Gaisano: Philippines to sustain growth

CEBU, Philippines — Businessman Jack Gaisano expressed confidence of the sustained economic growth of the Philippines, notwithstanding the threat of trade wars.

Gaisano, who holds various positions in the Gaisano Group, such as Metro Retail, Taft Property Venture Development Corporation, among others said that with or without trade wars and other external economic frailties, the Philippines can sustain itself economically.

The Cebuano business magnate, reaffirmed what other economists have been declaring that the Philippines can sustain its economic grip, especially if it were to implement complementary programs such as human resource training, and other pre-requisites to sustaining growth.

Gaisano mentioned the Philippine’s power booster, the thick young population whose skills and active minds are appealing to investors.

He added that this demographic sweet-spot will further strengthen the country’s economy with improved purchasing power, among others.

“Everybody needs us,” Gaisano said referring to other countries in the world that are now looking at the Philippines as their launching pad in Asia.

He mentioned the aggressive move of Koreans, Japanese, Chinese, Europeans and Americans in putting their money in the Philippines, including Cebu, as a firm indication that our country is gaining economic strength.

Although he refused to divulge the Group’s masterplan in taking advantage of the Philippines economic good news, Gaisano hinted bullish expansion plans in family’s diverse business interests in Cebu and other parts of the country.

Earlier, economist and governance thought leader Jesus P. Estanislao said that the ongoing trade wars among giant economies like United States, China, and issues on ageing economies among others may pose a threat of global economic fall, but Philippines will remain strong, more so if it has to implement programs that promote economic self-sufficiency. (FREEMAN)