has yet to be ratified by the Senate. Back in 2002, the Manila Economic and Cultural Office (MECO) reported that the agreement could bring in some $1 billion in FDIs by 2005.
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