Lacson cautions DTI on giving permits, licenses to Chinese investors in Boracay
Credit to Author: eestopace| Date: Thu, 02 May 2019 08:17:30 +0000
MANILA, Philippines — Senator Panfilo “Ping” Lacson on Thursday urged the Department of Trade and Industry (DTI) to be “very careful” in giving permits and licenses to Chinese investors who plan to put up businesses in Boracay Island.
“It is worrisome, to say the least. And I would like to urge DTI to be very careful in giving permits and licenses,” Lacson said in an interview over ANC’s “Headstart” on Thursday when asked to comment on the rise of Chinese workers and the influx of their businesses in the tourist destination.
Boracay has seen a rise in the number of establishments owned by Chinese investors. Some residents said that many of these businesses do not have English or Filipino signages, and some Chinese restaurants allegedly do not offer menus in another language.
The Department of Labor and Employment (Dole) previously said it will monitor such businesses.
READ: Dole checking Chinese shops on Boracay
“Ang masama nito, pag tinamaan na ang SMEs (small and medium enterprises) natin (This is not good if our SMEs will be affected),” added Lacson.
“Kung ang mga big ticket projects, or big ticket investments kung it runs to billions of pesos, that’s good for our economy,” he explained. “Pero kung mabababa ang kinompete nilang Pilipino, SMEs, it’s bad; eventually it will hit us before we know it.”
(If they are big-ticket projects or big-ticket investment that runs into billions of pesos, that’s good for our economy, but if they are just going to compete with Filipino SMEs, it’s bad. Eventually, it will hit us before we know it.)
“Ang nakakatakot din doon (What we should fear is) it could be a bubble that could burst anytime,” he said. “Mabuti na lang kung sila malulugi pero pwede tamaan ang economy natin (If they lose that’s fine, but our economy may be affected).” /ee