You need foreign investment, however, you have a political system that is corrupt and greedy. Each Senator, Governor and Councilman wants a cut of all proceeds.
Next you have the NPA which is nothing more than a Filipino Mafia. They extort from foreigners, kidnap them for ransom and murder innocent people.
The MILF makes the southern islands extremely unstable and thus, not marketable or profitable to foreign interests.
Why is foreign investment needed?
1. In 1980, the Philippines was the most financially stable governments in Asia, what happened?
a. Marcos was a dictator. He had his opposition murdered.
b. The People power voted in Cory Aquino, a wealthy housewife (nice lady) but NOT politically savvy or well connected with the majority of Filipinos.
c. Cory had Estrada as her VP, a corrupt ex-actor who was charged and found guilty of corruption. He is now Mayor of your greatest city (shameful).
d. Cory stated "Our people are our greatest export". She was referring to OWF's who work as slaves for a miniscule amount of money. She thus ignored all industry in the country. So instead of bringing jobs to the Philippines, she thought it would be just as good to ship the people out.
e. You booted the Americans, they where the highest employer of Filipinos throughout the archipelago. Yes, you have your sovereignty, but smart politicians could have gained sovereignty without loosing hundreds of thousands of high-paying jobs.
After Cory, the past leaders of the Philippines have done little to crush the NPA or MILF, nor have they energized your economy.
f. Publicizing pretty girls to attract tourists doesn't generate the profit or opinion needed to turn your economy around.
g. Your politicians are selling your country to the Chinese. non-quality Chinese goods flood the Filipino marketplaces. These are cheap, poorly made goods from PVC pipe to metal products which rust. These goods meet no quality control or standards. Most are rejects that the Chinese can not ship anywhere else. Now they're poisoning you with cosmetics containing an extremely high mercury content.
h. Filipinos have lost their lead as English speakers. Schools are focusing on Spanish. Seriously? Where will these Spanish speakers seek employment? El Salvador? Paraguay?
Do I have a solution? No, but I can tell you that voting in people willing to pay you for your vote, WILL NOT BE JUST AND QUALIFIED LEADERS.
The Philippines has the potential to be a great economic power, with its resources, people and location within Southeast Asia. You need leaders, not actors or has-been's.