Betting on the Philippines

As the year begins, there is one thing I would like to say: I will   bet once again on my country, the Philippines. We have been through all manner of crises before, and we  have always pulled through. True, this current global economic crisis indicates that it may be more overwhelming and far- ranging that any we have had before and that our economy still has inherent frailties. In spite of these, I would rather  keep faith in my country, than unearth reasons why it will not survive this crisis.

PR, which is my trade, is a business that, while it sticks to fact and reality, thrives on hope. We are trained to provide solutions to problems and chart long-term programs designed to putting clients on a strong footing. Our chief instrument as professional consultants is command of facts and creativity in creating programs that build consensus and understanding, as well as promote free enterprise and economic production. 

The Philippines has  a number of things going for itself. Its manpower, including those working overseas, is strong and on the overall suitable to the needs of employers in  the domestic and foreign market. Domestic peace and security has been relatively stable for a while, and this will provide the impetus for domestic tourism, for instance.  Foreign reserves are healthy. There is a quite strong will to entrepreneurship and innovative production. Our policy makers and leaders are  focused  on pushing on with accelerating productive enterprise, reviving exports, promoting our service industries and enhancing national competitiveness. Our people, for their part, it seems, would rather stick to their work and help keep the economy going.

In PR, we keep receiving from overseas indications of interest in the Philippine market. Foreign companies do still want to promote products and services in the country. 

Have we got problems? We have them, aplenty. Fears engendered by corruption, for one. Cost of business perceived to be intolerably high,  because of corruption. Layoffs that have begun in the OCW sector. Anxieties over investments crawling to a stop, as a direct result of the global crisis. 

I still bet on my country, because it makes sense to do so. The Philippines is a  going concern, and opportunities abound in it.