Just as all good things come to an end, all bad things will pass

Amid all the negatives that have happened in the last month, starting off with the escape of al-Ghozi, the mutiny of young officers in Oakwood to the hunt for Gringo and the suspension of the BSP governor, and now the exposé of Sen. Ping Lacson on the First Gentleman, there’s a growing perception among the public: the country is fast sinking. Worse, the international press is picking it up.

But in reality, that is not altogether true. Yes, the country has been through hell lately, but there are also good things that are happening. Like this luncheon meeting I had the other day with retired General Ted Allen, DynCorp’s managing director and former JUSMAG chief. His company DynCorp, considered one of the biggest defense contractors in the United States, is planning to pump into the country 700 million US dollars of investments to upgrade the country’s aviation facilities, both military and commercial. They briefed me that the project is part of the help being extended by the United States to the Philippines and it will focus particularly on improving training and maintenance centers and access to aircraft spare parts. The project is commercially viable because it will surely bring in commercial aircraft from the Asian region for repairs. The former general is looking to set up in Clark, making it a hub for quality aviation services in the region. Our airforce pilots will surely appreciate the new and better flight simulators that DynCorp will put up. Apparently, DynCorp is not the least fazed by what is happening in the country, in fact, they are going full speed ahead. The good news is the Philippine Air Force will be the first recipient of this project, part of which is the upgrading of our Air Force helicopters. Since US assistance will come directly through this firm, it would substantially bring down corruption in the supply of spare parts to almost zero.

There are today many viable businesses that can be put up in the country, but apparently, investors are holding back to wait until 2004. After that, financial analysts believe the Philippines might be once more considered as an investment destination.

Meanwhile, there are people and agencies that continue to work to get the country moving. Our good friend Secretary of Agriculture Cito Lorenzo is on the right track as he works to prop up the agricultural sector. Most fledgling countries that made it big in the economic arena focused on improving agriculture. Even today, this sector accounts for 30-percent of these countries’ economy and directly supports 50-percent of the workforce.

During the 70s and the 80s, the Philippines had the highest growth average in agriculture (4.9 percent), Thailand following close behind with 4.2 percent. Although China, Thailand and even Indonesia are growing fast in this area, experts believe the Philippines will be able to catch up. Some business groups are already thinking of exporting more of our bananas, pineapples and mangoes to boost agriculture in the country because the international market is ripe for these crops nowadays. There’s really nothing wrong with being called a "Banana Republic" if our banana plantations will yield crops worth billions of dollars in revenue. With better irrigation systems, more available manpower, and laws that will give access to real estate to foreign investors, no doubt, agriculture could be one of the main sources of dollars for the country. Mining is also a potential dollar earner. Australia, for example, exports 20 billion dollars worth of minerals annually, and uses five billion dollars domestically with very little long-term damage to the environment.

The Philippines could in fact export five billion dollars worth of minerals as a minimum annual production. As it is, our actual mineral exports are only $700 million. Experts believe we could do a lot more with the help of foreign mining companies and the support of local firms. That’s probably why European mining firms are slowly coming in because of the country’s potential in this business. With less judicial intervention, for sure the mining industry will grow at a rapid pace after 2004. There is also potential in tourism growth once it is supported by more improved peace and order conditions.

Dick Gordon, the quintessential optimist, is working overtime to convince tourists to come to the Philippines. Tourism is our advertising vehicle to encourage foreigners to become investors in the country. A solid sense of certainty and peace, no matter how small, is enough to prop up our image to the international business community. That’s why he continues to work with many business groups as well as law enforcement agencies. The Philippines is known all over the world for its educated and English-speaking workforce, and with that as our main criteria, we already have a competitive edge. Our biggest asset on the side of services apart from OFWs are still the IT workforce. It is good that government is once more raising interest in this field of expertise.

I was pleased to be invited by Mrs. Aquino the other day to attend the unveiling of the gold coin in commemoration of the death of Ninoy Aquino at the Peninsula. One cannot help but admire the former president for what she is doing nowadays, especially when she publicly stated she would now focus her energies in encouraging people to do their share in helping the country and staying away from politics. My golfmate and good friend Ambassador Robert Collette is leaving this week. Here is a fellow who continues to be positive about the Philippines. In fact, as Filipinos continue to migrate to Canada, the Canadian envoy is thinking of seriously retiring here. Robér is responsible for jumpstarting a lot of Canadian-funded projects in Mindanao over the past couple of years.

Another friend of ours, retired Admiral Ron Hayes, former CINCPAC Commander, wrote me the other day that in spite of what the Philippines is going through, Filipinos should not lose hope. The United States went through a lot before it got to where it is today. The Philippines was under Spanish rule for 300 years, went through a fierce war with Japan, had two People Powers, and several coup attempts. Just the same, it will survive. One thing is certain, the admiral wrote, the United States will never abandon the Philippines. That’s why I have always believed that just as all good things come to an end, all bad things will pass.

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