And if governance is all about the economy, then I say the first two years of President Bongbong Marcos have been a stunning success story.
Why is the private sector strong? It’s a combination of the economy’s natural attributes and – government policies. President Marcos Jr. has been the primary marketer of the Philippines as an investment destination. In 24 trips to 17 countries, BBM attracted $61 billion in investment pledges, an amount, if materialized, could pay for half of Philippine foreign debts.
The fastest to be decided by government and the largest ever PPP project is the P1-trillion 25-year modernization of the Ninoy Aquino International Airport by giant San Miguel Corp. to build an airport to handle 62 million arrivals a year, double current capacity.Ayala Corp., the oldest Philippine conglomerate, is increasing is capital expenditures 14 percent to P284 billion this year from last year’s record P249 billion.
JG Summit’s Cebu Pacific has placed the Philippines’ biggest aircraft order in history – 152 single-aisle Airbus jets with a list price of $24 billion. A Filipina domestic worker has a worn out purse where she keeps items that are of great value to her – a child’s photograph, some emergency cash and her laminated PhilHealth card.
The Holy Father Pope Francis has allowed the blessing of same-sex couples. And Father Jaime Achacoso, a noted canon lawyer and priest, clarified that “the Pope is not blessing the union per se, but the persons...