Will Gambling Improve Philippines Economy?
In a controversial new move, the Philippine government aims to draw in more foreign investors to the country by beefing up the gambling industry and building a massive recreation and entertainment casino complex.
According to Trade and Industry Secretary Peter Favila, the move to promote gambling in the country could bring to the Philippines more foreign investors, similar to what is now being enjoyed by neighboring countries Singapore and Malaysia. Favila has formally announced to the press his unequivocal support for the a government project to build a huge gambling complex in the capital Manila.
Favila came out with figures showing how the Philippines lags behind Singapore and Malaysia in terms of foreign investors, with the Philippines showing a record investment in 2007 of $2 billion, compared to Singapore and Malaysia's $8-10 billion. He naively added that Singapore and Malaysia's success in attracting foreign investment is owed to their engaging in "new project activity, which is now more popularly referred to as entertainment and private gaming."
Incumbent president Gloria Macapagal Arroyo's government has a project in the pipeline,the Bagong Nayong Pilipino-Manila Bay Integrated City gambling complex project with a price tag of $15 billion, reminiscent of the failed Philippine Amusement and Gaming Corporation's failed $20 billion Entertainment City.
Being a majorly Catholic nation, the project is obviously drawing controversy. One of its more vocal opponents is Lingayen-Dagupan Archbishop Oscar Cruz, aghast at the Philippine Government.
He writes in his blog: "The Philippine Government is the official gambling lord -- a living reality that makes all upright and decent Filipinos wallow in disgust and shame."
"To promote gambling for charity and humanitarian purposes, to build a $15-billion gambling city for the progress and development of the country...are but signs of desperation to deodorize and sanitize the downright vice of gambling -- with the present administration as its over-all (boss)."
Cruz likewise wisely pointed out: "I don't know how he came up with this idea. Malaysia and Singapore were able to improve their economy because their governments were clean. Foreign investors bring in their money because they know that the government in these countries were not corrupt." Cruz, is also the head of Krusadang Bayan Laban sa Jueteng (National Crusade Against Jueteng-a form of gambling). He stressed that foreign investors tend to avoid the country because of corruption and not lack of entertainment venues.
The Trade and Industry secretary acknowledged the church's views however he said that it was better to look at the opportunities that the project will present.
