GOOD NEWS! 'PH: A Good Place to Invest' Says Famous Investment Guru! Find Out Why!
Following the many criticisms received by administration due to the increasing death toll linked to illegal drug trade, it faced another set of comments when peso slumped down last week and reached 48 pesos per dollar. Financial analysts further predict that peso would reach 50 pesos per dollar in the coming weeks. However, a famous investment guru stated that the Philippines will have a positive increase when it comes to investments due to the enforced implementation of law and order in the country.
Mark Mobious is the executive chairman of Templeton Emerging Markets Groups and funds manager at Franklin Templeton Investments. He further said that the alleged extrajudicial killings are a minor issue.
“The concern about the illicit killings is a minor issue. The big issue is how they implement true law and order and the degree to which Duterte is able to do that,” he said.
“Of course, it’s a tragedy that anybody gets killed, but in the context of what’s happened in the Philippines in the past and (Duterte’s) commitment to law and order, I’m not too worried about it.”
“[Duterte’s behavior] affects foreign relations. It affects foreign investors because they get concerned and you have the corporate governance concerns and so forth. But at the end of the day, I think the impact of the improved law and order will be positive.” he added.
"The drop in the peso may have been connected to the slowdown in remittances because with the economic situation in the Middle East and in Europe, the U.S., remittances have not been as high as they were.” he said.