Time to cozy

If anything, the upcoming five-day state visit of P-Noy to China will be a great opportunity for the Philippines to cozy up to its powerful neighbor. We may have a number of issues that kinda’ soured our relations with China such as the Spratlys, the Luneta bus hostage-taking incident and the shelved NorthRail project but this visit will help warm it up if we do it right. There were as many as 400 businessmen who originally wanted to join the President for his state visit but this has been trimmed down to about a hundred, still a large business contingent nevertheless. Foreign Secretary Albert del Rosario actually advised that the bigger the delegation, the more the Chinese will appreciate it. To the Chinese, the large number is indicative of the importance we place on China as a trading partner.

We have to remember the increasing importance of China as a trade partner especially in the light of the economic woes besieging the US and Japan, our two largest trading partners. The Philippines is seeking at least $2 billion in investments during P-Noy’s visit, plus additional funds for infrastructure projects. Not surprisingly, both countries are eager to fast-track the formulation of a five-year development program for economic and trade development.

Despite previous snags such as the graft-ridden NorthRail project and the ZTE-NBN deal, a lot more Chinese investors are very much interested in doing business with the Philippines, among them technology giant Huawei which has gained a reputation as China’s “best kept secret.” Huawei connects almost a third of the world’s mobile phones, is the second biggest supplier for telecom and Internet gear, and has a workforce of 40,000 young people in its sprawling headquarters in Shenzen. Globally however, it has more employees than either Cisco or Microsoft. Huawei wants to dispel perceptions that it is China’s “spy” – an image fueled no doubt by the fact that its founder and CEO Ren Zhengfei used to serve in China’s People’s Liberation Army. We’re pretty sure Huawei will prove to be a better deal than ZTE.

Protecting US interests

The China state visit of P-Noy is being watched with great interest by the United States pretty much the way a suitor guards his rival. Some have speculated that the delivery of the Hamilton class warship, now officially known as BRP Gregorio del Pilar, has been perfectly timed to “remind” the Philippines that it has a staunch ally in the US who can help protect its territorial coastlines. The BRP Gregorio del Pilar should help beef up our sad Navy fleet of World War II-era ships and give it a little more “presence” in patrolling our coastlines and guarding our portion of the disputed Spratlys territory.

Meanwhile, the nuclear powered Nimitz class supercarrier USS John C. Stennis will anchor in Manila Bay with Rear Admiral Craig Faller, commander of Carrier Strike Group Three (CSG-3) of the US Navy. US Ambassador Harry Thomas will be hosting a reception onboard the USS John C. Stennis and a dinner at the US Ambassador’s Residence in honor of Admiral Faller, where we will be in attendance. CSG-3 is tasked as a deterrent force protecting US interests and the USS John C. Stennis is home to the commander of Destroyer Squadron 21 and the flagship of the battlegroup. Before his appointment as CSG-3 Commander, Faller was Commander of the Navy Recruiting Command and was also executive assistant to the US PACom Commander.

MVP optimistic despite global crisis

At the recent Finex meeting in Makati, PLDT Chairman Manny Pangilinan once again showed his maverick nature when he challenged the conventional “wait-and-see” business attitude during a crisis, saying now is the time for more investments. First Pacific will be pumping in P48 billion more into Philex Mining Corp. Philex Mining is a great example of a company that has managed to reap record-high earnings while adhering to “green” policies, giving the company a very positive reputation when it comes to environmental management. In fact, Philex Mining was awarded the regional Gawad Kalasag award in the non-government category for its significant contribution to disaster risk management efforts in the Cordilleras. MVP believes in the philosophy of doing business the right way - and there’s no arguing his success as a businessman and having the classic “Midas touch.”

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