President Rodrigo Duterte’s warning against the country’s giant telecommunication companies could scare off foreign investors, resulting in the loss of trade and foreign investments, a business group warned.
“The warning to possibly nationalize major utilities in which there are billions of dollars owned by foreign investors could harm the external opinion of the country’s investment climate stability,” Forbes said in a statement. In his fifth state of the nation address, Duterte threatened to shut down PLDT and Globe if they failed to improve their services by the end of the year.
“The regulator’s [National Telecommunication Commission] apparent ability to be influenced by the government continues to be a key impediment to foreign investor sentiment, and has also made the telecoms landscape difficult for both new entrants and existing players,” Fitch Solutions said.
They should be scared if they cannot deliver the service as agreed in their contracts. For telcos it's customer service more than profit maximization.
Its been told that our constitution is the culprit. Iilan lang yung negosyante dito sa Pinas kasi monopolized lang ng ilang apelyido. Kaya takot silang buksan ang ang ekonomiya sa labas kaya gagawin niyan lahat para pigilan ang CHA CHA.
I dont see that happening! A lot of opinions have been raised, but nothing comes close to that!
Blackmail.
Fearmongering. Our constitution is what scares them away, not the President's words.
what are you cooking? what scared off are you talking about or you mean the other way around? Losing their ABUSED clients with the LOUSY Services they've provided will result to their loss of profits and if karma hits hard would be BANKRUPTCY...