MANILA – President Rodrigo Duterte should include wider internet coverage in his P8-trillion infrastructure rebuilding to give more Filipinos access to work-from-home opportunities, a fund manager said Thursday.
Filipinos in rural areas can tap a growing international market for home-based business process outsourcing workers if they have internet access, said Peter Lundgreen, founding CEO of Lundgreen’s Capital, which manages $1 billion in funds.
“Filipino people are well-educated and better in English than their peers in the ASEAN (Southeast Asian) market. There is a competitive advantage by investing into more and better IT infrastructure for the Philippines,” Lundgreen told ANC’s Market Edge with Cathy Yang.
Lundgreen, at the same time, expressed concern that “public debt could spiral off” with the President’s ambitious infrastructure upgrade.
On Wednesday, the House of Representatives passed on third and final reading the President’s tax reform bill, which will help fund his “build build build” program.
Lundgreen said tax reform, which seeks to lower income tax rates, could be “quite positive” for the economy.
Martial law declared last week, Lundgreen said, would have a “limited impact” if it stays in Mindanao, where troops are fighting Maute extremists.