Removing the 60/40 is NOT a guarantee foreigners will invest in the Philippines. Here are other obstacles to foreign investment to deal with... Poor peace and order. You can name it with the squatters in Tondo to the high rates of crimes that don't go unpunished just because the masterminds are rich. Who wants to invest in places like Tondo or Basilan? Even with a grant of 100% ownership, nobody would want to invest in a crime infested area. One could mention those annoying leftists like the Anak ng Bobo, Bobo Muna and Migraine International. One can also see the rampant kidnapping of people for ransom. One can see how Imperial Manila is a crime infested city! Invest and maybe you don't see returns. 60/40 won't be so bad if it wasn't for bad investments! Poor source of employment. Apparently most Pinoys consider jobs like factory worker, janitor, construction worker or any menial labor as "lowly" and "shameful". The...
Some of my random thoughts from a hyperactive mind!