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OPINION | Philippine Long Term Investment Fund By Bernardo M. Villegas READ:

EYESTETIX STUDIO —UNSPLASH

For example, the percentages of spending on education, health, and agriculture of our ASEAN neighbors average 5-6% in each of these vital sectors. In the 2023 budget, spending on education is only 3% of GDP, health an abysmally low 0.84%, and agriculture even a lower 0.44%.

As a target, we should aim at attracting $15-20 billion in the form of foreign direct investment annually. I got thisgure from what Vietnam has averaged yearly over the last five years.

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