my philstar column today - The memo states that the “current leadership has made almost all the right moves. President Aquino’s reforms have been across the board. Pres Aquino’s achievements are commendable, but he should raise the bar as he enters the last phase of his term. The government should step up the privatization process via PPP projects. The pork barrel issue needs to be solved during Aquino’s term.” The memo was hopeful about Jojo Binay. “Next leader is critical to sustaining the Philippines rerating. VP Jejomar Binay wants to be the next president. His performance as Makati mayor has been good. Applying the same strategy he used for Makati would lift the country.” The memo points out that “over the past few decades, political turbulence in the Philippines has been a drag on its fortunes and attitudes. Political continuity into 2022 would make a tremendous positive difference to the country’s prospects. With the right leader, the Philippines will continue to outperform its Asian peers. Better infrastructure and institutions are critical to its development.” What is key, the memo points out, is the need for 12 years of good governance. “Should this occur, and there are a lot of ifs as there always are in the world of politics, then investors can start to countenance what the effects of a combined 12 years of good governance will have across the country as a whole. “Such a timeline would be sufficient to change various institutions, attitudes and personnel on a scale that would challenge many of the preconceptions that have bedevilled the country. What is being contemplated is a restructuring of the economy which could lead to a significant easing of bottlenecks and regulatory red tape. “What is needed is for that progress to be built upon, expanded and cemented across the archipelago. Achieve that, and there will be very few investors wishing to claim the market is expensive when set against its potential growth trajectory.”
Posted on: Fri, 10 Oct 2014 02:06:30 +0000
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