A Personal Observation
The
patchy economic record of the Philippines shows that there are inconsistencies
in our economic reforms. Economic development continues to be elusive in spite
of our abundant natural and human resources; dismal poverty unmoved for years,
weak institutions and oligarchic private sector has contributed immensely to
the problem.
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Makati City Business Hub, Philippines |
Like
a steering wheel, the Philippines has adopted an openness model, entered a
series of multi-lateral free trade treaties, agreements, and inter-Asian
conventions. These efforts provided domestic firms access to markets overseas
and leverage to policymakers that allowed them to pursue economic reforms more
aggressively. However, investment rate in the country remained to be one of the
lowest in the region in recent years because of the poor physical
infrastructure that discouraged foreign and domestic investors. The fiscal
position of the country remained to be one of the other factors. This is
ultimately brought by weak revenue collection.
Lack
of economic transformation has brought further dilemma as the country exert its
efforts for progress. This deficiency elevated and gave rise to production and
economic imbalance. Evidently, the lack of economic transformation is one
reason as to why there is increasing number of Filipinos wanting to hook a job
overseas.
I
agree that a vigilant society adds to better governance. Pressure groups are
vital on expressing the majority’s stand on public issues and concerns. They
act and serve as an instrument to hear the voice of the masses. Conversely,
policymakers should be aware that there are possible drawbacks brought by these
pressure groups. There are possibilities that policies may become paralyzed
because of populist clamor.
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CTO |
I
have gathered a set of aspirations and challenges for the Philippines in doing
this reflection. These aspirations and challenges are composed of five and
three areas respectively. It gives emphasis on an opportunistic approach to
development with respect to the visible strengths of the Philippines; the
Business Process Outsourcing, Human Capital, Agriculture, Tourism, and Rich
Natural Resources. Also included are the challenges to the Philippine
Government, Private Sectors, and ultimately, to the Filipino People.
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Philippine Stock Exchange |
The
idea of a Balanced, Rapid, Inclusive, Sustainable, and Capital-led Economic
Growth, more that its adjectival characteristic, are appealing. These concrete
steps can be a turning point for economic, political, and social renovation provided
that each private and public institution, empowered with people’s participation
would steer the application of the proposed model.
I
would like to quote the assertion of the late anti-apartheid hero, Nelson
Mandela; “The greatest glory in living lies not on never failing but in rising
every time we fall.” Dr. Jose Rizal described our country; “The beloved region
of the sun”, “The pearl of the orient seas”, and “Our lost Eden.” The
Philippines has experienced many ups and downs in the past years and has tried
to be cured by different administration during the past decades but still stuck
at the near bottom of the East Asian neighbors.
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CTO |
We
probably ask ourselves at one point in time, what’s the problem with our
country? In spite of our rich and abundant natural resources as well as human
resources, we still fail to reach the top? During the past months, we were
being staggered by natural calamities and brought us to total dismay by the
exhumed scandals of dirty politics that tested our faith and vigilance.
I
guess that’s how it is. These challenges should come to pass to genuinely
transform the Philippines into a matured nation. I believe that the universe is
pushing us to explore new solutions, to innovate and to act as a true citizen
with one aim, and that is to prosper and renew the spirits of each Filipino to
stand and to sacrifice in the name of patriotism and brotherhood. I believe
these characters will guide us from the inherent enigma of the past and direct
us to the dream just like what Jose Rizal emphasized; “If a man wants to be
free, he should live with Personal Discipline, Moral Dignity, Refusal to submit
to tyranny, and willingness to die in defense of these traits.”
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CTO |
True
enough; a country is composed of free men living for the common good and
betterment of life. These free men and women will strive to realize a free and
prosperous nation, a nation we call the Philippines.
I
still believe in miracles, I still believe that in the near future, the only
pearl in the orient seas will again shed light to the world and become a model
of modern development and good governance.