More foreign investors if Robredo replaces Duterte? It’s ‘wishful thinking,’ says Palace

MANILA, Philippines — “Wishful thinking.”

This was how Presidential Spokesperson Salvador Panelo described what a London-based think tank said that there is a likelihood that more foreign investors will be lured into the Philippines should Vice President Leni Robredo replace President Rodrigo Duterte due to health issues.

READ: Think tank sees investors welcoming Robredo takeover

“Unang-una e ‘yun ay wishful thinking. Pinakikialaman na naman nila yung soberenya at yung tinig ng taumbayan na naghalal sakanya (Duterte) overwhelmingly,” Panelo said in an interview with Radyo Inquirer on Sunday.

(First of all, that’s wishful thinking. They are meddling with sovereignty again as well as with the voice of the people who voted for him overwhelmingly.)

“Masyado silang nakikialam sa pamamalakad ng ating pamahalaan,” he added.

(They’re meddling too much into how we run the government.)

The health of 74-year-old Duterte continued to be the subject of speculation after Malacañang announced that he would be working from home in order to “have some rest,” Gareth Leather, Capital Economics senior Asia economist, pointed out in a report titled “Duterte health worries, Sri Lanka election.”

“Since becoming President in 2016, Duterte has been dogged by rumors of poor health, and last month it was confirmed he was suffering from myasthenia gravis (a rare condition that causes muscle weakness),” Leather added.

Citing Philippine Statistics Authority (PSA) data on investment promotion agencies’ (IPA) approvals of foreign-led projects seeking tax incentives and other perks, Leather also said “approved foreign investments have been much lower than previous years” since Duterte assumed the presidency.

But Panelo said this was not the case.

“E maling-mali siya do’n. ‘di ba sinasabi nga ng mga economic managers, maganda ang investment natin lalung-lalo na sa foreign,” he said.

(That’s wrong. The economic managers are saying that the state of our investments, especially from foreign investors, is in a good place.)

Edited by JE