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Foreign investment pledges in the Philippines dropped 51.8% in 2017 to the lowest level in 12 years.   © Reuters
Asia Insight

Duterte spooks foreign investors with tax 'sword of Damocles'

Incentives behind the Philippine outsourcing boom hit the chopping block

CLIFF VENZON, Nikkei staff writer | Philippines

MANILA -- Philippine President Rodrigo Duterte's administration received an impassioned plea from within its ranks on the night of April 11. 

"May I appeal to the government not to kill the goose that lays the golden eggs, our industries and investors," Charito Plaza, director general of the Philippine Economic Zone Authority, said before a crowd of foreign investors at the World Trade Center in Manila.

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