More investments mean more jobs, says Enrile

Former Senate President Juan Ponce Enrile has vowed to focus on fighting poverty by creating jobs spurred by investments.

Enrile, who is vying for a Senate seat in the May 13 elections, said that, if elected, the first thing he would do to create jobs is to “encourage the opening of the economy to foreign investments.”

“[We must] remove all barriers to foreign investments in the country except those areas where it involves our national security,” said Enrile, who once headed the Department of Finance under the administration of President Ferdinand Marcos.

He issued the statement after more Filipino families considered themselves poor in 2018 according to a Social Weather Stations (SWS) survey,

“For the economy, what is our way of fighting poverty? Create jobs. Whatever work there is, the country will improve. If there is joblessness, no one will buy consumer goods. No consumption. Economy is kaput. No taxpayers,” Enrile said.

According to him, local businessmen “do not need protection” because they “have matured enough”, adding: “They can compete with other capitalists from other countries. What we need to day is to create jobs for the jobless people to expand the economy.”

In a media forum, Enrile explained there are three ways in which he plans to focus in order to spur growth.

“The first is by investment either by government or the private sector including foreign and domestic capital. The second is through export by creating export products. The third is by consumption. You must have people who consume in society in order to expand the pie and create demands,” he said.