JP Morgan Lists Concerns of Investors in Investing in PH
JP MORGAN – The American multinational investment bank and financial services holding company cited the concerns of the investors under a Marcos presidency.
The Philippines recently held its local and national elections. Last May 9, millions of Filipinos went out to vote for the candidates they support. Nine (9) bets vied to become the 17th president of the country. There were 9 candidates for the vice presidency and 63 bets who vied for a seat in the Senate.
One of the presidential candidates is former Senator Bongbong Marcos. Running under Partido Federal ng Pilipinas, the presidential bid of the son of the late former dictator Ferdinand Marcos Sr. triggered the issues surrounding the regime of his late father, his family’s alleged ill-gotten wealth, and his tax evasion charges.
Despite the issues and the absence of Marcos Jr. in debates sponsored by the Commission on Elections (Comelec), Marcos led the presidential race in the final survey of Pulse Asia. However, his possible victory worries a lot of people including investors.
Based on an article on ABS-CBN News, American multinational investment bank and financial services holding company JP Morgan previously released a list of the concerns of the investors in investing in the Philippines under a Marcos presidency.
In its Philippine Strategy Flash Report, JP Morgan cited the following investor concerns under a Marcos presidency in the Philippines:
- lack of meaningful track record as a government official
- perception based on the legacy of the late former dictator Ferdinand Marcos Sr.
- “potential for reassessing the administration’s stance on major private sector business families based on past alignments or historical group positions on issues around the earlier Marcos regime
- policy questions “given the candidate’s lack of an articulated substantive economic platform” and his seemingly limited access for traditional media such as the pre-election debates and interviews”
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